Arizona Booklet 120es - Corporation Estimated Tax Payment - 2011 Page 12
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18Estimated Tax Worksheet for Corporations
ARIZONA FORM
2011
120W
(Taxpayers Filing Forms 99T, 120, 120A, and 120S)
1 Arizona tax liability - see instructions before completing this line ..................................................................................
1
00
2 Required annual payment.
a Enter 90 percent of line 1 .................................................................................................
2a
00
b Forms 99T, 120, and 120A - enter the tax as shown on the 2010 return. See instr..........
2b
00
c Form 120S. See instructions ............................................................................................
2c
00
d Forms 99T, 120, and 120A - enter the smaller of line 2a or line 2b. Form 120S - enter the smaller of line 2a or line 2c...... 2d
00
Required Installments - Due Dates and Amounts
(a)
(b)
(c)
(d)
3 Installment due dates. See instructions .............................
3
4 Required installments. Enter 25 percent of line 2d in
columns (a) through (d) unless the taxpayer uses the
annualized income installment method, the adjusted
seasonal installment method or is a “large corporation”. See instr. 4
Schedule A - Required Installments Using the Annualized Income or Adjusted Seasonal Installment Methods Under IRC § 6655(e)
Part I - Annualized Income Installment Method
(a)
(b)
(c)
(d)
First____
First____
First____
First____
Months
Months
Months
Months
1 Annualization periods. See instructions ................................................................
1
2 Enter taxable income for each annualization period .............................................
2
3 Annualization amounts. See instructions ..............................................................
3
4 Annualized taxable income. Multiply line 2 by line 3.............................................
4
5 Calculate the tax on the amount in each column on line 4. See instructions .......
5
6 Enter tax from recapture of tax credits for each payment period - see instr. ...........
6
7 Subtotal tax. Add lines 5 and 6 .............................................................................
7
8 Clean Elections Fund Tax Reduction ($5). See instructions .................................
8
9 For each period, enter the amount of nonrefundable tax credits. See instr. ...........
9
10 Arizona tax liability - subtract the sum of lines 8 and 9 from line 7. If zero or less,
enter zero..............................................................................................................
10
11 Clean Elections Fund Tax Credit. See instructions ...............................................
11
12 Tax liability after Clean Elections Fund tax credit. Subtract line 11 from line 10 ...
12
13 Refundable tax credits - see instructions ..............................................................
13
14 Claim of right adjustment - see instructions ..........................................................
14
15 Net liability - subtract the sum of line 13 and line 14 from line 12. If less than zero,
enter zero ..............................................................................................................
15
22.5%
45%
67.5%
90%
16 Applicable percentage ..........................................................................................
16
17 Multiply line 15 by line 16......................................................................................
17
18 Add the amounts in all preceding columns from page 2, Part III, line 54 - see instr. ....
18
19 Annualized income installments. Subtract line 18 from line 17. If zero or less,
enter zero..............................................................................................................
19
Part II - Adjusted Seasonal Installment Method
(Caution: Use this method only if the base period percentage of any 6 consecutive
(a)
(b)
(c)
(d)
months is at least 70%. See the instructions for more information.)
First 3
First 5
First 8
First 11
Months
Months
Months
Months
20 Enter taxable income for the following periods:
a Taxable year beginning in 2008 ........................................................................
20a
b Taxable year beginning in 2009 ........................................................................
20b
c Taxable year beginning in 2010 ........................................................................
20c
21 Enter taxable income for each period for taxable year beginning in 2011 ............
21
ADOR 10551 (10)
Previous ADOR 91-5344
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