Form D-422a - Annualized Income Installment Worksheet - 2011
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12011
Annualized Income
D-422A
Installment Worksheet
Web
12-11
North Carolina Department of Revenue
Do not file this form with your return. Keep it for your records.
Name(s) shown on tax return
Social Security Number
Instructions
Purpose of Form. - If your income varied during the year because, for
by the amount saved by using the annualized income installment method in
example, you operated your business on a seasonal basis, you may be able
figuring earlier installments). If you use the annualized income installment
to lower or eliminate the amount of your required installment for the due dates
method, you must enter the amount from line 25 of the worksheet in each
by using the annualized income installment method. Use Form D-422A,
column of line 16 of Form D-422 and check the box on that line.
Annualized Income Installment Worksheet, to figure the amounts to enter
Important Information for Part-Year Residents and Nonresidents: Part-
on line 16 of Form D-422, Underpayment of Estimated Tax by Individuals.
year residents and nonresidents should complete only the column(s) for
Also enter the letter A in the box by line 24d of Form D-400.
the period(s) in which they had income from North Carolina sources. For
example, if the income from North Carolina sources was received in November
If you use the Annualized Income Installment Worksheet for any payment
only, complete only the last column. In addition, part-year residents and
due date, you must use it for all payment due dates. To arrive at the amount
nonresidents must multiply any amount(s) on line 15 by the decimal amount
of each required installment, the worksheet automatically selects the smaller
shown on line 12 of Form D-400 before determining the tax on line 16.
of the annualized income installment or the regular installment (increased
Annualized Income Installment Worksheet
1-1-11 to
1-1-11 to
1-1-11 to
1-1-11 to
Complete one column through line 25 before completing the next column
3-31-11
5-31-11
8-31-11
12-31-11
1.
Enter your federal adjusted gross income for each period.
1.
2.
Enter the applicable additions to federal taxable income (lines 37 through
2.
40, page 3 of Form D-400) for each period.
3.
Add lines 1 and 2.
3.
4.
Enter the applicable deductions from federal taxable income (lines 42
through 52, pages 3 and 4 of Form D-400) for each period.
4.
5.
Line 3 minus line 4.
5.
4
2.4
1.5
1
6.
Annualized amounts
6.
7.
Annualized Income. Multiply line 5 by line 6.
7.
8.
Enter your itemized deductions from your federal return for the period shown
in each column. (Do not include the deduction for state income tax paid.)
If you do not itemize deductions, enter zero and skip to line 11.
8.
9.
Annualized amounts
9.
4
2.4
1.5
1
10.
Multiply line 8 by line 9.
10.
11.
Enter the standard deduction from Form D-400, page 3, line 32.
11.
12.
Enter line 10 or 11, whichever is larger.
12.
13.
Line 7 minus line 12.
13.
14.
Multiply the number of exemptions claimed on your federal return by
$2500 ($2000 if your federal adjusted gross income equals or exceeds the
following amounts for your filing status: $60,000 - single; $80,000 - head
of household; $50,000 - married filing separately; or $100,000 - married
filing jointly.)
14.
15.
Line 13 minus line 14.
15.
16.
Figure your tax on the amount on line 15 using the Tax Table or the Tax
Rate Schedule in the instructions for Form D-400. Subtract the tax credits
shown on line 2, Part I, Form D-422, and enter the net amount for each
period.
16.
17.
Applicable percentage
17.
22.5%
45%
67.5%
90%
18.
Multiply line 16 by line 17.
18.
19.
Enter the combined amounts of line 25 for all preceding periods.
19.
20.
Line 18 minus Line 19. If less than zero, enter zero.
20.
21.
Divide line 8, Page 1 of Form D-422, by four (4) and enter the
21.
result in each column.
22.
Enter the amount from line 24 of this worksheet for the preceding column.
22.
23.
Add lines 21 and 22 and enter the total.
23.
24.
If line 23 is more than line 20, subtract line 20 from line 23.
Otherwise, enter zero.
24.
25.
Enter the smaller of line 20 or line 23 here and on Form D-422, line 16.
25.
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