Form D-422a - Annualized Income Installment Worksheet - 2014

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D-422A
Web
Annualized Income
12-14
Installment Worksheet 2014
Name(s) shown on tax return
Social Security Number
Do not file this form with your return. Keep it for your records.
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
figuring earlier installments). If you use the annualized income installment
example, you operated your business on a seasonal basis, you may be
able to lower or eliminate the amount of your required installment for the
method, you must enter the amount from line 23 of the worksheet in each
due dates by using the annualized income installment method. Use Form
column of line 16 of Form D-422 and check the box on that line.
D-422A, Annualized Income Installment Worksheet, to figure the amounts
Important Information for Part-Year Residents and Nonresidents: Part-
to enter on line 16 of Form D-422, Underpayment of Estimated Tax by
year residents and nonresidents should complete only the column(s) for
Individuals. Also enter the letter A in the box by line 23e 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 13 by the decimal amount
of each required installment, the worksheet automatically selects the smaller
shown on line 13 of Form D-400 before determining the tax on line 14.
of the annualized income installment or the regular installment (increased
Annualized Income Installment Worksheet
1-1-14 to
1-1-14 to
1-1-14 to
1-1-14 to
Complete one column through line 25 before completing the next column
3-31-14
5-31-14
8-31-14
12-31-14
1.
Enter your federal adjusted gross income for each period.
1.
2.
Enter the applicable additions to federal adjusted gross income (line 7 of
2.
Form D-400) for each period.
3.
Add lines 1 and 2.
3.
4.
Enter the applicable deductions from federal adjusted gross income (line
9 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 Form D-400, page 1, line 11 for the
period shown in each column. 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 N.C. standard deduction from Form D-400, page 1, line 11.
11.
12.
Enter line 10 or 11, whichever is larger.
12.
13.
Line 7 minus line 12.
13.
14.
Figure your tax by multiplying the amount on line 13 by 5.8% (.058).
Subtract the tax credits shown on line 2, Part 1, Form D-422, and enter
the net amount for each period.
14.
15.
Applicable percentage
15.
22.5%
45%
67.5%
90%
16.
Multiply line 14 by line 15.
16.
17.
Enter the combined amounts of line 23 for all preceding periods.
17.
18.
Line 16 minus Line 17. If less than zero, enter zero.
18.
19.
Divide line 8, Page 1 of Form D-422, by four (4) and enter the
19.
result in each column.
20.
Enter the amount from line 22 of this worksheet for the preceding column.
20.
21.
Add lines 19 and 20 and enter the total.
21.
22.
If line 21 is more than line 18, subtract line 18 from line 21.
Otherwise, enter zero.
22.
23.
Enter the smaller of line 18 or line 21 here and on Form D-422, line 16.
23.

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