Schedule M15 - Underpayment Of Estimated Income Tax - 2017 Page 2
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4Worksheet - Annualized Income Installment
(a)
(b)
(c)
(d)
1/1/17–3/31/17
1/1/17–5/31/17
1/1/17–8/31/17
1/1/17–12/31/17
Step 1
Amount from line 11 of federal Schedule AI of Form 2210.
Step 2
Minnesota additions (see instructions below)
Step 3
Add step 1 and step 2
Step 4
Minnesota subtractions (see instructions below)
Step 5
Subtract step 4 from step 3
Step 6
Figure the tax for the amount shown in step 5. Deduct
appropriate nonrefundable credits . Include annualized
Minnesota alternative minimum tax.
Step 7
Percentage for each period
22.5%
45%
67.5%
90%
Step 8
Multiply step 6 by step 7
Complete Steps 9–15 of one column before going to the next column
Step 9
Add the amounts from step 15 from all preceding
payment periods .
Step 10
Subtract step 9 from step 8
(if result is zero or less, enter 0)
Step 11
Enter 25% (.25) of line 6 of Schedule M15 in each column
Step 12
Enter step 14 of the preceding column .
Step 13
Add step 11 and step 12
Step 14
Subtract step 10 from step 13
(if result is zero or less, enter 0)
Step 15
Amount from step 10 or step 13, whichever is less .
Also enter this amount on line 13 of Schedule M15.
Instructions for Above Worksheet
Step 2
Using the amounts from lines 2 and 3 of Form M1, determine your Minnesota additions for each period. Enter the total amounts in step 2.
Step 4
Using the amounts from lines 5 and 6 of Form M1, determine your Minnesota subtractions for each quarter.
Step 6 — Minnesota Alternative Minimum Tax
If the Minnesota alternative minimum tax applies, determine the amount of Minnesota alternative taxable income for each period. Multiply
that amount by the appropriate multiplier shown on line 2 of the federal Schedule AI of Form 2210. From the resulting annualized alterna-
tive minimum taxable income, subtract the appropriate minimum amounts depending on the filing status ($74,280 for married filing joint,
$37,140 for married filing separately, or $55,710 for single or head of household) and multiply the difference by 6.75 percent (.0675). If
the result is more than the regular tax shown on step 6, replace the regular tax with the Minnesota alternative minimum tax. See Schedule
M1MT for instructions on figuring the Minnesota alternative taxable income.
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