Form 140es - Individual Estimated Income Tax Payment - 2014 Page 2
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1
2Worksheet for Computing Estimated Payments for Individuals
For use with Arizona Form 140ES
S tep 1: Estimated Arizona Taxable Income
1 Use the estimated tax worksheet attached to IRS Form 1040ES and enter here the amount
00
shown as income on your federal worksheet ....................................................................................
1
S tep 2: Additions
Below are common items of income that are not taxable under the Internal Revenue
Code but are taxable under Arizona Revised Statutes. Estimate amounts and
enter in the spaces provided:
00
2 Non-Arizona municipal interest .......................................................................
2
3 Ordinary income portion of lump-sum distributions (excluded on your
00
federal return) ..................................................................................................
3
00
4 Other additions to income ...............................................................................
4
00
5 Total additions to income: Add lines 2 through 4 ..............................................................................
5
00
6 Add line 1 and line 5 ..........................................................................................................................
6
S tep 3: Subtractions
Below are common items not subject to tax in Arizona but taxable under the Internal
Revenue Code. Estimate amounts and enter in the spaces provided:
7 Amounts received as annuities from certain federal, Arizona state, or local
government retirement and disability funds (up to $2,500) that are subject to
00
federal tax ........................................................................................................
7
8 Interest income on obligations of the United States (e.g. U.S. savings bonds,
00
treasury bills, etc.) ...........................................................................................
8
9 Arizona state lottery winnings (up to $5,000) included as income on
00
federal return ...................................................................................................
9
10 U.S. Social Security benefits or Railroad Retirement Act benefits included
00
as income on federal return ............................................................................. 10
00
11 Other exempt income ...................................................................................... 11
00
12 Total subtractions: Add lines 7 through 11 ........................................................................................ 12
00
13 Subtract line 12 from line 6 ................................................................................................................ 13
S tep 4: Deductions and Exemptions
14 If you plan to itemize deductions, enter the estimated total of your deductions.
If you do not plan to itemize deductions, see the instructions for the
00
allowable 2013 standard deduction ................................................................. 14
00
15 Exemptions: Enter your allowable 2013 exemption amounts ......................... 15
00
16 Total deductions and exemptions: Add line 14 and line 15 ............................................................... 16
00
17 Subtract line 16 from line 13 .............................................................................................................. 17
S tep 5: Estimated Arizona Income Tax
18 Using Tax Table X or Y, use the amount on line 17 to calculate your Arizona
00
estimated tax liability. Enter your estimated tax liability here ............................................................ 18
00
19 Enter 90% (.90) of line 18 ................................................................................ 19
20 Enter the preceding year’s Arizona tax liability if you were required to file
00
and did file a return for the preceding year, otherwise skip this line ................ 20
21 If you entered an amount on line 20, enter the smaller of line 19 or line 20. Otherwise, enter the
00
amount from line 19 ........................................................................................................................... 21
00
22 Total Arizona income tax expected to be withheld (include all employment and pensions) .............. 22
00
23 Subtract line 22 from line 21, and base estimated payments on this amount ................................... 23
24 If the first payment you are required to make is due April 15, 2014, enter 1/4 of line 23 (minus any
00
2013 overpayment that you are applying to this installment) here and on your 140ES .................... 24
Print Page
Form 140ES (2014)
Page 2 of 2
ADOR 10575 (13)
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