Fillable Form Awc - Alternative Withholding Certificate For Year printable pdf download

AWC

Alternative Withholding Certificate for Year

for Nonresident Individual Partners and Shareholders

For use by nonresident individual partners or shareholders subject to Minnesota withholding. Complete a certificate each year

you wish to reduce the amount withheld by the partnership or S corporation .

First name and initial

Last name

Social Security number

Address (street, apartment number, route)

City

State

Zip code

1 Your estimated share of Minnesota distributive income from this partnership or S corporation

or your estimated total Minnesota taxable income for the tax year, whichever is less . . . . . . . . . . . . . . . . . 1

2 Multiply line 1 by 9 .85 percent ( .0985) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

3 Minnesota individual estimated tax you paid for the tax year . . . . . . . . . . . . . . . 3

4 Minnesota income tax withheld from other income (from Form W-2 or W-2P) . . 4

5 Add lines 3 and 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

6 Subtract line 5 from line 2 . This is the amount you are requesting to be withheld . . . . . . . . . . . . . . . . . . . 6

Partner or shareholder: I declare that this form is correct and complete to the best of my knowledge and belief.

Signature

Daytime phone

Date

Partner or shareholder: Complete, sign and date this certificate. Give the original form

To be completed by the entity:

to the partnership or S corporation before the end of the entity’s tax year .

Name of partnership or S corporation

Partnership or S corporation: Enter the partnership’s or S corporation’s name, federal

Federal ID number

Minnesota ID number

and Minnesota tax ID numbers at right . Include a copy of each AWC you receive when

you file your Form M3 or M8 tax return.

Instructions

Partnerships and S corporations are re-

• has Minnesota taxable income less than

withheld by this partnership or S corpora-

quired to withhold Minnesota income tax

the distributive income received from this

tion.

for any nonresident individual partner or

entity, due to losses from other Minne-

shareholder who:

sota sources.

Filing Form AWC

• is not included in composite income tax,

Sign and date the completed form, and give

Who should file Form AWC

and

it to the partnership or S Corporation. The

Complete this form if you are a nonresident

• has Minnesota distributive income of

entity needs this information before it can

individual partner of a partnership or share-

$1,000 or more.

file their tax return. The entity must file all

holder of an S corporation and you:

AWC forms with their original return by the

The entity is required to withhold 9.85

prescribed due date.

percent of the partner’s or shareholder’s

• expect to receive Minnesota distribu-

Minnesota source distributive income, less

tive income of $1,000 or more from this

Do not file this certificate with your Form

any credits that are passed through to the

partnership or S corporation, and

M1 or send it directly to the department. To

partner or shareholder.

• you want less than 9.85 percent of your

claim the amount withheld, you must file

Minnesota source distributive income to

However, the department will permit a

Form M1, Minnesota Individual Income

be withheld by the entity.

smaller amount of tax to be withheld if it

Tax Return, and include the Schedule KPI

more accurately reflects the Minnesota tax

or KS you receive from the partnership or

If you intend to have 9.85 percent of your

the partner or shareholder owes. For ex-

S corporation.

distributive income to be withheld or you

ample, a partner or shareholder may request

choose to be included in composite income

If your Form AWC is found to be false, the

that the amount withheld be reduced if he

tax, there is no need to complete this form.

department may require that in future years

or she:

the partnership or S corporation withhold

Do not use this form for wage withholding.

• paid Minnesota estimated tax or had

the maximum percentage of your Minne-

Minnesota withholding tax taken out of

This certificate is effective for one tax year.

sota distributive income, even if you submit

wage income, or

You must complete a new Form AWC for

an alternative withholding certificate.

each year you wish to change the amount

Rev . 10/13

Form Awc - Alternative Withholding Certificate For Year

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