Form 1040es-Me - Estimated Tax For Individuals (Page 2 of 4) in pdf

2012 ESTIMATED TAX WORKSHEET (Keep for your records)

Form 1040ES-ME

Total Income expected in 2012 (Line 1, Worksheet, Federal Form 1040ES) .................................................... 1.

Deduct: Interest on U.S. obligations, social security and railroad retirement beneﬁ ts, state income tax refunds,

and pension income deduction amounts (see worksheet below) included in Line 1 ......................................... 2.

Line 1 less Line 2 ............................................................................................................................................... 3.

Add - Interest from municipal and state bonds other than Maine ...................................................................... 4.

Adjusted gross income for Maine (Line 3 plus line 4) ........................................................................................ 5.

a. Deductions - itemized or standard (See below) ..................................................... 6a.

b. Exemptions - $2,850 for each exemption allowed on federal return ...................... 6b.

Total of lines 6a and 6b ...................................................................................................................................... 7.

Maine estimated taxable income (Line 5 less line 7) ......................................................................................... 8.

Estimated tax (Apply proper tax rate schedule below to amount on Line 8) ..................................................... 9.

10. Additional taxes (See instructions below) ........................................................................................................ 10.

11. Credits (See instructions below) ...................................................................................................................... 11.

12. Estimated Maine income tax to be withheld during the year ........................................................................... 12.

13. ESTIMATED TAX (Add lines 9 and 10 less lines 11 and 12) ........................................................................... 13.

ADDITIONAL TAXES AND CREDITS (Lines 10 and 11) - Additional taxes are the minimum tax, the tax on retirement plan distributions, and the

tax on early distributions from qualiﬁ ed retirement plans. Credits include, among others, the Maine earned income tax credit, credit for taxes

paid to other jurisdictions, child care credit, credit for the elderly, jobs and investment tax credit. For more information on additional taxes and

credits, see the 2011 Maine Form 1040ME, Schedule A and related instructions.

PENSION INCOME DEDUCTION WORKSHEET

— (include on Line 2 above)

NOTE: Enter eligible non-military pension beneﬁ ts on line 1 and eligible military pension beneﬁ ts on line 6.

1. Total eligible non-military pension income (both Maine and non-Maine sources) included in your federal

adjusted gross income (from federal Form 1040A, line 12b or federal Form 1040, line 16b). (Do not include

Taxpayer

Spouse*

social security or railroad retirement beneﬁ ts received or pension beneﬁ ts received from an individual

retirement account, simpliﬁ ed employee pension plan, an ineligible deferred compensation plan under IRC

§ 457(f), lump-sum distributions included on federal Form 4972, distributions subject to the additional 10%

federal tax on early distributions or refunds of excess contributions).

2. Maximum allowable deduction

$ 6,000.00

6,000.00

3. Total social security and railroad retirement beneﬁ ts you received - whether taxable or not

4. Subtract line 3 from line 2 (if zero or less, enter zero)

5. Enter the smaller of line 1 or line 4 here

6. Total eligible military pension income included in your federal adjusted gross income

7. Add line 5 and line 6

8. Enter the smaller of line 2 or line 7 here and the total for both spouses on line 2 above

*Use this column only if ﬁ ling married-joint return and only if spouse separately earned an eligible pension.

TAX RATE SCHEDULES

— (Line 9 above)

MAINE DEDUCTIONS

— (Line 6a above)

Itemized Deductions: If you plan to itemize deductions, enter the

For Single Individual and Married Person Filing Separate Return

estimated total of your itemized deductions (see Maine Form 1040,

If the taxable income is:

The Tax is:

Schedule 2 and related instructions). If you do not plan to itemize

Less than $ 5,100

2.0% of the taxable income

deductions, enter the standard deduction amount for your ﬁ ling status

$ 5,100 but less than $10,150

$ 102 plus 4.5% of excess over $ 5,100

shown below.

$10 ,150 but less than $ 20,350

$ 329 plus 7.0% of excess over $10,150

$ 20,350 or more

$ 1,043 plus 8.5% of excess over $ 20,350

Standard Deduction for 2012:

Single ---------------------- $5,950.00 Married Filing Jointly or Qualifying

For Unmarried or Legally Separated Individuals Who Qualify as

Head of Household ---- $8,700.00

Widow(er) ---------------$11,900.00

Heads of Households

Married Filing Separate -$5,950.00

If the taxable income is:

The Tax is:

Note: If you can be claimed as a dependent on another person’s return,

Less than $7,650

2.0% of the taxable income

the standard deduction is the greater of $950 or earned income plus $300

$ 7,650 but less than $ 15,200

$ 153 plus 4.5% of excess over $ 7,650

$ 15,200 but less than $ 30,500

$ 493 plus 7.0% of excess over $ 15,200

up to the standard deduction amount.

$ 30,500 or more

$ 1,564 plus 8.5% of excess over $ 30,500

Additional Standard Deduction for Age and/or Blindness:

Married (whether ﬁ ling jointly or separately) or a qualiﬁ ed widow(er):

For Married Individuals and Surviving Spouses Filing Joint Returns

the additional standard deduction is $1,150 if one spouse is age 65 or

If the taxable income is:

The Tax is:

over OR blind; $2,300 if one spouse is 65 or over AND blind; $2,300

Less than $10,200

2.0% of the taxable income

if both spouses are 65 or over OR blind; $4,600 if both spouses are

$ 10,200 but less than $ 20,350

$ 204 plus 4.5% of excess over $ 10,200

65 or over AND blind, etc.

$ 20,350 but less than $ 40,700

$ 661 plus 7.0% of excess over $ 20,350

Unmarried (single or head of household): the additional standard

$ 40,700 or more

$ 2,086 plus 8.5% of excess over $ 40,700

deduction is $1,450 if the individual is 65 or over OR blind; $2,900 if

the individual is both 65 or over AND blind.

Form 1040es-Me - Estimated Tax For Individuals Page 2

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