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Minnesota Free Printable 2019 EST, Additional Charge for Underpayment of Estimated Tax (for Trusts, Partnerships and S Corporations) for 2020 Minnesota Additional Charge for Underpayment of Estimated Tax

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Additional Charge for Underpayment of Estimated Tax
2019 EST, Additional Charge for Underpayment of Estimated Tax (for Trusts, Partnerships and S Corporations)

2019 Form EST, Additional Charge for Underpayment of Estimated Tax For Trusts (Form M2), Partnerships (Form M3) and S Corporations (Form M8) Name of Trust, Partnership or S corporation Federal Tax ID Number Minnesota Tax ID Number Required Annual Payment 1 Minnesota tax for 2019 (from line 14 of Form M2; line 4 of Form M3; or line 5 of Form M8) . . . . . . . . . . . . . . . . . . . . 1 2 Minnesota withholding and credits for 2019 (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Subtract line 2 from line 1 (if result is less than $500, stop here; you do not owe an additional charge) . . . . . . . . . . . . 3 4 Multiply line 1 by 90% (.90) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Minnesota income tax for 2018 (from line 14 of Form M2; line 4 of Form M3; or line 5 of Form M8). . . . . . . . . . . . . . 5 If you did not file a 2018 return or filed a 2018 return for less than a full 12-month period, skip line 5 and enter the amount from line 4 on line 6. 6 Required annual payment. Enter amount from line 4 or line 5, whichever is less . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 • If line 6 is less than or equal to line 2, stop here; you do not owe an additional charge. • If line 6 is more than line 2, continue with line 7 or line 13, depending on which method you use. Optional Short Method (see instructions to determine which method to use) 7 Estimated tax payments you made for 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 8 Add line 2 and line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Total underpayment for the year. Subtract line 8 from line 6 (if result is zero or less, stop here; you do not owe an additional charge) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Multiply line 9 by 2% (.02) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 11 • If the amount on line 9 will be paid on or after the regular due date for filing your return, enter 0. • If the amount was paid before the regular due date, use the following computation and enter the result on line 11: amount on line 9 X number of days paid before the regular due date X .00008 . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 12 Additional Charge. Subtract line 11 from line 10. Enter result here and on line 19 of Form M2, line 15 of Form M3 or line 18 of Form M8 . . . . . . . . . . . . . . . . . . . . . . 12 A B C Regular Method April 15, 2019 June 15, 2019 Sept. 15, 2019 13 Enter 25% (.25) of line 6 in each column . . . . . . . . . . . . . . . . . . . . . 13 14 Credits. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Overpayment. If line 14 is more than line 13, subtract line 13 from line 14. Enter the result here and add it to line 14 in the next column . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Underpayment. If line 14 is less than line 13, subtract line 14 from line 13.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Enter the date of payment or the regular due date for filing your return, whichever is earlier (see instructions) . . . . . . . . . 18 Number of days between the payment due date and the date on line 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . D Jan. 15, 2020 14 15 16 17 18 19 Divide line 18 by 365. The result is a decimal . . . . . . . . . . . . . . . . . 19 . . . . 20 Multiply line 19 by 5% (.05). Enter as a decimal . . . . . . . . . . . . . . . 20 . . . . 21 Multiply line 20 by line 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 22 Additional Charge. Add line 21, columns A-D. Enter result here and on line 19 of Form M2, line 15 of Form M3 or line 18 of Form M8 . . . . . . . . . . . . . . . . . . . . . . . 22 You must include this schedule with your Form M2, M3 or M8. 2019 Worksheet ESTa, Annualized Income Installment For Trusts (Form M2), Partnerships (Form M3) and S Corporations (Form M8) Name of Trust, Partnership or S corporation Federal Tax ID Number A B 1/1/2019 – 1/1/2019 – 3/31/2019 5/31/2019 S tep 1 Enter your adjusted gross income for each period. (see instructions) (Estates and Trust, enter your taxable income without your exemption for each period.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 S tep 2 Annualization Amounts (Estates and Trust, see instructions) . . . . . . . . . . . . . . 2 Step 3 Multiply step 1 by step 2 . . . . . . . . . . . . . . . . . . . . . . . 3 Step 4 Minnesota Additions . . . . . . . . . . . . . . . . . . . . . . . . . 4 Step 5 Add step 4 and step 3 . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Step 6 Minnesota Subtractions . . . . . . . . . . . . . . . . . . . . . . . 6 Step 7 Subtract step 6 from step 5 . . . . . . . . . . . . . . . . . . . . . 7 S tep 8 Figure tax for amount shown in step 7. Deduct appropriate nonrefundable credits . . . . . . . . 8 Step 9 Percentage for each period . . . . . . . . . . . . . . . . . . . . . 9 Step 10 Multiply step 8 by step 9 . . . . . . . . . . . . . . . . . . . . . . 10 4 22.50% 2.4 45% Minnesota Tax ID Number C D 1/1/2019 – 1/1/2019 – 8/31/2019 12/31/2019 1.5 1 67.50% 90% Complete steps 11-17, one column at time before moving to next column. Step 11 Step 12 Step 13 Add the amounts from step 17 from all preceding payment periods . . . . . . . . . . . . . . . . . . . . 11 Subtract step 11 from step 10 (if result is zero or less, enter 0) . . . . . . . . . . . . . . . . 12 Enter 25% (.25) of line 6 of Schedule EST in each column . . . . . . . . . . . . . . . . . . . 13 Step 14 Enter step 16 of the preceding column . . . . . . . . . . . 14 Step 15 Step 16 Step 17 Add step 13 and step 14 . . . . . . . . . . . . . . . . . . . . . . . 15 Subtract step 12 from step 15 (if result is zero or less, enter 0) . . . . . . . . . . . . . . . . 16 Amount from step 12 or step 15, whichever is less. Also enter this amount on line 13 of Schedule EST . . . . . . . . . . . . . . 17 Worksheet Instructions Step 1 Calculate your total income for each period (column). Calculate your total income minus your adjustments to income. Step 2 Estates and trusts do not use the amounts shown in columns (a) – (d). Use the following amounts instead: 6, 3, 1.71429, and 1.09091, respectively as the annualization amounts. Step 4 Determine your Minnesota Additions for each quarter. Enter the amounts in step 4. Step 6 Determine your Minnesota Additions for each quarter. Enter the amounts in step 6. Step 8 Minnesota Tax rate for composite tax and nonresident withholding tax is 9.85%. Take the amount from step 7 and multiple it by 9.85%. Add any minimum fee amount and/ or any other S corporation taxes and enter the result in the line for step 8. 2019 Schedule EST Instructions Additional Charge for Underpayment of Estimated Tax for Trusts (Form M2), Partnerships (Form M3) and S Corporations (Form M8) This schedule is not required if you are filing your first Minnesota tax return. Who Must File If you are a trust, partnership or S corporation, use this schedule to determine if you owe an additional charge for underpaying estimated tax. (Decedent estates are not subject to the additional charge.) You may owe an additional charge if one of the following is true: • you did not pay the correct amount of estimated tax by the due dates, even if you expect to receive a refund • your Minnesota tax liability for the current year, less any credits, is $500 or more Exception. You are not subject to an additional charge for underpayment of estimated tax if this is the first year you are filing a Minnesota tax return. Avoiding the Additional Charge To avoid an additional charge for underpayment of estimated tax, you must make the required estimated tax payments on time and pay the lesser of: • 90 percent of your current year’s original tax liability, less any credits • 100 percent of your prior year’s total tax liability, less any credit. However, if your Minnesota assignable gross income on your 2018 Form M2 is more than $150,000, you must use 110 percent of your previous year’s tax liability instead of 100 percent Fiscal Year Taxpayers If you file your Minnesota return on a fiscal year basis, change the payment due dates to the 15th day of the fourth, sixth and ninth months of your fiscal year, and the first month of your next fiscal year. Short Taxable Year If you have a short taxable year, the installments are due on the 15th day of the third, sixth, ninth and final months. No installment is required for a short taxable year of fewer than four months. Line Instructions These instructions refer to your original return. However, an amended return is considered the original return if it is filed by the regular due date of the original return. Line 2 — 2019 Withholding and Credits Trusts: Add lines 15b through 15e of your 2019 Form M2. Partnerships: Add lines 5, 6, and 9 of your 2019 Form M3. S corporations: Add lines 6, 7, and 12 of your 2019 Form M8. Optional Short Method or Regular Method You may use the optional short method only if one of the following is true: • you did not make any estimated tax payments • you paid your 2019 estimated tax in four equal amounts on or before the due date of each installment Note: If any payment was made before the installment due date, it is best to use the regular method. Using the short method will cause you to pay a larger additional charge than the regular method. If the payment was only a few days early, the difference is likely to be small. Continue with line 7 to use the optional short method, and skip lines 13-22. If you are not eligible or you choose not to use the optional short method, use the regular method to determine your additional charge. Skip lines 7–12 and continue with line 13. Optional Short Method Line 7 Enter the total amount of 2019 estimated tax payments you made in 2019 and 2020. Do not include any other amounts on line 7. Regular Method Complete column A, lines 13–16. Then, depending on whether you have an underpayment or an overpayment, either continue with line 17 of column A (underpayment) or line 13 of column B (overpayment). Line 13 Enter 25 percent (.25) of line 6 in each of the four columns on line 13. You may benefit from using the annualized income installment method if your income varied throughout the year or if you had a late capital gain or higher 4th quarter income. If you use this method for one payment due date, you must use it for all. Complete the worksheet on form ESTa.” Line 14 For each payment period, enter the total amount of: • estimated payments you paid for each payment period • Minnesota income tax withheld in 2019; • your 2018 income tax refund, if you elected on your 2018 Minnesota return to apply all or a portion of your refund to your 2019 estimated tax • any refundable credits you claim for 2019 You are considered to have received any refundable credits evenly during the year unless you show otherwise. Your 2018 refund, if any, is considered a credit to your first payment period. Lines 15 and 16 Compare line 13 of each column to line 14 of the same column. If line 14 is more than line 13, you have an overpayment for the payment period. Subtract line 13 from line 14 and enter the result on line 15. Add line 15 to the credit on line 14 of the next column. Overpayments in any quarter following an underpayment must first be applied to making up previous underpayments. If line 14 is less than line 13, you have an underpayment for that payment period. Subtract line 14 from line 13 and enter the result on line 16. Continue with line 17. Line 17 If you have an underpayment in all four quarters, in each column enter the date you filed your return or the regular due date for filing your return, whichever is earlier. Otherwise, enter the date when the underpayment on line 16 was paid in full. Example: You made your first quarter estimated tax payment on April 20, but you show an underpayment on line 16. On June 14, you paid your second quarter payment in full and included the underpayment from the first quarter. On line 17, you would enter June 14 in the first and second quarter columns.
Extracted from PDF file 2019-minnesota-form-est.pdf, last modified September 2012

More about the Minnesota Form EST Other TY 2019

This form is used when you underestimate the amount of taxes you have to pay during the current tax season.

We last updated the Additional Charge for Underpayment of Estimated Tax in February 2020, so this is the latest version of Form EST, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form EST directly from TaxFormFinder. You can print other Minnesota tax forms here.

Other Minnesota Other Forms:

TaxFormFinder has an additional 95 Minnesota income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form CRP Certificate of Rent Paid (for landlord use only)
Form W-4MN Minnesota Employee Withholding Allowance/Exemption Certificate (Revised 11/14)
Form AWC Alternative Withholding Certificate (for individual nonresident partners and shareholders; not for wage withholding) (Revised 7/14)
Form REV184 Power of Attorney
Form REV187 Authorization to Communicate through Email Transmission (Revised 12/05)

Download all MN tax forms View all 96 Minnesota Income Tax Forms


Form Sources:

Minnesota usually releases forms for the current tax year between January and April. We last updated Minnesota Form EST from the Department of Revenue in February 2020.

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Historical Past-Year Versions of Minnesota Form EST

We have a total of eight past-year versions of Form EST in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form EST

2019 EST, Additional Charge for Underpayment of Estimated Tax (for Trusts, Partnerships and S Corporations)

2018 Form EST

2017 EST, Additional Charge for Underpayment of Estimated Tax (for Trusts, Partnerships and S Corporations)

2017 Form EST

2017 EST, Additional Charge for Underpayment of Estimated Tax (for Trusts, Partnerships and S Corporations)

2016 Form EST

2012 EST, Additional Charge for Underpayment of Estimated Tax (for Trusts, Partnerships and S Corporations)

2015 Form EST

2012 EST, Additional Charge for Underpayment of Estimated Tax (for Trusts, Partnerships and S Corporations)

Additional Charge for Underpayment of Estimated Tax 2014 Form EST

2012 EST, Additional Charge for Underpayment of Estimated Tax (for Trusts, Partnerships and S Corporations)

2012 Form EST

2012 EST, Additional Charge for Underpayment of Estimated Tax (for Trusts, Partnerships and S Corporations)

2011 Form EST

2011 EST, Additional Charge for Underpayment of Estimated Tax (for Trusts, Partnerships and S Corporations)


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