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Minnesota Free Printable 2019 M15NP, Additional Charge for Underpayment of Estimated Tax for 2020 Minnesota Additional Charge for Underpayment of Estimated Tax

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Additional Charge for Underpayment of Estimated Tax
2019 M15NP, Additional Charge for Underpayment of Estimated Tax

2019 M15NP Additional Charge for Underpayment of Estimated Tax For tax-exempt organizations, cooperatives, homeowners associations and political organizations with unrelated business income. Complete this schedule if your total tax is more than $500 or you did not pay the correct amount of estimated tax by the due dates. Name of Organization FEIN Minnesota Tax ID Check installment method used on this schedule (must check one box): Standard Installment Method Adjusted Seasonal Installment Method Annualized Income Installment Method You must round amounts to nearest whole dollar. 1 Enter your 2019 total tax liability (from 2019 M4NP, line 15 minus line 18) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 If $500 or less, do not complete this form. You owe no additional charge. 2 Enter your 2018 regular tax (from 2018 Form M4NP, line 15 minus line 18) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Required annual payment. Enter the amount from line 1 or line 2, whichever is less . . . . . . . . . . . . . . . . . . . . . . . 3 Exceptions: If you did not file a 2018 return or filed a return for less than a full 12-month period in the preceding tax year, or you did not have a 2018 tax liability, you must enter the amount from line 1. 1st Quarter 2nd Quarter 3rd Quarter 4 Enter the due dates . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Required installments (see instructions) . . . . . . . . . 5 6 Amount paid each period (see instructions) . . . . . . 6 Complete lines 7–13 for one column before completing the next column. For the first column only, enter the amount from line 6 on line 10. 7 Enter the amount from line 13 of the previous column . . . . . . . . . . . . . 7 8 Add lines 6 and 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Add lines 11 and 12 of the previous column . . . . . . . . . . . . . . . . . . . . . . 9 10 Subtract line 9 from line 8. If less than zero, enter zero . . . . . . . . . . . . . . . . . . 10 11 Remaining underpayment from previous period. If line 10 is zero, subtract line 8 from line 9. Otherwise, enter zero . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 12 UNDERPAYMENT. If line 10 is less than or equal to line 5, subtract line 10 from line 5, enter the result and go to line 6 of the next column. Otherwise, go to line 13 . . . . . . . . . . . . . . 12 13 OVERPAYMENT. If line 5 is less than line 10, subtract line 5 from line 10 and enter the result. Go to line 6 of the next column . . . . . . . . . 13 14 Date underpayment is paid or regular due date of 2019 return, whichever is earlier . . . . . . . 14 15 Number of days from the due date on line 4 to the date on line 14 . . . . . . . . . . . . . . . . . . 15 16 Additional charge (line 15 ÷ 365 × .05 × line 12) . . . . . . . . . . . . . . . . . 16 17 TOTAL. Add amounts on line 16. Enter this amount on M4NP, line 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Attach this schedule to Form M4NP. 9995 4th Quarter 2019 Schedule M15NP Instructions Installment Methods Generally, you would choose the standard installment method unless your income varied during the year. If your income varied, see Alternative Methods on this page. Check the appropriate box to indicate the installment method being used. Required Annual Payment Line 3 Enter the amount from line 1 or line 2, whichever is less, unless one of the following exceptions apply: Exceptions: You must enter the amount from line 1 on line 3, if any of the following exceptions apply: • you did not file a 2018 return • you filed a return for less than a full 12-month period in the preceding tax year • you did not have a 2018 tax liability [Minnesota Statute, Chapter 289A.26, subdivision 7(2)]. Figuring the Underpayment Line 4 The due dates of the installments are the 15th day of the third, sixth, ninth and 12th months of the 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 5 Each required installment is 25% of the amount on line 3 unless you use an alternative method (see Alternative Methods). To determine the amount of each required installment for a short taxable year, divide the amount on line 3 by the number of installments due. Line 6 In the first column, enter payments made by the 15th day of the third month of the tax year. Include any overpayment from your 2018 return that was credited to your 2019 estimated tax account. For each of the other columns, enter payments made after the previous column’s due date and by that column’s due date shown on line 4. Computing the Additional Charge Lines 14 through 17 Payments of estimated tax are applied against any underpayments of required installments in the order that the installments were due. For example, if your first-quarter installment is underpaid by $100 and you deposit $200 for your second-quarter installment, $100 of your second-quarter payment is applied to the first quarter. The additional charge for the first quarter is computed from the first-quarter due date to the date the second-quarter payment is made. Also, the second-quarter installment will then be underpaid by $100 (assuming that the second-quarter’s required installment is $200) until sufficient payments are received to eliminate the underpayment. If more than one payment has been made for a required installment, attach a separate computation for each payment. Alternative Methods If your income varied during the year, there are two alternative methods of determining the required installment: • Adjusted Seasonal Installment Method • Annualized Income Installment Method To use one or both of these methods to figure one or more required installments, complete Schedule A of federal Form 2220 and make the following adjustments for Minnesota tax purposes. Lines 1a, 1b, 1c and 2. Column (a) of these lines should include income for the first two months of each tax year. Lines 3a, 3b and 3c. Column (a) of these lines should include income for the first three months of each tax year. Line 10. Use the tax rate of 9.8%. Line 20. Enter your Minnesota annualization periods, using the following: • In Column (a), enter 2. • In Column (b), enter either 2 or 5. • In Column (c), enter either 6 or 8. 1 Continued 2019 Schedule M15NP Instructions (Continued) • In Column (d), enter either 9 or 11. Line 21. Enter your Minnesota taxable income for the periods entered on line 20. Line 22: If your annualization period on line 20 is: your annualization amount for the period is: 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.4 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.5 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.33333 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.09091 Line 24. Use the tax rate of 9.8%. Line 35. Enter 25% (0.25) of line 3 of Schedule M15NP in each column. Line 38. Enter the required installments from line 38 on line 5 of this Schedule M15NP. Attach the federal schedule to this schedule if an alternative method is used for any installment. 2
Extracted from PDF file 2019-minnesota-form-m15np.pdf, last modified October 2012

More about the Minnesota Form M15NP Individual Income Tax Estimated TY 2019

This is a form for when you pay too little on your estimated taxes for the year.

We last updated the Additional Charge for Underpayment of Estimated Tax in March 2020, so this is the latest version of Form M15NP, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form M15NP directly from TaxFormFinder. You can print other Minnesota tax forms here.

Other Minnesota Individual Income Tax 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 M1PR Instructions Homestead Credit Refund and Renter’s Property Tax Refund Instruction Booklet
Form M1PR Homestead Credit Refund (for Homeowners) and Renters Property Tax Refund
Form M1 Individual Income Tax Return
Form M1M Income Additions and Subtractions (onscreen version)
Form M1W Minnesota Income Tax Withheld (onscreen version)

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 M15NP from the Department of Revenue in March 2020.

Show Sources >

Form M15NP is a Minnesota Individual Income Tax form. While most taxpayers have income taxes automatically withheld every pay period by their employer, taxpayers who earn money that is not subject to withholding (such as self employed income, investment returns, etc) are often required to make estimated tax payments on a quarterly basis. Failure to make correct estimated payments can result in interest or penalties.

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Minnesota Form M15NP

We have a total of nine past-year versions of Form M15NP in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form M15NP

2019 M15NP, Additional Charge for Underpayment of Estimated Tax

2018 Form M15NP

2018 M15NP, Additional Charge for Underpayment of Estimated Tax

2017 Form M15NP

2017 M15NP, Additional Charge for Underpayment of Estimated Tax

2016 Form M15NP

2011 M15NP, Additional Charge for Underpayment of Estimated Tax

2015 Form M15NP

2011 M15NP, Additional Charge for Underpayment of Estimated Tax

Additional Charge for Underpayment of Estimated Tax 2014 Form M15NP

2011 M15NP, Additional Charge for Underpayment of Estimated Tax

2013 Additional Charge for Underpayment of Estimated Tax 2013 Form M15NP

2011 M15NP, Additional Charge for Underpayment of Estimated Tax

2012 Form M15NP

2011 M15NP, Additional Charge for Underpayment of Estimated Tax

2011 Form M15NP

2011 M15NP, Additional Charge for Underpayment of Estimated Tax


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