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Montana Free Printable  for 2020 Montana Montana Fiduciary Estimated Income Tax Worksheet

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Montana Fiduciary Estimated Income Tax Worksheet
Form ESW-FID

CLEAR FORM MONTANA ESW-FID Rev 10 17 2018 Montana Fiduciary Estimated Income Tax Worksheet 15-30-2512, MCA Keep this worksheet for your records This worksheet helps you calculate an estimate of your 2018 income tax liability based on the information you have available. If your situation changes or you find out values you originally used to complete this worksheet are not accurate, you should complete this worksheet again with the updated information and adjust your remaining payments accordingly. To estimate your 2018 income tax liability (which is defined as the total tax imposed by Title 15, chapter 30, MCA, less any nonrefundable tax credits allowed under Montana law) you may use your 2017 income tax liability from Form FID-3, line 36. If you choose this method, skip lines 1 through 10a and enter your 2017 tax liability on line 10b; otherwise begin with line 1. 1. Enter your 2018 estimated Montana adjusted total income ������������������������������������������������������������1. 2. Enter the estimated amount of your: a. 2018 expected income distribution deduction.���������������������������������������������� 2a. b. 2018 exemption.��������������������������������������������������������������������������������������������2b. 2,440 Add lines 2a and 2b and enter the result.....................................................................................2. 3. Subtract line 2 from line 1 and enter the result. This is your 2018 estimated taxable income. If the result is zero or less, stop here. You do not need to make estimated tax payments in 2018 �������������3. 4. Calculate your estimated 2018 income tax: a. Multiply the amount on line 3 using the tax table on the second page of this form and enter the result............................................................................... 4a. b. If you have net capital gains included in your estimated Montana adjusted gross income on line 1, multiply the net capital gains amount (less the amount of net capital gains distributed to a beneficiary) by 2% (0.02) and enter the result..............................................................................................4b. Subtract line 4b from 4a and enter the result. This is your 2018 estimated resident tax after capital gains tax credit..............................................................................................................4. 5. Enter your 2018 estimated nonrefundable single-year credits and carryover credits ���������������������5. 6. Subtract line 5 from line 4 and enter the result. This is your 2018 estimated total tax after nonrefundable credits....................................................................................................................6. 7. Enter your estimated 2018 recapture taxes ������������������������������������������������������������������������������������7. 8. Add lines 6 and 7 and enter the result. This is your 2018 estimated total tax liability. Continue to line 9 on the next page.................................................................................................................8. 9. Your 2018 estimated total tax liability from line 8 ����������������������������������������������� 9. 10. a. Multiply line 9 by 90% (0.90) and enter the result....................................... 10a. b. Enter 100% of the tax liability shown on your 2017 income tax return Form FID-3, line 36...............................................................................................10b. Enter the smaller of line 10a or 10b. If you are unable to determine an amount for: (1) line 10a, use the amount on line 10b; or (2) line 10b, use the amount on line 10a..........................10. 11. a. Enter the estimated amount of your Montana income tax and mineral royalty tax withholding in 2018. (Examples include withholding on wages, pensions, annuities, pass-through entities, etc.)......................................... 11a. b. Enter the amount of your 2017 expected or actual overpayment that will be applied to your 2018 income taxb���������������������������������������������������������������� 11b. c. Enter the estimated amount of your 2018 refundable creditsc�������������������� 11c. Add lines 11a, 11b, and 11c and enter the result. This is your 2018 estimated payments..������ 11. 12. If you completed lines 1 through 9, subtract line 11 from line 9. If the result is less than $500, stop here. Based on the information you used in your calculations, you do not need to make estimated tax payments in 2018. If the result is $500 or more, or you did not complete lines 1 through 9, subtract line 11 from line 10 and enter the amount. Continue to line 13.......................12. Payment Due Dates a. b. c. d. April 15, 2018 June 15, 2018 Sept 15, 2018 Jan 15, 2019 13. Divide the amount on line 12 by four (4) and enter the result in each of the columns to the right. This is your estimated tax payment due for each period, unless you have chosen to use the annualized income installment method calculated on Montana Form ESA-FID – Estimated Tax Annualization Worksheet...........................13. If the payment date falls on a weekend or a holiday, your payment is due on the next business day. 2018 Montana Individual Income Tax Table If Your Taxable Multiply If Your Taxable Multiply But Not And This Is But Not And This Is Income Is Your Taxable Income Is Your Taxable More Than Subtract Your Tax More Than Subtract Your Tax Income By Income By More Than More Than $0 $3,000 1% (0.010) $0 $10,800 $13,900 5% (0.050) $270 $3,000 $5,200 2% (0.020) $30 $13,900 $17,900 6% (0.060) $409 $5,200 $8,000 3% (0.030) $82 More Than $17,900 6.9% (0.069) $570 $8,000 $10,800 4% (0.040) $162 For example: Taxable income $6,800 X 3% (0.030) = $204. $204 minus $82 = $122 tax Important: Starting with tax year 2017, you may receive an automatic six-month extension to file your Montana income tax return. However, an extension of time to file is not an extension of time to pay. If you send a tax payment after the original due date of the return, interest and penalties will continue to accrue. To avoid interest and late payment penalty, you may make an extension payment by April 15 for additional taxes you expect to owe. The late payment penalty may be waived if taxes and interest are paid when you file your return. Form ESW-FID Instructions What is the purpose of Form ESW-FID? The purpose of this form is to assist a fiduciary in calculating the 2018 estimated income tax. Estimated tax payments are a method used to pay tax on income that is not subject to withholding. Examples of income that may not be subject to withholding include interest, dividends, rents, capital gains, royalties, etc. Is a fiduciary required to make estimated tax payments? A fiduciary for an estate or trust is required to make estimated tax payments in 2018 if the estate or trust expects to owe an income tax liability of at least $500 after subtracting tax credits and withholding payments. If a fiduciary is required to make estimated tax payments, these payments will be the lesser of: ●● 100% of the 2017 Montana tax liability reported on Form FID-3, line 36, or ●● 90% of the 2018 Montana income tax liability. Who is not required to make estimated payments? The fiduciary is not required to make estimated tax payments in 2018 if the estate or trust meets one of the following criteria: ●● The 2018 income tax due after credits and withholding is less than $500, ●● The 2017 tax period covered 12 months and the Montana tax due was zero, or ●● The estate or trust was not required to file a 2017 Montana income tax return. ●● At least 2/3 of the estate or trust’s gross income is derived from farming and ranching operations. (Montana does not apply a “lookback” provision to determine farming and ranching gross income.) When are the estimated tax payments due? When a fiduciary files an estate’s or trust’s tax return on a calendar year basis, it may prepay all of the estimated taxes for 2018 by April 15, 2018, or it may pay them in four equal amounts that are due on the dates listed below. First payment - due April 15, 2018 Second payment - due June 15, 2018 Third payment - due Sept 15, 2018 Fourth payment - due Jan 15, 2019 If any of these installment dates fall on a weekend or a holiday, the payment is due on the next business day. If a fiduciary files an estate’s or trust’s tax return on a fiscal year basis, the payment dates are the 15th day of the fourth, sixth, and ninth months of the fiscal year and the first month of the following fiscal year. What does a fiduciary need to do if the income situation for an estate or trust changes during the year? If an estate’s or trust’s tax situation changes during the year, the fiduciary will need to recalculate the estimated tax payments. The remaining installment payments will need to be proportionally changed so that the balance of the estimated payments is paid equally over the remaining installment periods. How does an estate or trust determine the amount of estimated withholding that it will have in 2018? A fiduciary can use the 2018 paycheck or pension check stubs received to date to estimate the amount of withholding that the estate or trust may have in 2018. In addition, remember to include in payments any 2017 overpayments that are credited to 2018, any backup withholding that may be made on behalf of the estate or trust from a pass-through entity (the 2017 pass-through withholding constitutes a reasonable estimate of the 2018 pass-through withholding), or any estimated refundable credits, such as the elderly homeowner/renter credit. A fiduciary did not make estimated tax payments in 2018 and the income tax due of the estate or trust is more than $500. Is the estate or trust subject to any penalties and interest on the underpayment? Yes. A fiduciary is required to pay the income tax liability of an estate or trust throughout the year. Payments can be made through employer withholding, installment payments of estimated taxes, or a combination of employer withholding and estimated tax payments. If a fiduciary did not pay in advance at least 90% of the 2018 income tax liability (after applying credits) or 100% of the 2017 income tax liability (after applying credits), the fiduciary may have to pay interest on the underpayment of the estimated tax. How can a fiduciary make estimated tax payments? e-Pay TransAction Portal – Pay your estate and trust taxes online at https://tap.dor.mt.gov. ●● e-check (free) or ●● credit/debit card (small fee) ACH Credit Program – Send payments from your financial institution. Visit revenue.mt.gov under Online Services for more information. Pay by Check ●● Make your check payable to Montana Department of Revenue. ●● Write your FEIN and tax year in the memo line of your check. ●● Include a FID payment voucher which can be found at revenue.mt.gov. Mail your payment to: Montana Department of Revenue PO Box 6309 Helena, MT 59604-6309 Administrative Rules of Montana: 42.17.304 through 42.17.309, 42.17.313 through 42.17.315 and 42.30.103 Questions? Please call us at (406) 444-6900.
Extracted from PDF file 2017-montana-form-esw-fid.pdf, last modified July 2017

More about the Montana Form ESW-FID Corporate Income Tax Estimated

This form is for corporations to fill out their estimated income tax for the year.

We last updated the Montana Fiduciary Estimated Income Tax Worksheet in January 2018, and the latest form we have available is for tax year 2017. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Montana Department of Revenue. You can print other Montana tax forms here.

Other Montana Corporate Income Tax Forms:

TaxFormFinder has an additional 78 Montana income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form INA-CT Affidavit of Inactivity for Corporations, Partnerships and Disregarded Entities (OBSOLETE)
Form NOL Montana Net Operating Loss
Form MSA Montana Medical Care Savings Account (DISCONTINUED)
Schedule K-1 Beneficiary's Share of Income (Loss), deductions and credits
Form FID-3 Estates and Trusts (Fiduciary) Income Tax Return

Download all MT tax forms View all 79 Montana Income Tax Forms


Form Sources:

Montana usually releases forms for the current tax year between January and April. We last updated Montana Form ESW-FID from the Department of Revenue in January 2018.

Show Sources >

Form ESW-FID is a Montana Corporate 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 Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Montana Form ESW-FID

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



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