Free 2008 DC-033 Form 4U Underpayment of Estimated Tax by Corporations - Wisconsin

Form

4U

UnderpaymentofEstimatedTaxbyCorporations
FilewithWisconsinForm4,4I,4T,5,or5S
Name FederalEmployerIDNumber

WisconsinDepartment ofRevenue

2008

PartI


ComputationofUnderpaymentandInterestDueonUnderpayment

1 a Enter2008taxbeforethesurchargeplustherecyclingsurcharge(see instructions)................ b Enter2008refundablecredits(excludingestimatedtaxandsurchargepaid). . . . . . . . . . . . . . . . . . . . . . c Subtractline1bfromline1a.Thisis2008nettaxandsurcharge.Iflessthan$500,enterzeroandgotoPartII,ifapplicable

2 Enter90%ofline1c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 a Enter2007taxbeforethesurchargeplustherecyclingsurcharge,ifapplicable(see instructions). . . . . b Enter2007refundablecredits(excludingestimatedtaxandsurchargepaid). . . . . . . . . . . . . . . . . . . . . . c Subtractline3bfromline3a.Thisis2007nettaxandsurcharge. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4 If2008netincomeislessthan$250,000and2007returncovered12months,entersmallerofline2or3c;otherwise,enterline2

5 Enterinstallmentduedates(the15thdayofthe3rd, 6th,9th,and12thmonthsofyourtaxableyear). . . . . . . . . . . . . .
6 Divideline4by4andentertheresultineachcolumnor, ifyouusetheannualizedincomeinstallmentmethodforany period,firstfillinPartIIIandentertheamountsfromline47 . . . . 7 Estimatedtaxandsurchargepaid. . . . . . . . . . . . . . . . . . . . . . . . . 8 Ifline7islessthanline6,subtractline7fromline6. Thisisyourunderpayment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Ifline7ismorethanline6,subtractline6fromline7. Thisisyouroverpayment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Carrybackofoverpaymentorlatepayment . . . . . . . . . . . . . . . . . 11 Carryforwardofoverpayment. . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Subtractthetotaloflines10and11fromline8.Thisis yournetunderpayment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Numberofdaysfromtheduedateoftheinstallmenttothe datecarrybackonline10waspaid. . . . . . . . . . . . . . . . . . . . . . . . 14 Numberofdaysfromtheduedateoftheinstallmenttothe datebalancedueonreturnwaspaidorunextendeddue dateofreturn,whicheverisearlier . . . . . . . . . . . . . . . . . . . . . . . . 15 Interest:12%peryearonamountonline10forthenumber ofdaysonline13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Interest:12%peryearonamountonline12forthenumber ofdaysonline14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(a)

(b)

(c)

(d)

17 Addalloftheamountsonlines15and16andenterthetotal.Ifyourreturnisfiledaftertheunextendedduedateand showsataxdue,enterthetotalonPartII,line22.Otherwise,enterthetotalonthelineprovidedonyourtaxreturn . . . . . . . . .

PartII

ComputationofTotalAmountDue
(a)Interestat 18%peryear
(90%)

Completethispartonlyifyourreturnisnotfiledbytheunextendedduedateand showsataxdue.
18 Ifreturnfiledlatewithoutanextension,enternettax(includingsurcharge). . . . . . . . . 19 Ifreturnfiledwithextendedduedateandshows­ a Nettax(includingsurcharge)of$500ormore,enterportionofnettaxindicated. . b Nettax(includingsurcharge)oflessthan$500,enternettax. . . . . . . . . . . . . . . . . 20 Enterpaymentsmade(applyfirstto18%peryearcolumn). . . . . . . . . . . . . . . . . . . . . 21 Subtractline20fromline18or19aor19b.Thisisamountdue15thdayof 3rdmonthafterendoftaxableyear . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 InterestonunderpaymentfromPartI,line17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Addlines21and22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 Interestonamountsonline23to (datereturnfiled). . . . .

(b)Interestat 12%peryear
(10%)

(c)Total

(18%peryear)

(12%peryear)*

25 Ifyourreturnisfiledlatewithoutanextensionoraftertheextendedduedate­ a Enterpenaltyof5%ofnettaxdueonyourreturnforeachmonthorfractionthereofthatyourreturnislate,butnotmorethan25% b Entera$30latefee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Addlines22,24,25a,and25b.Enterthetotalonthelineprovidedonyourreturnandincreasethe"AmountDue" . . . . . . . . . . *Note:Seetheinstructionsforline24.
DC-033

2008Form4U

Page2of2

AnnualizationPeriod Fill in this worksheet only if computing required installments using the annualized income installment method.Completeonecolumnthroughline47beforecomplet- (a)First2months (b)First5months (c)First8months (d)First11months ingthenextcolumn.Form 4T filers see instructions to figure lines 27 and 29. 27 EnterWisconsinnetincomeforeachperiod(see instructions). . 28 Annualizationfactor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Multiplyline27byline28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 Adjustments(NOLs,etc.­see instructions). . . . . . . . . . . . . . . . 31 Combinelines29and30.Thisisannualizedincome . . . . . . . . . . 32 Multiplyline31by7.9%(0.079).Thisisannualizedgrosstax. . . 33 Enteryournonrefundablecredits. . . . . . . . . . . . . . . . . . . . . . . . . 34 Subtractline33fromline32.Ifzeroorless,enterzero. . . . . . . . 35 Enterrecyclingsurcharge(basedonamountinthiscolumn) . . . 36 Addlines34and35. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 Enteryourrefundablecredits(excludingestimatedtaxandsurchargepaid) 38 Subtractline37fromline36.Ifzeroorless,enterzero. Thisisannualizednettax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 Applicablepercentage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 Multiplyline38byline39. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 Enterthecombinedamountsofline47fromallprecedingcolumns 42 Subtractline41fromline40.Ifzeroorless,enterzero. . . . . . . . 43 DividePart1,line4,by4andentertheresultineachcolumn . . . 44 Entertheamountfromline46fortheprecedingcolumn . . . . . . . 45 Addlines43and44andenterthetotal. . . . . . . . . . . . . . . . . . . . 46 Ifline45ismorethanline42,subtractline42fromline45. Otherwise,enterzero . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 Enterthesmallerofline42or45hereandonPart1,line6 . . . . PurposeofForm4U­Corporationsandtax-exemptorganizationsthat mustfileForm4TuseForm4Utodetermineiftheyaresubjecttointerest forunderpaymentofestimatedtaxand,ifso,theamountofinterest.Acorporationorexemptorganizationmusthavemadeestimatedtaxpayments ifthetotalofitstaxandrecyclingsurchargeforitstaxableyearbeginning in2008is$500ormore.Form4Uisalsousedtocomputebothextension anddelinquentinterestwheneverthetaxdueisnotpaidwithin2½months aftertheendofthetaxableyear. Part I ­ Compute any underpayment of required installments and the amountofinterestdueinPartI.Requiredinstallmentsdifferforlargeand smallcorporations.Forestimatedtaxpurposes,a"small"corporationis one having 2008 Wisconsin net income of less than $250,000, while a "large"corporationisonehaving2008Wisconsinnetincomeof$250,000 ormore.OnForm5S,netincomeistheamountonline3. Requiredinstallmentsforsmallcorporationsarebasedonthesmallerof (1)90%of2008Wisconsinnettax,(2)100%of2007Wisconsinnettax, providedthe2007returncoveredanentire12-monthperiod,or(3)90%of the2008Wisconsinnettaxfiguredbyannualizingincome. Requiredinstallmentsforlargecorporationsandforcorporationsthatdidn't filea2007Wisconsinreturncoveringa12-monthperiodarebasedonthe smallerof90%of2008Wisconsinnettaxor90%ofthe2008Wisconsin nettaxfiguredbyannualizingincome. Line1a.Entertheamountsfrom2008Form4,line16plusline17;Form 4I,line18plusline19;Form4T,line21plusline22;Form5,line10plus line11;orForm5S,line8plusline10. Line1b.Enteryourrefundablecreditsandwithholdingfrom2008Form 4,line22plusline23;Form4I,line24plusline25;Form4T,line27plus line28;Form5,line16plusline17;orForm5S,line15. Line3a.Entertheamountsfrom2007Form4,line16plusline17;Form 4I,line18plusline19;Form4T,line21plusline22;Form5,line10plus line11;orForm5S,line8plusline10. Line3b.Enteryourrefundablecreditsandwithholdingfrom2007Form4, line22plusline23;Form4I,line24;Form4T,line27plusline28;Form 5,line16plusline17;orForm5S,line15. Line10.Completeline10onlyifyouhaveanoverpaymentonline9for oneormoreinstallmentperiods.Theoverpaymentmaybecarriedback topriorinstallmentperiodsandoffsetagainstanunderpaymentforsuch periods.Ifyouuseoverpaymentsfrommorethanoneinstallmentperiod tooffsetanunderpaymentofoneperiod,fillinseparatelyonline10each carrybackusedtooffsettheunderpayment. Line11.Anyoverpaymentremainingaftercompletingline10shouldbe carriedforwardtothenextperiod. Lines13through17.Completetheselinestodeterminetheamountof interestdueontheunderpayment.Completelines13and15onlywhen anoverpaymentorlatepaymentiscarriedbackonline10.Ifyouapply morethanonepaymenttoagiveninstallment,attachastatementshowing aseparatecomputationforeachpayment. Ifyoudonothaveabalancedueafter2½monthsafterthecloseofyour taxableyear,entertheamountfromline17onyourfranchiseorincome taxreturn.Otherwise,entertheamountfromline17onPartII,line22,and completetherestofPartII. PartII­CompletePartIIonlyifyourreturnisnotfiledbytheunextended duedateandshowsabalancedue. Line24.The12%interestappliestothetaxonline23,columnb,onlyfor theextensionperiod.Computeinterestat18%peryearfromtheextended duedatetothedatethereturnisfiledonthesumofthetaxonline23, columnb,andthe12%interestonline24,columnb.Includethisadditional interestinthe"Total"online24,columnc. Line25a.The"nettaxdue"isthetotaltaxandrecyclingsurchargeless anyallowablecredits,withholding,andestimatedpaymentsmadebythe duedate,includingextensions,ofthereturn. PartIII­Ifyoucomputeoneormoreinstallmentsundertheannualized incomeinstallmentmethod,completePartIIIandentertheamountsfrom line47onPartI,line6.SeesectionTax2.89,WisconsinAdministrative Code,ifthetaxableyearcoverslessthan12months. Lines27and30.Donotincludeonline27itemswhichremainconstant fromperiodtoperiod,suchasnetbusinesslosscarryforwardsandamortizationofadjustmentsforchangesinmethodofaccounting.Instead,enter theseitemsonline30,columnsathroughd,intotal. ForfilersofForm4T,theperiodusedtofiguretaxableincomeforeach columnisasfollows:Columna,first1month;columnb,first4months; columnc,first7months;andcolumnd,first10months. Line29.ForfilersofForm4T,theannualizationfactortobeusedineach columnisasfollows:Columna,12;columnb,3;columnc,1.714;and columnd,1.2. 22.5% 45% 67.5% 90% 6 2.4 1.5 1.091

PartIII

AnnualizedIncomeInstallmentMethodWorksheet