INSTRUCTIONS: ESTIMATED TAX FOR CORPORATIONS (Form 1120-W)

Corporations required to file federal estimated tax use form 1120-W as a worksheet to calculate payments which must be made on a quarterly basis. This document can be obtained from the website of the Internal Revenue Service. To complete this form, you will also need the separate instructional booklet also available on this website.

Estimated Tax For Corporations 1120-W Step 1: If not filing for the calendar year printed on the form, enter the beginning and ending dates of your fiscal year at the top of the page.

Estimated Tax For Corporations 1120-W Step 2: On line 1, enter your taxable income expected for the tax year.

Estimated Tax For Corporations 1120-W Step 3: On line 2, enter $50,000 or the value on line 1, whichever is smaller.

Estimated Tax For Corporations 1120-W Step 4: Multiply line 2 by 15% and enter the resulting product on line 3.

Estimated Tax For Corporations 1120-W Step 5: Subtract line 2 from line 1 and enter the resulting difference on line 4.

Estimated Tax For Corporations 1120-W Step 6: On line 5, enter $25,000 or the value of line 4, whichever is smaller.

Estimated Tax For Corporations 1120-W Step 7: Multiply line 5 by 25% and enter the resulting product on line 6.

Estimated Tax For Corporations 1120-W Step 8: Subtract line 5 from line 4 and enter the resulting difference on line 7.

Estimated Tax For Corporations 1120-W Step 9: On line 8, enter $9,225,000 or the value from line 7, whichever is smaller.

Estimated Tax For Corporations 1120-W Step 10: Multiply line 8 by 34% and enter the resulting product on line 9.

Estimated Tax For Corporations 1120-W Step 11: Subtract line 8 from line 7 and enter the resulting difference on line 10.

Estimated Tax For Corporations 1120-W Step 12: Multiply line 10 by 35% and enter the resulting product on line 11.

Estimated Tax For Corporations 1120-W Step 13: On line 12, if line 1 is greater than $100,000, enter the smaller of 5% of the excess over $100,000 or $11,750. Otherwise, enter a zero.

Estimated Tax For Corporations 1120-W Step 14: Complete lines 13 through 25 as directed. This may require completion of Schedule A on the second and third pages as directed in the instruction booklet.