1120 W Estimated Tax for Corporations

Form

1120-W

(WORKSHEET)
Department of the Treasury
Internal Revenue Service

Estimated Tax for Corporations
For calendar year 2014, or tax year beginning
▶

OMB No. 1545-0975

, 2014, and ending

, 20

Information about Form 1120-W and its separate instructions is at www.irs.gov/form1120.
(Keep for the corporation’s records—Do not send to the Internal Revenue Service.)

2014

Estimated Tax Computation
1

Taxable income expected for the tax year . . . . . . . . . .
1
Qualified personal service corporations (defined in the instructions), skip lines 2 through 13 and go
to line 14. Members of a controlled group, see instructions.

2
3
4
5
6
7
8
9
10
11
12

Enter the smaller of line 1 or $50,000 . . . . . . . . . . .
2
Multiply line 2 by 15%
. . . . . . . . . . . . . . . . . . . . . . . . .
Subtract line 2 from line 1 . . . . . . . . . . . . . . .
4
Enter the smaller of line 4 or $25,000 . . . . . . . . . . .
5
Multiply line 5 by 25%
. . . . . . . . . . . . . . . . . . . . . . . . .
Subtract line 5 from line 4 . . . . . . . . . . . . . . .
7
Enter the smaller of line 7 or $9,925,000 . . . . . . . . . .
8
Multiply line 8 by 34%
. . . . . . . . . . . . . . . . . . . . . . . . .
Subtract line 8 from line 7 . . . . . . . . . . . . . . .
10
Multiply line 10 by 35% . . . . . . . . . . . . . . . . . . . . . . . . .
If line 1 is greater than $100,000, enter the smaller of (a) 5% of the excess over $100,000 or (b)
$11,750. Otherwise, enter -0- . . . . . . . . . . . . . . . . . . . . . . .
If line 1 is greater than $15 million, enter the smaller of (a) 3% of the excess over $15 million or (b)
$100,000. Otherwise, enter -0- . . . . . . . . . . . . . . . . . . . . . . .

13

3

6

9
11
12
13

14

Add lines 3, 6, 9, and 11 through 13. (Qualified personal service corporations, multiply line 1 by 35%.) .

14

15

Alternative minimum tax (see instructions) .

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15

16

Total. Add lines 14 and 15 .

17

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16

Tax credits (see instructions)

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17

18

Subtract line 17 from line 16

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18

19

Other taxes (see instructions)

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19

20

Total tax. Add lines 18 and 19 .

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20

Credit for federal tax paid on fuels and other refundable credits (see instructions) . . . . . .
Subtract line 21 from line 20. Note: If the result is less than $500, the corporation is not required
to make estimated tax payments . . . . . . . . . . . . . . . . . . . . . .
23a Enter the tax shown on the corporation’s 2013 tax return (see instructions). Caution: If the tax is zero or
the tax year was for less than 12 months, skip this line and enter the amount from line 22 on line 23b .
b Enter the smaller of line 22 or line 23a. If the corporation is required to skip line 23a, enter the
amount from line 22 . . . . . . . . . . . . . . . . . . . . . . . . . .

21

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21
22

(a)
24
25

Installment due dates (see
instructions) . . . . . . ▶

24

Required installments. Enter
25% of line 23b in columns (a)
through (d). If the corporation
uses the annualized income
installment method or adjusted
seasonal installment method or is
a “large corporation," see the
instructions for the amount to
enter . . . . . .

25

For Paperwork Reduction Act Notice, see instructions.

(b)

Cat. No. 11525G

22
23a
23b

(c)

(d)

Form

1120-W

(2014)

Form 1120-W (WORKSHEET) 2014

Page

2

Schedule A

Adjusted Seasonal Installment Method and Annualized Income Installment Method
(see instructions)
Part I
Adjusted Seasonal Installment Method
(a)
(b)
(c)
(Use this method only if the base period percentage for any 6
consecutive months is at least 70%.)
1
a

Enter taxable income for the following periods:
Tax year beginning in 2011.

1b

c

1c

3
a

Tax year beginning in 2013.
Enter taxable income for each period for the tax year beginning in
2014 (see instructions for the treatment of extraordinary items).
Enter taxable income for the following periods:
Tax year beginning in 2011.

c

Tax year beginning in 2013.
Divide the amount in each column on line 1a by the amount in
column (d) on line 3a.
Divide the amount in each column on line 1b by the amount in
column (d) on line 3b.
Divide the amount in each column on line 1c by the amount in
column (d) on line 3c.

3c

7

Add lines 4 through 6.

7

8

Divide line 7 by 3.0.

8

6

9a
b
c
10

Divide line 2 by line 8.
Extraordinary items (see instructions).
Add lines 9a and 9b.
Figure the tax on the amount on line 9c by following the same
steps used to figure the tax on page 1, line 14.
11a Divide the amount in columns (a) through (c) on line 3a by the
amount in column (d) on line 3a.
b Divide the amount in columns (a) through (c) on line 3b by the
amount in column (d) on line 3b.
c Divide the amount in columns (a) through (c) on line 3c by the
amount in column (d) on line 3c.

First 6 months

First 9 months

Entire year

6

9a
9b
9c
10
11a
11b
11c
12

13
14

Divide line 12 by 3.0.
Multiply the amount in columns (a) through (c) of line 10 by
the amount in the corresponding column of line 13. In column
(d), enter the amount from line 10, column (d).
Enter any alternative minimum tax for each payment period
(see instructions).
Enter any other taxes for each payment period (see instructions).
Add lines 14 through 16.
For each period, enter the same type of credits as allowed on
page 1, lines 17 and 21 (see instructions).

13

Subtract line 18 from line 17. If zero or less, enter -0-.

19

19

First 4 months

5

Add lines 11a through 11c.

16
17
18

First 11 months

4

12

15

First 8 months

3a
3b

5

First 5 months

2

b Tax year beginning in 2012.

4

First 3 months

1a

b Tax year beginning in 2012.

2

(d)

14
15
16
17
18

Form

1120-W

(2014)

Form 1120-W (WORKSHEET) 2014

Part II

Page

Annualized Income Installment Method
(a)
First

20
21

Annualization periods (see instructions).
Enter taxable income for each annualization period (see
instructions for the treatment of extraordinary items).

20

22

Annualization amounts (see instructions).

22

23a

Annualized taxable income. Multiply line 21 by line 22.

23a
23b

c

Add lines 23a and 23b.
Figure the tax on the amount in each column on line 23c by
following the same steps used to figure the tax on page 1, line
14.
Enter any alternative minimum tax for each annualization
period (see instructions).
Enter any other taxes for each annualization period (see
instructions).

23c

Total tax. Add lines 24 through 26.
For each annualization period, enter the same type of credits
as allowed on page 1, lines 17 and 21 (see instructions).
Total tax after credits. Subtract line 28 from line 27. If zero or
less, enter -0-.

27

30

Applicable percentage.

30

31

Multiply line 29 by line 30.

31

25
26

27
28
29

Part III

33
34
35

36

37
38

(c)

(d)

First

First

months

months

months

months

25%

50%

75%

100%

1st installment

2nd installment

3rd installment

4th installment

24
25
26

28
29

Required Installments

Note: Complete lines 32 through 38 of one column before
completing the next column.
32

(b)
First

21

b Extraordinary items (see instructions).

24

3

If only Part I or Part II is completed, enter the amount in each
column from line 19 or line 31. If both parts are completed,
enter the smaller of the amounts in each column from line 19
or line 31.
Add the amounts in all preceding columns of line 38 (see
instructions).
Adjusted seasonal or annualized income installments.
Subtract line 33 from line 32. If zero or less, enter -0-.
Enter 25% of page 1, line 23b in each column. (Note: “Large
corporations,” see the instructions for page 1, line 25 for the
amount to enter. )
Subtract line 38 of the preceding column from line 37 of the
preceding column.
Add lines 35 and 36.
Required installments. Enter the smaller of line 34 or line 37
here and on page 1, line 25 (see instructions).

32
33
34

35
36
37
38
Form

1120-W

(2014)