Instructions For Form Ph-1040es - Estimated Tax Payments printable pdf download

INSTRUCTIONS FOR FORM PH-1040ES

WHO MUST MAKE ESTIMATED TAX PAYMENTS:

• Individuals - Generally, you must make estimated tax payments any year that your total City tax

will exceed amounts withheld from your pay (plus other credits) by $100, or more. To make

estimated payments, file Form PH-1040ES, Declaration of Estimated Tax.

Estimated payments are not required if your withholding and other credits will exceed 70

percent of the tax shown due on your current or prior year tax return.

• Corporations - Generally, corporations must make estimated tax payments every year that their

total City tax will exceed $250. To make estimated payments, file Form PH-1040ES,

Declaration of Estimated Tax.

DUE DATES:

Estimated taxes are payable in four equal installments due on April 30, June 30, September 30,

and January 31. You may also pay in full with the first voucher, due April 30. Fiscal year

taxpayers should adjust all dates to correspond with their taxable year. Payments are due on the

last day of the fourth, sixth, ninth and thirteenth month after the start of your fiscal year.

You may amend your estimate when you make any quarterly payment. If you fail to make

estimated payments as required, you will be assessed penalty and interest charges.

Making estimated tax payments does not excuse a taxpayer from filing an annual return. You

must file a return even if there is no change in the declared tax liability or additional amount due.

ASSISTANCE:

If you have questions or need help, call the Income Tax Division at (810) 984-9741. You can

also visit our office in room 112 of the Municipal Office Center, 100 McMorran Boulevard, Port

Huron, Michigan 48060.

ESTIMATING YOUR TAXES

To estimate your taxable income, use last year's city of Port Huron form for reference (even if

you have not completed the return). Lines one through eight of the return describe the types of

income subject to city tax. See the specific instructions for residents or nonresidents to figure out

the taxable amounts. Also read the instructions titled Income Exempt From City Tax and

Deductions From Income. To figure out the number of exemptions you may claim, see the

Exemptions section of the return and the instructions.

1. Estimated income subject to tax (see above)

1. _______________

2. Exemption allowance (see above) number ______ X $1,200.00

2. _______________

3. Estimated taxable income - subtract line 2 from line 1

3. _______________

4. Estimated tax

4. _______________

- multiply line 3 by 1% if a resident or by ½ of 1% if a nonresident

Instructions For Form Ph-1040es - Estimated Tax Payments