Instructions For Delaware Form 400-Es - Fiduciary Estimated Income Tax printable pdf download

DELAWARE

FIDUCIARY ESTIMATED INCOME TAX

FORM 400-ES

INSTRUCTIONS

WHO MUST MAKE A DECLARATION:

a substantial increase or decrease in Estimated

Tax, you should enter the adjusted amount in the space provided on each remaining

If the fair market value of the assets of a resident or non-resident trust, for any given

Form 400-ES and forward on required due dates.

taxable year, equals or exceeds $1 million, the trust is required to file estimated tax

declarations for the subsequent taxable year.

PAYMENT OF ESTIMATED TAX:

WHEN AND WHERE TO FILE DECLARATION:

Your Estimated Tax may be paid in full with the Declaration, or in equal installments

on or before April 30, June 15, September 15, and January 18 of the following year.

Your Declaration and payment of Estimated Tax shall be filed or paid on or before

The last installment must be mailed no later than January 18 of the following year.

April 30, or on such later dates as are specified in instructions below. It should be

Check or money order should be made payable to Delaware Division of Revenue.

filed with the Division of Revenue at P.O. Box 2044, Wilmington, Delaware 19899-

Please remove any stub from your check. Write your Employer Identification

2044.

Number and tax period you are reporting on the check or money order. DO NOT

STAPLE your payment to the return.

FISCAL YEAR:

PENALTY FOR FAILURE TO PAY ESTIMATED INCOME TAX:

If you file your income tax returns on a fiscal year basis, your dates for filing the

Declaration and payment of the Estimated Tax will be the 30th day of the fourth

The following penalty is imposed by law for underpayment of any installment of

month and the 15th day of the sixth and ninth months of your current fiscal year and

Estimated Tax: A penalty of 1½% per month, or fraction thereof, on the

the 15th day of the first month of the next fiscal year.

underpayment during the period of the underpayment except in certain situations.

The penalty does not apply if each installment is paid on time and (a) is at least 90%

CHANGES IN INCOME OR DEDUCTION(S):

of the amount due on the income tax return for the taxable year, or (b) is based on

a tax computed by using your taxable income for last year and this year’s tax rates.

Even though your situation on April 30 is such that you are not required to file

a Declaration at that time, your expected income or deduction(s) may change so that

MISPLACED OR DAMAGED FORMS:

you will be required to file a Declaration later. In such case, the time for filing is as

follows: June 15 if the change occurs after April 1 and before June 2; September 15

If you misplace or damage this booklet, please contact the Public Service Bureau at

if the change occurs after June 1 and before September 2; January 15 of the

(302) 577-8200 for a replacement. If you do not have a replacement booklet by the

following year if the change occurs after September 1. The estimated Tax may be

time an Estimated Tax payment is due, any taxes due must be filed on a timely basis.

paid in full at the time of filing the Declaration or in equal installments on the

Submit payment with all pertinent information (Federal Employer Identification, type

remaining payment dates.

of tax, tax period, and phone number).

After you have filed a Declaration, if changes in income or deduction(s) cause

TAX COMPUTATION SCHEDULE

1. ENTER AMOUNT OF TOTAL GROSS INCOME EXPECTED FOR THE YEAR................................................................

2. LESS: PENSION AND OVER 60 EXCLUSIONS, U.S. OBLIGATIONS INTEREST...........................................................

3. ESTIMATED TAXABLE INCOME (LINE 1 LESS LINE 2)............................................................................................

4. ESTIMATED TAX (USE TAX COMPUTATION TABLE BELOW TO MAKE THIS COMPUTATION)..................................

TAX COMPUTATION TABLE

IF ESTIMATED TAXABLE INCOME ON LINE 3 IS:

AT LEAST

BUT NOT OVER

YOUR ESTIMATED TAX IS:

2,000.

$0.

2,000.

5,000.

2.60% OF AMOUNT OVER $2,000.

5,000.

10,000.

$78.00 + 4.30% OF AMOUNT OVER $5,000.

10,000.

20,000

$293.00 + 5.20% OF AMOUNT OVER $10,000.

20,000.

25,000

$813.00 + 5.60% OF AMOUNT OVER $20,000.

25,000.

60,000.

$1,093.00 + 5.95% OF AMOUNT OVER $25,000.

60,000. AND OVER

$3,175.50 + 6.40% OF AMOUNT OVER $60,000.

(REVISED 11/98)

Instructions For Delaware Form 400-Es - Fiduciary Estimated Income Tax

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