Form 140 Es - Individual Estimated Tax Payment

Worksheet for Computing Estimated Payments for Individuals

(For use with Arizona Form 140ES)

Step 1

Estimated

1 Use the estimated tax worksheet attached to IRS Form 1040ES and enter here the amount shown as income on

Arizona

your federal worksheet .....................................................................................................................................................

Taxable

Income

Below are common items of income that are not taxable under the Internal Revenue Code but are taxable under

Arizona Revised Statutes. Estimate amounts and enter in the spaces provided:

Step 2

2 Non-Arizona municipal interest

Additions

3 Early withdrawal of Arizona State Retirement System contributions ................................

4 Ordinary income portion of lump-sum distributions (excluded on your federal

return) ................................................................................................................................

5 Other additions to income .................................................................................................

6 Total additions to income. Add lines 2 through 5 .............................................................................................................

7 Add line 1 and line 6 .......................................................................................................................................................

Below are common items not subject to tax in Arizona but taxable under the Internal Revenue Code. Estimate

amounts and enter in the spaces provided:

Step 3

8 Amounts received as annuities from certain federal, Arizona state or local government

Subtractions

retirement and disability funds (up to $2,500) that are subject to federal tax ....................

9 Interest income on obligations of the United States (e.g. U.S. savings bonds,

treasury bills, etc.) .............................................................................................................

10 Arizona state lottery winnings (up to $5,000) included as income on federal return .........

11 U.S. social security benefits or Railroad Retirement Act benefits included as income

on federal return ................................................................................................................

12 Other exempt income ........................................................................................................

13 Total subtractions. Add lines 8 through 12 ......................................................................................................................

14 Subtract line 13 from line 7 ..............................................................................................................................................

Step 4

15 If you plan to itemize deductions, enter the estimated total of your deductions.

Deductions

If you do not plan to itemize deductions, see the instructions for the allowable

and

2000 standard deduction in your booklet ..........................................................................

Exemptions

16 Exemptions. Enter your allowable 2000 exemption amounts ...........................................

17 Total deductions and exemptions. Add line 15 and line 16 .............................................................................................

18 Subtract line 17 from line 14 ............................................................................................................................................

19 Use the amount on line 18 to calculate your Arizona estimated tax liability. Use Tax Rate Table X or Y.

Step 5

Enter your estimated tax liability here ..............................................................................................................................

Estimated

20 Enter 90 percent (.90) of line 19 .......................................................................................

Arizona

21 Enter preceding year's Arizona tax liability if you were required to file and

Income Tax

did file a return for the preceding year, otherwise skip this line ........................................

22 If you entered an amount on line 21, enter the lesser of line 20 or line 21. Otherwise enter

the amount from line 20 ...................................................................................................................................................

23 Total Arizona income tax expected to be withheld (include all employment and pensions) ............................................

24 Subtract line 23 from line 22. Base estimated payments on this amount ........................................................................

25 If the first payment you are required to make is due April 16, 2001, enter 1/4 of line 24 (minus any

2000 overpayment that you are applying to this installment) here and on your 140ES ...................................................

NOTE: Be sure to review your estimated income figure to adjust your payments as necessary during the year. Payments for

calendar year filers are due April 16, 2001; June 15, 2001; September 17, 2001; and January 15, 2002.

ADOR 06-0016 (00)

Form 140 Es - Individual Estimated Tax Payment - 2001 Page 2

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