Montana Form 2ez Individual Income Tax Forms And Instructions

Page 3

Instructions for ﬁ ling Montana Form 2EZ

Line 17 – Late File Penalty, Late Payment Penalty

2011 Montana Individual Income Tax Table

and Interest

If Your

But Not

● Late File Penalty

Taxable

This Is

Multiply Your

And

Income Is

Your Tax

If you ﬁ le your tax return after April 17, 2012—or

Taxable

Than

Subtract

More Than

Income By

October 15, 2012 with a valid extension—you will need

to pay a late ﬁ le penalty if tax on line 15 is greater than

$2,700

1% (0.010)

your withholding reported on line 16. You do not have

$2,700

$4,700

2% (0.020)

$27

to pay a late ﬁ le penalty if you are ﬁ ling your tax return

$4,700

$7,200

3% (0.030)

$74

late and you have a refund.

$7,200

$9,700

4% (0.040)

$146

To calculate your late ﬁ le penalty, subtract line 16

$9,700

$12,500

5% (0.050)

$243

from line 15 and enter this amount or $50, whichever

$12,500

$16,000

6% (0.060)

$368

amount is less.

More Than $16,000

6.9% (0.069)

$512

● Late Payment Penalty

If you have not paid all of your income tax liability by

Worksheet

April 17, 2012, you will need to pay a late payment

Taxable income from Form 2EZ, line 14 ........... 1

penalty. Your late payment penalty is equal to 1.2%

Applicable tax rate from column A .................... 2

per month or part of a calendar month on the unpaid

Multiply amount on line 1 by rate on line 2 ....... 3

amount from April 17, 2012 until it is paid. For example,

if you do not pay your tax due until May 10, 2012, your

Amount from column B to be subtracted .......... 4

late payment penalty will be 2.4% (two parts of a month

Tax Liability. Subtract the amount on line 4

x 1.2%) of the unpaid tax. Please remember that an

from the amount on line 3. Enter the result

here and on Form 2EZ, line 15 ......................... 5

extension to ﬁ le your tax return is not an extension to

pay your tax.

Please be sure to save

Electronic Filers:

To calculate your late payment penalty, subtract the

the tax information that you have entered.

amount on line 16 from line 15 and then multiply this

amount by 1.2% per month or part of a calendar month

Step 4. Tax, Payments and Refund

that your payment is late. Your late payment penalty

(Lines 16-21)

will never exceed 12% (10 months x 1.2%) of the

unpaid tax.

► Are you ready?

● Interest

● Get your Form(s) W-2 and/or 1099 if they show

If you have not paid 100% of your income tax liability

any tax withheld.

by April 17, 2012, you will have to pay 8% annual

interest, computed daily, on the amount you still owe.

► Did you...?

Remember, an extension of time to ﬁ le your return

● Check your return to ensure you have no

does not extend the due date for paying your income

mathematical errors.

tax. Interest accrues from the original due date of your

● Make sure that your refund or amount due is

return.

reported on the correct line.

To calculate your interest, subtract line 16 from

line 15 and then multiply this amount by 0.02192%

(0.0002192) times the number of days after April 17,

Line 16 – Total Payments

2012 that your tax is paid.

Enter the amount of the Montana income tax withheld from

If you owe more than one of the items listed for line 17,

your income. This amount is reported in Box 17 of your

enter each amount you owe on the following worksheet.

federal Form W-2, given to you by your employer. If you ﬁ ll

out this line, you have to include a copy of your Form W-2

Type

Amount

with this return. If you are ﬁ ling electronically, you do not

Late ﬁ le penalty

need to send us your Form W-2. You only need to keep a

Late payment penalty

copy in your records.

Interest

Montana mineral royalty tax withheld, or income tax

Total

withheld as a result of an ownership interest in a pass-

through entity, cannot be reported on line 16. If you had this

Enter the total on Form 2EZ, line 17. (You may wish to

type of tax withheld, you cannot ﬁ le Form 2EZ and should

keep this information as part of your records for future

instead ﬁ le Form 2.

reference.)

Montana Form 2ez Individual Income Tax Forms And Instructions - 2011 Page 6

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