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Screen MEWHEst - Maine Withholding Estimates (1120)

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Estimates

Form 901ES-ME - declaration for next year
These codes determine which method to use to determine the amount of next year’s estimated tax. Enter 1 of the options listed in the following table or select one from the dropdown list.
Code
Result
1
Use the current year income tax liability.
note
If the current year’s tax is less than the minimum filing requirements for any withholding nonresident shareholder, those shareholders won't be included in the next year estimate calculations. If the current year’s tax is less than the minimum filing requirements for all withholding nonresident shareholders, the vouchers won't print.
2
Use the current year income tax liability plus the adjustment in the
Amount to adjust current year liability (Code 2)
 field. If this option is selected, also enter an adjustment to the current-year tax liability in the
Amount to adjust current year liability (Code 2)
 field. If the adjustment represents a decrease, enter a negative amount.
3
Use the current-year income tax liability even if the total liability falls below the minimum amount required for estimate payments.
4
Print vouchers with amount fields blank. If this option is selected, estimate vouchers print with the amount fields blank.
9
Use the amounts entered in the
Amounts for next year’s estimates (Code 5 or 9)
 fields.
note
New clients and converted clients may benefit from Maine’s new client options. Select
Setup
,
1120 Corporation
, the
Maine
 tab,
New Client Options
, and enter the code in the
Next year’s estimate declaration
 field. The selection in this field transfers to the state input screen for newly created and converted clients and is used to calculate next year’s estimates. The transferred code may be changed in this field if necessary and isn't overwritten by the selection in the New Client Options window.
Amounts for next year’s estimates (Code 5 or 9)
Use these fields to specify the estimate amounts for each quarter. These amounts will not be adjusted by the amounts entered in the
Next year estimates already paid
 fields.
If code
9
 is entered in the
Form 901ES-ME - declaration for next year
 field, enter the desired quarterly payments in these fields. These amounts won't be adjusted by the overpayment applied.
Next year estimates already paid: 1st payment / … / 4th payment
Use these fields to enter any estimate payments already made toward the next year.
If code
1
,
2
, or
3
 is entered in the
Form 901ES-ME - declaration for next year
 field, these amounts and the overpayment applied are subtracted from the calculated quarterly gross estimated tax liability to determine the net estimate amounts.
If code
9
 is entered in the
Form 901ES-ME - declaration for next year
 field, these amounts don't adjust the amounts entered in the
Amounts for next year’s estimates (Code 5 or 9)
 fields.
Number of estimates desired, if other than 4
The number of estimate vouchers defaults to
4
. Enter a code to specify fewer than 4 vouchers. The overpayment and amounts already paid toward next year’s estimates apply to each voucher based on the overpayment code and the quarter in which the amounts are paid. The options for the number of vouchers are listed in the dropdown list and in the following table.
Code
Result
4
All 4 vouchers are generated. This is the default option.
3
The last 3 vouchers are generated. Any unpaid balance from the 1st estimate is included in the 2nd estimate voucher.
2
The last 2 vouchers are generated. Any unpaid balance from the 1st and 2nd estimate is included in the 3rd estimate voucher.
1
100 percent of the gross estimated tax liability is allocated to the 4th voucher.
A
100 percent of the gross estimated tax liability is allocated to the 1st voucher.
B
100 percent of the gross estimated tax liability is allocated to the 2nd voucher.
C
100 percent of the gross estimated tax liability is allocated to the 3rd voucher.
Amount to round up each estimate
This field allows the entering of rounding specifications for the estimated payments. The estimated payments can be rounded to any whole dollar amount up to the nearest factor indicated. For example, to round up each estimated payment to the nearest $10, enter
10
. If this field is blank, each estimate payment is rounded up to the nearest dollar.
note
New clients and converted clients may benefit from Maine’s new client options. Select
Setup
,
1120 Corporation
, the
Maine
 tab,
New Client Options
, and enter the amount in the
Round estimates by
 field. The amount entered in this field transfers to the state input screen for newly created and converted clients and is used to round up the estimated payments to the nearest factor. The transferred amount may be changed in this field if necessary and isn't overwritten by the selection in the New Client Options window.

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