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Screen NDEst - North Dakota Estimates (1120)
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Overpayment Application
Application of current year overpayment
These code options are the same as those in the federal Est screen. They dictate how the application applies any current year overpayment. The decision affects what is printed on Page 1 of the return and the calculation of next year’s estimated tax payments. Enter 1 of the over-payment options listed in the following table, or select from the dropdown list.
Code | Result |
|---|---|
1 | Refund 100 percent of the overpayment. This is the default option. |
2 | Apply 100 percent of overpayment to next year’s estimate; refund excess. This option applies the overpayment to each estimate in full until the overpayment is exhausted or all estimated payments are made, in which case the excess is refunded. |
3 | Apply to 1st estimate; refund excess. |
4 | Apply equally to each estimate; refund excess. This option applies one-fourth of the overpayment to each estimate and refunds any excess overpayment. |
5 | Apply the amount specified in the Overpayment to be applied (Code 5 or 8) field to the estimates until the amount is exhausted or all payments are made, in which case the excess is refunded. |
6 | Apply to 1st and 2nd estimate of next year; refund excess. |
7 | Apply 100 percent of overpayment to next year’s estimate; no refund. This option applies the entire overpayment to next year even if estimates aren't required or the overpayment is in excess of the payments required. No refund is made. |
8 | Apply amount specified in the Overpayment to be applied (Code 5 or 8) field to next year’s estimate. This option allows an overpayment to be specified even when estimates are not required or generated |
note
New clients and converted clients may benefit from North Dakota’s new client options. Select
Setup
, 1120 Corporation
, the North Dakota
tab, New Client Options
, and enter the code in the Overpayment application
field. The selection there transfers to the state input screen for newly created and converted clients and is used to calculate the overpayment application. The transferred code may be changed in this field if necessary and isn't overwritten by the selection in the New Client Options window.Estimates
Form 40-ES or Form 60-ES - declaration for next year
These codes are the same as those in the federal Est screen. They tell the application which method to use to determine the amount of the next year’s estimated tax. If
2
through 7
is entered in the Application of current year overpayment
field, the application defaults to option 1 in the Form 40-ES or Form 60-ES - declaration for next year
field. If both of these fields are blank, the application doesn't generate estimate vouchers or filing instruction information. Enter one of the options for the Form 40-ES or Form 60-ES - declaration for next year
field listed in the following table, or select one from the dropdown list.Code | Result |
|---|---|
1 | Use the current year income tax liability. This is the default if option 2 , 3 , 4 , 5 , 6 , or 7 is entered in the Application of current year overpayment field.note
If the current year’s tax is less than the minimum filing requirements, the vouchers don'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 to make estimated payments. |
4 | Print vouchers with amount fields blank. If this option is selected, the application prints estimate vouchers with the amount fields blank. |
5 | Use the amounts entered in the Amounts for next year’s estimates (Code 5 or 9) fields, before overpayment. If you select this option, the amounts entered in the Amounts for next year’s estimates (Code 5 or 9) fields are adjusted by any overpayment applied. |
8 | Use the projected tax liability. Estimates are prepared even if the projected tax liability is less than the minimum amount required to make estimated payments. |
9 | Use the amounts entered in the Amounts for next year’s estimates (Code 5 or 9) fields. If you select this option, the amounts entered in the Amounts for next year’s estimates (Code 5 or 9) fields aren't adjusted by any overpayment applied. |
note
New clients and converted clients may benefit from North Dakota’s new client options. Select
Setup
, 1120 Corporation
, the North Dakota
tab, the New Client Options
. Enter the code in the Next year’s estimate declaration
field. The selection there 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
5
is entered in the Form 40-ES or Form 60-ES - declaration for next year
field, enter the desired quarterly payments in these fields. These amounts are adjusted by the overpayment applied, if applicable, and print on the vouchers.If code
9
is entered in the Form 40-ES or Form 60-ES - 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
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 40-ES or Form 60-ES - 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
5
or 9
is entered in the Form 40-ES or Form 60-ES - 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 four
The number of estimate vouchers defaults to
4
. Enter a code to specify fewer than 4 vouchers. The options for the number of vouchers are listed in the fieldview and in the following table. The overpayment and amounts already paid toward next year’s estimates are applied to each voucher based on the overpayment code and the quarter in which the amounts were paid.Code | Result |
|---|---|
4 | 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 or 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
note
This field allows rounding specifications to be entered for the estimated payments. The estimated payments can be rounded up to the nearest factor indicated. For example, if it's desired to round up each estimated payment to the nearest $10, enter
10
. If this field is blank, the application rounds each estimated payment up to the next dollar. New clients and converted clients may benefit from North Dakota’s new client options. Select
Setup
, 1120 Corporation
, the North Dakota
tab, then New Client Options
. Enter the amount in the Round estimates by
field. The amount entered there 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 is not overwritten by the selection in the New Client Options window.