Form Underpayment of Estimated Tax by Corporations U File with Wisconsin Form 4, 4T, 5S, or 6 Wisconsin Department Corporation or Designated Agent Name Federal Employer ID Number 2024 of Revenue Part I Computation of Underpayment and Interest Due on Underpayment 1 a Enter 2024 net tax plus the economic development surcharge ......................... b Enter 2024 refundable credits (excluding estimated tax and surcharge paid) ............ c Subtract line 1b from line 1a ............................................................... d Wisconsin tax withheld for 2024 ............................................................ e Subtract line 1d from line 1c. If less than $500, enter $0 and go to Part II if applicable .................. 2 Enter 90% of line 1c. Do not complete if line 1e is $0 .............................................. 3 a Enter 2023 net tax plus the economic development surcharge, if applicable ............... b Enter 2023 refundable credits (excluding estimated tax and surcharge paid) ........... c Subtract line 3b from line 3a ............................................................... 4 If 2024 net income is less than $250,000 and 2023 return covered 12 months, enter smaller of line 2 or 3c; otherwise, enter line 2. See instructions for tax-option (S) corporation making the entity-level tax election ........ (a) (b) (c) (d) 5Enter installment due dates (see instructions) ............ 6If the tax year is 12 months, divide line 4 by 4 and enter the result in each column. If the tax year is less than 12 months, see the instructions. If the annualized income method is used, first fill in Part III and enter the amounts from line 47 . . 7Estimated tax, surcharge paid, and withholding ......... 8 If line 7 is less than line 6, subtract line 7 from line 6. This is your underpayment ......................... 9 If line 7 is more than line 6, subtract line 6 from line 7. This is your overpayment .......................... 10Carryback of overpayment or late payment ............ 11Carryforward of overpayment ....................... 12Subtract the total of lines 10 and 11 from line 8. This is your net underpayment ........................... 13Number of days from the due date of the installment to the date carryback on line 10 was paid ............... 14Number of days from the due date of the installment to the date balance due on return was paid or unextended due date of return, whichever is earlier ............... 15Interest: 12% per year on amount on line 10 for the number of days on line 13 ......................... 16Interest: 12% per year on amount on line 12 for the number of days on line 14 ......................... 17 Add all of the amounts on lines 15 and 16 and enter the total. If your return is filed after the unextended due date and shows a tax due, enter the total on Part II, line 22. Otherwise, enter the total on the line provided on your tax return. DC-033 (R. 8-24) |
2024 Form U Page 2 of 2 Part II Computation of Total Amount Due Complete this part only if your return is not filed by the unextended due date and shows (a) Interest at (b) Interest at (c) Total a tax due. 18% per year 12% per year 18 If return filed late without an extension, enter net tax (including surcharge) . 19 If return filed with extended due date and shows – (90%) (10%) a Net tax (including surcharge) of $500 or more, enter portion of net tax indicated ............................................. b Net tax (including surcharge) of less than $500, enter net tax ......... 20 Enter payments made (apply first to 18% per year column) ............. 21Subtract line 20 from line 18 or 19a or 19b. This is amount due 15th day of 3rd or 4th month after end of taxable year ........................... 22 Interest on underpayment from Part I, line 17 ........................ 23Add lines 21 and 22 ............................................ (18% per year) (12% per year) * 24 Interest on amounts on line 23 to (date return filed) ... 25 If your return is filed late without an extension or after the extended due date – a Enter penalty of 5% of net tax due on your return for each month or fraction thereof that your return is late, but not more than 25% .................................................................... b Enter a $150 late fee ..................................................................... 26Add lines 22, 24, 25a, and 25b. Enter the total on the line provided on your return and increase the “Amount Due” * Note: See the instructions for line 24. Part III Annualized Income Installment Method Worksheet Fill in this worksheet only if computing required installments using the annualized Annualization Period income installment method. Complete one column through line 47 before completing the next column. See the instructions to determine the number of months to enter in each column. Form 4T filers see instructions to figure lines 27 and 29. (a) First __ months (b) First __ months (c) First __ months (d) First __ months 27Enter Wisconsin net income for each period(see instructions) 28Annualization factor (see instructions) ................ 29 Multiply line 27 by line 28 ........................ Adjustments30 (NBLs, etc. – see instructions) ........... 31Combine lines 29 and 30. This is annualized income ... 32 Multiply line 31 by 7.9% (0.079). This is annualized gross tax 33Enter your nonrefundable credits .................. 34Subtract line 33 from line 32. If zero or less, enter zero . 35Enter economic development surcharge (based on amount in this column) .......................... 36Add lines 34 and 35 ............................ 37Enter your refundable credits (excluding estimated tax and surcharge paid) ................................ 38 Subtract line 37 from line 36. If zero or less, enter zero. This is annualized net tax ........................ 39Applicable percentage (see instructions) .............. 40Multiply line 38 by line 39 ........................ 41 Enter the combined amounts of line 47 from all preceding columns ...................................... 42Subtract line 41 from line 40. If zero or less, enter zero . 43If the tax year is 12 months, divide line 4 by 4 and enter the result in each column. If the tax year is less than 12 months, see the instructions.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44Enter the amount from line 46 for the preceding column . 45Add lines 43 and 44 and enter the total .............. 46If line 45 is more than line 42, subtract line 42 from line 45. Otherwise, enter zero ........................... 47Enter the smaller of line 42 or 45 here and on Part 1, line 6 |