1                                                                                                                                                                                                                                                      1
  2 4  6  8   10 12  14 16  18  20     22  24  26    28  30 32  34  36         38  40                                         42  44  46  48  50      52  54  56          58  60  62         64  66                             68  70 72  74  76   78  80 82  84  86
    3                                                                                                                  UPDATED FINAL DRAFT 11/27/23                                                                                                        3
    4                                                                                                                  Line 11 decimal updated to .000137                                                                                                  4
    5                                                                                                                  inst. line referenes updated pg. 1 for line 2.                                                                                      5
    6                                                                                                                                                                                                                                                      6
    7  2023 Form EST, Additional Charge for Underpayment of Estimated Tax                                                                                                                                                                                  7
    8  For Trusts (Form M2), Partnerships (Form M3) and S Corporations (Form M8)                                                                                                                                                                           8
    9                                                                                                                                                                                                                                                      9
    10 NAME OF TRUST PARTNERSHIPS CORPORATIONX                                                                                            12345678900000                                   123456789000000000                                              10
    11 Name of Trust, Partnership or S corporation                                                                                        FEIN                                               Minnesota Tax ID Number                                       11
    12 Required Annual Payment                                                                                                                                                                                                                             12
    13   1  Minnesota tax for 2023 (from line  25 of Form M2; line 13 of Form M3; or line 14 of Form M8)    . .  . . . . .  . . . . . . .  . . .  1                                                                                        12345678        13
    14                                                                                                                                                                                                                                                     14
    15   2  Minnesota withholding and credits for 2023 (see instructions)                                                      . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . .  2          12345678        15
    16                                                                                                                                                                                                                                                     16
    17   3  Subtract line 2 from line 1 (if result is less than $500, stop here; you do not owe an additional charge)  . . .  . . . . . .  . . .  3                                                                                        12345678        17
    18                                                                                                                                                                                                                                                     18
    19   4  Multiply line 1 by 90% (0.90)  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  .  4                                 12345678        19
    20                                                                                                                                                                                                                                                     20
    21   5  Minnesota income tax for 2022 (from line 22 of Form M2, line 10 of Form M3 or line 11 of Form M8) .                                                                                                                                            21
    22      If you did not file a 2022 return or filed a 2022 return for less than a full 12-month period, skip line 5                                                                                                                                     22
    23      and enter the amount from line 4 on line 6  .  . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . .  5                                              12345678        23
    24                                                                                                                                                                                                                                                     24
    25   6  Required annual payment. Enter amount from line 4 or line 5, whichever is less                                                        . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . .  6                        12345678        25
    26      •  If line 6 is less than or equal to line 2, stop here; you do not owe an additional charge.                                                                                                                                                  26
    27      •  If line 6 is more than line 2, continue with line 7 or line 13, depending on which method you use.                                                                                                                                          27
    28                                                                                                                                                                                                                                                     28
    29 Optional Short Method (see instructions to determine which method to use)                                                                                                                                                                           29
    30   7  Estimated tax payments you made for 2023   . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . .  7                                                  12345678        30
    31                                                                                                                                                                                                                                                     31
    32   8  Add line 2 and line 7  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . .  . . .  8                          12345678        32
    33   9  Total underpayment for the year. Subtract line 8 from line 6                                                                                                                                                                                   33
    34      (if result is zero or less, stop here; you do not owe an additional charge)  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . . .  9                                                                  12345678        34
    35                                                                                                                                                                                                                                                     35
    36  10  Multiply line 9 by 2% (0.02)     . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  .  10                              12345678 36
    37  11  •  If the amount on line 9 will be paid on or after the regular due date for filing your return, enter 0.                                                                                                                                      37
    38      •  If the amount was paid before the regular due date, use the following computation and                                                                                                                                                       38
    39        enter the result on line 11:  amount on line 9     number of days paid before the regular due date X                       X   .000137  . . .  . . . . . .  . . . . .  . . . . . . .  . . .11.                               1234567839
    40  12  Additional Charge. Subtract line 11 from line 10.                                                                                                                                                                                              40
    41      Enter result here and on line 35 of Form M2, line 20 of Form M3 or line 23 of Form M8                                                          . . .  . . . . . .  . . . . .  . . . . . .  . .  12                             12345678 41
    42                                                                                                                                         A                       B                              C                                           D        42
    43 Regular Method                                                                                                                    April 18, 2023        June 15, 2023                 Sept. 15, 2023                                Jan. 16, 2024   43
    44  13  Enter 25% (0.25) of line 6 in each column  . . .  . . . . . .  . . . . .  . . . . . .  .  13                              12345678 12345678 12345678                                                                           12345678        44
    45                                                                                                                                                                                                                                                     45
    46  14  Credits. See instructions   . . .  . . . . . .  . . . . .  . . . . . .  . . . . . .  . . . . .  . . .  .  14              12345678 12345678 12345678                                                                           12345678 46
    47  15  Overpayment. If line 14 is more than line 13, subtract line 13                                                                                                                                                                                 47
    48      from line 14. Enter the result here and add it                                                                                                                                                                                                 48
    49      to line 14 in the next column   . . . . .  . . . . . .  . . . . .  . . . . .  . . . . . .  . . .  .  15                   12345678 12345678 12345678                                                                           12345678        49
    50  16  Underpayment. If line 14 is less than line 13,                                                                                                                                                                                                 50
    51      subtract line 14 from line 13..  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . .  .  16                  12345678 12345678 12345678                                                                           12345678        51
    52  17  Enter the date of payment or the regular due date for                                                                                                                                                                                          52
    53      filing your return, whichever is earlier (see instructions)      . . .  . . . . . .  .  17                                12345678 12345678 12345678                                                                           12345678 53
    54  18  Number of days between the payment due date                                                                                                                                                                                                    54
    55      and the date on line 17  . . .  . . . . . .  . . . . .  . . . . . . .  . . . . .  . . . . . .  . . .  .  18               12345678 12345678 12345678                                                                           12345678        55
    56                                                                                                                                                                                                                                                     56
    57  19  Divide line 18 by 365. The result is a decimal   . . .  . . . . . .  . . . . .  . . . 19.                                     1.   23456             1.    23456                   1.     23456                                1.  23456       57
    58                                                                                                                                                                                                                                                     58
    59  20  Multiply line 19 by 5% (0.05). Enter as a decimal     . . .  . . . . . .  . . . . . 20.                                        . 1 23456             1. 23456                      1.     23456                                1.  23456       59
    60                                                                                                                                                                                                                                                     60
    61  21  Multiply line 20 by line 16    . .  . . . . . .  . . . . . .  . . . . . .  . . . . .  . . . . . .  .  .  21               12345678 12345678 12345678                                                                           12345678        61
    62  22  Additional Charge. Add line 21, columns A-D.                                                                                                                                                                                                   62
    63      Enter result here and on line 35 of Form M2, line 20 of Form M3 or line 23 of Form M8   . . .  . . . . . . .  . . . . .  . . . . .  . .  22                                                                                    12345678        63
  2 4  6You must include this schedule with your Form M2, M3 or M8.8 10 12  14 16  18  20 22  24  26 28  30 32  34  36 38  40 42  44  46  48  50      52  54  56          58  60  62         64  66                             68  70 72  74  76   78  80 8264   84  86
    65                                                                                                                        9995

                                                                                      UPDATED FINAL DRAFT 11/27/23
                                                                                      Line 11 decimal updated to .000137
                                                                                      inst. line referenes updated pg. 1 for line 2.

2023 Worksheet ESTa, Annualized Income Installment
For Trusts (Form M2), Partnerships (Form M3) and S Corporations (Form M8)

Name of Trust, Partnership or S corporation                                                              FEIN                       Minnesota Tax ID Number
                                                                                               A              B                     C                      D
                                                                                               1/1/2023 –     1/1/2023 –            1/1/2023 – 1/1/2023 –
                                                                                               3/31/2023      5/31/2023             8/31/2023  12/31/2023
 
 Step 1   Enter your adjusted gross income for each period.  
          (see instructions) (Trust, enter your taxable income  
          without your exemption for each period.)   . . . . . .  . . 1.   
  Step 2  Annualization Amounts 
          (Trusts, see instructions)  . . . .  . . . . . .  . . . . . .  . . . . . .  .  .   2             4             2.4        1.5                    1
  Step 3  Multiply step 1 by step 2   . . . . .  . . . . . .  . . . . .  . . . . . . 3.   
  Step 4  Minnesota Additions   . . .  . . . . . .  . . . . .  . . . . . . .  . . . .  . 4 
  Step 5  Add step 4 and step 3  . .  . . . . . .  . . . . . .  . . . . .  . . . . . . 5 .   
Step 6    Minnesota Subtractions    . . .  . . . . . .  . . . . .  . . . . . .  .6.  .   
Step 7    Subtract step 6 from step 5   . . .  . . . . . .  . . . . .  . . . . . .  . 7 
  Step 8  Figure tax for amount shown in step 7.   
          Deduct appropriate nonrefundable credits . . .  . . . . . 8.   
  Step 9  Percentage for each period . . .  . . . . . .  . . . . .  . . . . . .  .  .   9        22.50%                 45%         67.50%                 90%
  Step 10 Multiply step 8 by step 9   . . . . .  . . . . . .  . . . . .  . . . . .  . 10 

Complete steps 11-17, one column at time before  
moving to next column.

Step 11   Add the amounts from step 17 from all  
          preceding payment periods  .  . . . . . .  . . . . .  . . . . . .  .  . 11 
Step 12   Subtract step 11 from step 10  
          (if result is zero or less, enter 0)  . . .  . . . . . .  . . . . .  . .  . 12 
Step 13   Enter 25% (0.25) of line 6 of  
          Schedule EST in each column  . .  . . . . .  . . . . . .  . . . . .  . 13 
Step 14   Enter step 16 of the preceding column  . . . .  . . . . .  .  . 14 
Step 15   Add step 13 and step 14  .  . . . . .  . . . . . .  . . . . .  . . . . .  . 15 
Step 16   Subtract step 12 from step 15  
          (if result is zero or less, enter 0)  . . .  . . . . . .  . . . . .  . .  . 16 
Step 17     Amount from step 12 or step 15,  
          whichever is less. Also enter this  
          amount on line 13 of Schedule EST   . . . . . .  . . . . .  . .  . 17 

Worksheet Instructions
Step 1                                                       Step 4                                                      Step 8 
Calculate your total income for each period                  Determine your Minnesota Additions for                      Minnesota tax rate for composite tax and 
(column). Calculate your total income                        each quarter. Enter the amounts in step 4.                  nonresident withholding tax is 9.85%. Take 
minus your adjustments to income.                                                                                        the amount from step 7 and multiply it by 
                                                             Step 6
                                                                                                                         9.85%. Add any minimum fee amount and/
Step 2                                                       Determine your Minnesota Subtractions for 
                                                                                                                         or any other S corporation taxes and enter 
Trusts do not use the amounts shown                          each quarter. Enter the amounts in step 6.
                                                                                                                         the result in the line for step 8.
in columns (a) – (d). Use the following 
amounts instead:  6, 3, 1.71429, and 
1.09091, respectively as the annualization 
amounts.                                                                                       9995

                                                               UPDATED FINAL DRAFT 11/27/23
                                                               Line 11 decimal updated to .000137
2023 Schedule EST Instructions
                                                               inst. line referenes updated pg. 1 for line 2.
Additional Charge for Underpayment of Estimated Tax for Trusts (Form M2), Partnerships (Form M3) and S Corporations 
(Form M8)

This schedule is not required if you are filing your first Minnesota tax return.

Who Must File
If you are a trust, partnership or S corporation, use this schedule to determine if you owe an additional charge for underpaying estimated tax. 
(Decedent estates are not subject to the additional charge.) 
You may owe an additional charge if one of the following is true:
•  you did not pay the correct amount of estimated tax by the due dates, even if you expect to receive a refund
•  your Minnesota tax liability for the current year, less any credits, is $500 or more
Exception. You are not subject to an additional charge for underpayment of estimated tax if this is the first year you are filing a Minnesota tax 
return.

Avoiding the Additional Charge
To avoid an additional charge for underpayment of estimated tax, you must make the required estimated tax payments on time and pay the 
lesser of:
•  90% of your current year’s original tax liability, less any credits
•  100% of your prior year’s total tax liability, less any credit. However, if your Minnesota assignable gross income on your 2022 Form M2 is 
more than $150,000, you must use 110% of your previous year’s tax liability instead of 100%
Fiscal Year Taxpayers 
If you file your Minnesota return on a fiscal year basis, change the payment due dates to the 15th day of the fourth, sixth and ninth months of 
your fiscal year, and the first month of your next fiscal year.

Short Taxable Year
If you have a short taxable year, the installments are due on the 15th day of the third, sixth, ninth and final months. No installment is required 
for a short taxable year of fewer than four months.

Line Instructions
These instructions refer to your original return. However, an amended return is considered the original return if it is filed by the regular due 
date of the original return.
Line 2 — 2023 Withholding and Credits
Trusts: Add lines 24, 26, and 27 of your 2023 Form M2.
Partnerships: Enter the amount from line 14 of your 2023 Form M3.
S corporations: Enter the amount from line 17 of your 2023 Form M8.

Optional Short Method or Regular Method
You may use the optional short method only if one of the following is true:
•  you did not make any estimated tax payments
•  you paid your 2023 estimated tax in four equal amounts on or before the due date of each installment
Note: If any payment was made before the installment due date, it is best to use the regular method. Using the short method will cause you to 
pay a larger additional charge than the regular method. If the payment was only a few days early, the difference is likely to be small.
Continue with line 7 to use the optional short method, and skip lines 13-22.
If you are not eligible or you choose not to use the optional short method, use the regular method to determine your additional charge. Skip 
lines 7–12 and continue with line 13.

Optional Short Method
Line 7
Enter the total amount of 2023 estimated tax payments you made in 2023 and 2024. Do not include any other amounts on line 7.

Regular Method
Complete column A, lines 13–16. Then, depending on whether you have an underpayment or an overpayment, either continue with line 17 of 
column A (underpayment) or line 13 of column B (overpayment).
Line 13
Enter 25% (0.25) of line 6 in each of the four columns on line 13.
You may benefit from using the annualized income installment method if your income varied throughout the year or if you had a late capital 
gain or higher 4th quarter income. If you use this method for one payment due date, you must use it for all. Complete the worksheet on  
Form ESTa.                                                                                                     Continued                         1

                                                         UPDATED FINAL DRAFT 11/27/23
                                                         Line 11 decimal updated to .000137
2023 Schedule EST Instructions (Continued)
                                                         inst. line referenes updated pg. 1 for line 2.

Line 14
For each payment period, enter the total amount of:
•  estimated payments you paid for each payment period
•  Minnesota income tax withheld in 2023
•  your 2022 income tax refund, if you elected on your 2022 Minnesota return to apply all or a portion of your refund to your 2023 estimated 
tax
•  any refundable credits you claim for 2023
You are considered to have received any refundable credits evenly during the year unless you show otherwise. Your 2022 refund, if any, is 
considered a credit to your first payment period.

Lines 15 and 16
Compare line 13 of each column to line 14 of the same column. 
If line 14 is more than line 13, you have an overpayment for the payment period. Subtract line 13 from line 14 and enter the result on line 15. 
Add line 15 to the credit on line 14 of the next column. Overpayments in any quarter following an underpayment must first be applied to 
making up previous underpayments.
If line 14 is less than line 13, you have an underpayment for that payment period. Subtract line 14 from line 13 and enter the result on line 16. 
Continue with line 17.
Line 17
If you have an underpayment in all four quarters, in each column enter the date you filed your return or the regular due date for filing your 
return, whichever is earlier. 
Otherwise, enter the date when the underpayment on line 16 was paid in full.   
Example: You made your first quarter estimated tax payment on April 20, but you show an underpayment on line 16. On June 14, you paid 
your second quarter payment in full and included the underpayment from the first quarter. On line 17, you would enter June 14 in the first and 
second quarter columns.

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