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Arizona Estimated Tax Worksheet for Corporations
Form 120W is obsolete, and is no longer supported by the Arizona Department of Revenue.
Extracted from PDF file 2023-arizona-form-120w.pdf, last modified October 2009Estimated Tax Worksheet for Corporations
Estimated Tax Worksheet for Corporations Arizona Form 120W 2022 (Taxpayers Filing Forms 99T, 120, 120A, and 120S) 1 Arizona tax liability: See instructions before completing this line............................................................................................................. 2 Required annual payment: a Enter 90% of line 1...................................................................................................................... b Forms 99T, 120, and 120A: Enter the tax as shown on the 2020 return. See instructions............................. c Form 120S: See instructions............................................................................................................ 2a 00 2b 00 2c 00 d Forms 99T, 120, and 120A: Enter the smaller of line 2a or line 2b. Form 120S: Enter the smaller of line 2a or line 2c...................................... (a) 3 Installment due dates: See instructions............................. 3 1 00 2d 00 Required Installments – Due Dates and Amounts MM D D Y Y (b) (c) (d) MM D D Y Y MM D D Y Y MM D D Y Y 4 Required installments: Enter 25% of line 2d in columns (a) through (d) unless the taxpayer uses the annualized income installment method, the adjusted seasonal installment method or is a “large corporation”. See instructions............................................................ SCHEDULE A Part 1 4 Required Installments Using the Annualized Income or Adjusted Seasonal Installment Methods Under IRC § 6655(e) Annualized Income Installment Method 5 Annualization periods: See instructions................................... 5 6 Enter taxable income for each annualization period............... 6 7 Annualization amounts: See instructions................................. 7 8 Annualized taxable income: Multiply line 6 by line 7. Enter result... 8 First (a) Months First (b) Months First (c) Months First (d) Months 9 Multiply the amount in each column on line 8 by 4.9%: Enter the result. ........................................................................ 9 10 Enter tax from recapture of tax credits for each payment period: See instructions......................................................... 10 11 Subtotal tax: Add lines 9 and 10. Enter the total......................... 11 12 For each period, enter the amount of nonrefundable tax credits: See instructions........................................................ 13 Arizona tax liability: Subtract line 12 from line 11. 12 Enter the difference. If zero or less, enter “0”............................................ 13 14 Refundable tax credits: See instructions................................. 14 15 Claim of right adjustment: See instructions............................. 15 16 Net liability: Subtract the sum of line 14 and line 15 from line 13. Enter the difference. If zero or less, enter “0”............................... 16 17 Applicable percentage......................................................... 17 18 Multiply line 16 by line 17. Enter the result.............................. 18 22.5% 45% 67.5% 90% 19 Add the amounts in all preceding columns from page 2, Part 3, line 52: See instructions............................................. 20 Annualized income installments: line 18. Enter the difference. If zero or less, enter “0”...................... Part 2 19 Subtract line 19 from 20 Adjusted Seasonal Installment Method CAUTION: Use this method only if the base period percentage of any 6 consecutive months is at least 70%. See the instructions for more information. (a) First 3 Months 21 Enter taxable income for the following periods: a Taxable year beginning in 2019........................................ 21a b Taxable year beginning in 2020........................................ 21b c Taxable year beginning in 2021........................................ 21c (b) First 5 Months (c) First 8 Months (d) First 11 Months 22 Enter taxable income for each period for taxable year beginning in 2022............................................................... 22 Continued on page 2 ADOR 10551 (21) 23 Enter taxable income for the following periods: a Taxable year beginning in 2019........................................ 23a b Taxable year beginning in 2020........................................ 23b c Taxable year beginning in 2021........................................ 23c (a) First 4 Months (b) First 6 Months (c) First 9 Months (d) Entire Year (a) First Installment (b) Second Installment (c) Third Installment (d) Fourth Installment 24 Divide the amount in each column on line 21a by the amount in column (d) on line 23a. Enter the result............................... 24 25 Divide the amount in each column on line 21b by the amount in column (d) on line 23b. Enter the result............................... 25 26 Divide the amount in each column on line 21c by the amount in column (d) on line 23c. Enter the result............................... 26 27 Add lines 24 through 26. Enter the total.................................. 27 28 Divide line 27 by three (3). Enter the result............................. 28 29 Divide line 22 by line 28. Enter the result................................ 30 Multiply the amount in each column on line 29 by 4.9%: 29 Enter the result. ................................................................... 31 Divide the amount in each column on line 23a by the amount 30 in column (d) on line 23a. Enter the result............................... 32 Divide the amount in each column on line 23b by the amount 31 in column (d) on line 23b. Enter the result............................... 32 33 Divide the amount in each column on line 23c by the amount in column (d) on line 23c. Enter the result............................... 34 Add columns (a) through (c) of lines 31 through 33. 33 Enter the total....................................................................... 34 35 Divide columns (a) through (c) of line 34 by three (3). Enter the result..................................................................... 35 36 Multiply the amount in columns (a) through (c) of line 30 by the amount in the corresponding column of line 35. Enter the result. In column (d), enter the amount from line 30, column (d)..... 36 37 Enter tax from recapture of tax credits for each payment period: See instructions......................................................... 37 38 Subtotal tax: Add lines 36 and 37. Enter the total........................ 38 39 For each period, enter the amount of nonrefundable tax credits: See instructions........................................................ 40 Arizona tax liability: 39 Subtract line 39 from line 38. Enter the difference. If zero or less, enter “0”............................................. 40 41 Refundable tax credits: See instructions................................. 41 42 Claim of right adjustment: See instructions............................. 42 43 Net liability: Subtract the sum of line 41 and line 42 from line 40. Enter the difference. If zero or less, enter “0”................................ 43 44 Multiply line 43 by 90%. Enter the result................................. 44 45 Add the amounts in all preceding columns from Part 3, line 52: See instructions........................................................ 45 46 Adjusted seasonal installments: Subtract line 45 from line 44. Enter the difference. If zero or less, enter “0”........................... Part 3 Required Installments 46 47 If only one of the above parts is completed, enter the amount in each column from line 20 or line 46. (If both parts are completed, enter the lesser of the amounts in each column from line 20 or line 46.)...................................................... 48 Enter 25% of line 2d in each column. 47 NOTE: “Large corporations”, see instructions for line 4 to determine the amount to enter............................................ 48 49 Enter the amount from line 51 of this schedule for the preceding column............................................................... 49 50 Add lines 48 and 49. Enter the total....................................... 50 51 If line 50 is more than line 47, subtract line 47 from line 50. Otherwise, enter “0”........................................................... 51 52 Required Installments: Enter the lesser of line 47 or line 50 here and on page 1, line 4........................................................ ADOR 10551 (21) 52 AZ Form 120W (2021) Page 2 of 2 Print
Arizona Form 120W
More about the Arizona Form 120W Corporate Income Tax Estimated TY 2023
We last updated the Estimated Tax Worksheet for Corporations in March 2023, so this is the latest version of Form 120W, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 120W directly from TaxFormFinder. You can print other Arizona tax forms here.
Other Arizona Corporate Income Tax Forms:
TaxFormFinder has an additional 95 Arizona income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Schedule ACA | Schedule ACA - Air Carrier Apportionment |
| Form 120S | Arizona S Corporation Income Tax Return |
| Form 165 | Arizona Partnership Income Tax Return |
| Form 141AZ | Arizona Fiduciary Income Tax Return |
| 165 Schedule K-1 | Schedule K-1 Resident Partner's Share of Adjustment to Partnership Income |
View all 96 Arizona Income Tax Forms
Form Sources:
Arizona usually releases forms for the current tax year between January and April. We last updated Arizona Form 120W from the Department of Revenue in March 2023.
Form 120W is an Arizona Corporate Income Tax form. While most taxpayers have income taxes automatically withheld every pay period by their employer, taxpayers who earn money that is not subject to withholding (such as self employed income, investment returns, etc) are often required to make estimated tax payments on a quarterly basis. Failure to make correct estimated payments can result in interest or penalties.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Arizona Form 120W
We have a total of ten past-year versions of Form 120W in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2011 Form 120W
Arizona Form 120W
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