Michigan Estimated Income Tax for Fiduciary and Composite Filers

Estimated Income Tax for Fiduciary and Composite Filers
2024, MI-1041ES Michigan Estimated Income Tax for Fiduciary and Composite Filers
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Michigan Department of Treasury (Rev. 05-23)

2024 MI-1041ES, Michigan Estimated Income Tax for Fiduciary and Composite Filers
Important Information
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Do not use this voucher to make any other payments to
the State of Michigan.
Do not use preprinted vouchers containing the Federal
Employer Identification Number (FEIN) of another
entity.
Failure to provide the filer’s complete FEIN on
Form MI-1041ES will result in processing delays.

Who Must File Estimated Payments
Fiduciaries of an estate or trust (resident or nonresident),
generally must pay estimated income tax payments if the
estate or trust is expected to owe more than $500 after
subtracting withholding and credits.
Composite filers are required to pay estimated payments for
all participants whose share of annual income tax liability
is expected to exceed $500 after personal exemption and
credits.
Fiduciary Filers
If the estate or trust owes more than $500, estimated
payments may not have to be made if the estate or trust
expects the 2024 withholding to be at least:
• 90 percent of the total tax for 2024, OR
• 100 percent of the total tax shown on the 2023 return,
OR
• 110 percent of the total 2023 tax if the estate’s or trust’s
taxable income for 2023 is more than $150,000. To
figure the estate or trust’s federal taxable income, see the
instructions for line 23 of the U.S. Form 1041.
A financial institution that submits estimated payments
through the Federal Tax Deposit System on magnetic
tape and acts as a fiduciary for 200 or more trusts must
submit Michigan estimated payments on magnetic tape.

An institution acting as fiduciary for more than 49 and
fewer than 200 trusts may make an irrevocable agreement
to file magnetically.
Exceptions:
• Generally, no estimated tax is due if the estate or trust is
due a refund or has a balance due of $500 or less.
• There is no estimated tax due on an estate or a trust that
had no tax liability for the full 12 months preceding the
tax year.
• Estimated payments are not required from a decedent’s
estate for any tax year ending before the date that is
2 years after the decedent’s death.
Composite Filers
Flow-through entities (FTE) who file a Michigan
Composite Individual Income Tax Return (Form 807)
must pay estimated payments on behalf of all participants
whose share of annual income tax liability is expected
to exceed $500 after personal exemption and credits.
For each quarter, compute the combined quarterly
estimated payment for all participants and report on one
Form MI-1041ES. Form MI-1041ES must be completed
with the name and FEIN of the FTE who will claim the
estimated payments on the composite return. Estimated
payments should only be remitted for participants of a
composite return.
Payment Due Dates
Fiduciaries and composite filers may pay in full with
the first voucher, due April 15, 2024. Fiduciaries and
composite filers may also pay in equal installments due
on or before April 15, 2024, June 17, 2024, September 16,
2024 and January 15, 2025.
Generally, all fiduciaries of trusts must report on a
calendar year. Report the same year that is being reported
for federal estimated payments.

Detach here and mail with your payment. Do not fold or staple the voucher.

2024 MICHIGAN MI-1041ES
Estimated Income Tax Voucher for Fiduciary and Composite Filers

Due Date for Calendar Year Filers

Issued under authority of Public Act 281 of 1967, as amended. See instructions for filing guidelines.

Filer

Filer’s Full Federal Employer Identification No. (FEIN)
Fiduciary

Composite

Estate/Trust and Fiduciary Name, Title and Address or
Composite Filer Name and Address

WRITE PAYMENT
AMOUNT HERE
MAIL TO:
Michigan Department of Treasury
P.O. Box 30774
Lansing, MI 48909

$

00

Enclose check payable to “State
of Michigan.” Write the FEIN of
the estate, trust or composite
filer and “2024 MI-1041ES” on
the check. Do not fold or staple.

Fiscal-year returns must be adjusted so all dates
correspond with the fiscal year. The first estimated
payment is due on the 15th day of the fourth month after
the fiscal year ends.
Fiscal-year filer due dates apply regardless of the tax years
of composite return participants.
Where to Mail Payments
Make the check payable to “State of Michigan.” Enter
the FEIN of the estate, trust or composite and “2024
MI-1041ES” on the front of the check. To ensure accurate
processing of the return, send one check for each return.
Mail check with the MI-1041ES form for that installment.
Do not staple the check to the form.
Send check and voucher to:
Michigan Department of Treasury
P.O. Box 30774
Lansing, MI 48909
Late Payments or Underpayments
If a fiduciary or composite filer fails to make required
estimated payments, pays late or underpays in any quarter,
Treasury may charge penalty and interest. Penalty is 25
percent of the tax due (minimum $25) for failing to file
estimated payments or 10 percent (minimum $10) for failing
to pay enough with estimates or paying late. If payment is

late, penalty and interest must be added to the amount due.
The interest rate is 1 percent above the prime rate and is
computed daily. The rate is adjusted on July 1 and January 1.
When Income Changes During the Year
If estimated payments for the estate, trust or composite filer
have already been made, amend the estimate on the next
installment voucher. Apply the increase or decrease equally
over the remaining installments. To avoid amending the
fourth installment voucher, file the 2024 income tax return
before February 1, 2025. With this option, it is not necessary
to file the fourth installment voucher (due January 15, 2025).
If no estimated payments have been made, use the chart
below to see which period the tax is due.
If the change occurs:
Pay on or before:
Jan. 1 through March 31 ................ April 15, 2024
April 1 through May 31 .................. June 17, 2024
June 1 through Aug. 31.................. Sept. 16, 2024
Sept. 1 through Dec. 31 ................... Jan. 15, 2025

Worksheet Instructions for Estates and Trusts
Estimate the estate’s or trust’s 2024 income. Use the
2023 Michigan and U.S. fiduciary income tax returns
for the estate or trust for reference (even if not yet
completed). Michigan uses federal taxable income
of the fiduciary to figure tax. See form MI-1041
for allowable additions and subtractions. Enter the
estimated taxable income on line 1.
After completing lines 1 and 2, finish the worksheet
by following the instructions on each line. Refer to the

corresponding sections in the tax instruction booklets
for additional guidance.
After completing the worksheet, call 517-636-4486
if additional assistance is needed to determine the
required estimates. Assistance is available using TTY
through the Michigan Relay Service by calling 711.

Estimated Tax Computation Worksheet
1.
2.
3.
4.
5.
6.
7.

Keep for Your Records

Enter estimated 2024 taxable income (from U.S. Form 1041)........................................
Tax. Multiply line 1 by 4.25% (0.0425) ..........................................................................
Enter all estimated credits................................................................................................
Enter tax expected to be withheld....................................................................................
Total deductions. Add lines 3 and 4.................................................................................
Estimated tax due. Subtract line 5 from line 2 ................................................................
Estimated payment due. Divide the amount on line 6 by 4, or by the number of
estimated vouchers to be filed (see instructions). Enter here and on each voucher.........

1. ______________
2. ______________
3. ______________
4. ______________
5. ______________
6. ______________
7. ______________

NOTE: Apply the 2023 overpayment credit to the first quarter. Any unused credit must then be applied to the following
quarters, until the entire credit is used.