Maine Underpayment of Estimated Tax by Individuals, Estates, or Trusts

Underpayment of Estimated Tax by Individuals, Estates, or Trusts
2023 Form 2210 Annualized Income Installment Worksheet for Underpayment of Estimated Tax
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Annualized Income Installment Worksheet for Underpayment of Estimated Tax
COMPLETE LINES 1-25 OF EACH COLUMN BEFORE GOING ON TO THE NEXT COLUMN
(See instructions on back)

Enter your Maine adjusted gross income for
each period (Estates/Trusts, enter your Maine
taxable income without your federal exemption
for each period)...................................................... 	 1

2.	 Annualization amounts........................................... 	 2	

(a) 1/1/23	
to 3/31/23	

(b) 1/1/23	
to 5/31/23	

(c) 1/1/23	
to 8/31/23	

(d) 1/1/23
to 12/31/23

4	2.4	 1.5	 1

3.	
4.	
	
	
	
	

Annualized income (multiply line 1 by line 2)......... 	 3
Enter your itemized deductions for the period
shown in each column. If you do not itemize,
enter -0- and skip to line 7 (Estates/Trusts,
enter -0- and skip to line 9 and enter the amount
from line 3 on line 9.).............................................. 	 4

5.	
6.	
	
7.	
	

Annualization amounts........................................... 	 5	4	
Annualized itemized deductions. Multiply line 4
by line 5.................................................................. 	 6
In each column, enter the full amount of your
standard deduction from Form 1040ME, line 17.... 	 7

2.4	

1.5	

1

8.	 Enter line 6 or line 7, whichever is greater............. 	 8
9.	 Subtract line 8 from line 3...................................... 	 9
10.	In each column, enter the amount from Form
	 1040ME, line 18 (Estates/Trusts, enter the
	 exemption amount shown on federal
	 Form 1041)............................................................. 	 10
11.	 Subtract line 10 from line 9.................................... 	 11
12.	Figure your tax on the amount on line 11 using
	 the Tax Table or the Tax Rate Schedules
	 available at www.maine.gov/revenue..................... 	 12
13.	Enter tax credit recapture amounts for each
	 payment period (See instructions)......................... 	 13
14.	Total Tax. Add lines 12 and 13.............................. 	 14
15.	For each period, enter credits allowed
	 (See instructions)................................................... 	 15
16.	Subtract line 15 from line 14. If zero or less,
	 enter -0-.................................................................. 	 16
17.	Applicable percentage............................................ 	 17	22.5%	
18.	Multiply line 16 by line 17....................................... 	 18
19.	Add the amounts shown on line 25 in all
	 preceding columns, and enter the result here........ 	
20.	Subtract line 19 from line 18. If zero or less,
	 enter -0-.................................................................. 	
21.	Divide line 6, Form 2210ME, by four (4) and
	 enter the result in each column.............................. 	
22.	Enter the amount from line 24 of the preceding
	column ................................................................... 	

19
20
21
22

23.	Add lines 21 and 22 and enter the total................. 	 23
24.	If line 23 is more than line 20, subtract line
	 20 from line 23. Otherwise, enter -0-...................... 	 24
25.	Enter the smaller of line 20 or line 23 here and
	 on Form 2210ME, line 9......................................... 	 25	

45%	

67.5%	

90%

ANNUALIZED INSTALLMENT WORKSHEET
If your income varied during the year because, for example, you own a seasonal business or the majority of your income
was received in one payment, you may be able to lower or eliminate the amount of your quarterly estimated tax payments
by using the annualized income installment method. Use the Annualized Income Installment Worksheet to calculate the
required 2023 installment for each payment due date.
SPECIFIC INSTRUCTIONS
Note: You must complete lines 1-25 of each column before going on to the next column.
(First complete Form 2210ME lines 1 through 7)
ANNUALIZED PERIODS: If your annualized periods are different than those shown, enter the correct periods. See 36
M.R.S. § 5228, sub-§§ 4, 5 and 7.
Line 1. Enter your total Maine adjusted gross income for the period. Estates and Trusts, enter your Maine taxable income
less your federal exemption for the period.
Lines 4 and 7. If your annualized Maine adjusted gross income is more than $91,500 if single or married filing separately;
$137,300 if head of household; or $183,050 if married filing jointly or qualifying surviving spouse, your itemized or standard
deductions are subject to phaseout. See the Worksheet for Standard/Itemized Deductions to calculate your itemized or
standard deduction amount available at www.maine.gov/revenue/tax-return-forms.
Line 10. If your annualized Maine adjusted gross income is more than $305,150 if single; $335,650 if head of household;
$366,100 if married filing jointly or qualifying surviving spouse; or $183,050 if married filing separately, your personal exemption
amount is subject to phaseout. See the Worksheet for Phaseout of Personal Exemption Deduction Amount to calculate your
personal exemption amount available at www.maine.gov/revenue/tax-return-forms.
Line 13. Enter the amount of credits used in prior years to reduce Maine income tax that become subject to recapture during
the months shown in the column headings (see Form 1040ME, line 20a or Form 1041ME, Schedule A, line 1).
Line 15. Enter the refundable and nonrefundable credits you are entitled to because of events that occurred during the
months shown in the column headings (see Form 1040ME, lines 25d and 25e and Schedule A or Form 1041ME, Schedule
A). For example, the amount of child care credit resulting from payments you made during the first quarter should be included
in column 1, line 15.
Line 19. Add the amounts on line 25 of each preceding column and enter the total here.
Line 25. This is the amount of your estimated tax due. Enter the smaller of line 20 or line 23 here and on Form 2210ME,
line 9 in the corresponding column.