Wisconsin Underpayment of Estimated Tax by Corporations

Underpayment of Estimated Tax by Corporations
2023 DC-033 Form U Underpayment of Estimated Tax by Corporations (fillable)
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U

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Underpayment of Estimated Tax by Corporations
File with Wisconsin Form 4, 4T, 5S, or 6

Wisconsin Department Corporation or Designated Agent Name	
of Revenue

	 Part I	

Federal Employer ID Number

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2023

Computation of Underpayment and Interest Due on Underpayment

	1	 a	 Enter 2023 net tax plus the economic development surcharge . . . . . . . . . . . . . . . . . . . . . . . . . .
		b	 Enter 2023 refundable credits (excluding estimated tax and surcharge paid). . . . . . . . . . . . 
		c	 Subtract line 1b from line 1a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
		d	 Wisconsin tax withheld for 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
		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 2022 net tax plus the economic development surcharge, if applicable . . . . . . . . . . . . . . . 
		b	 Enter 2022 refundable credits (excluding estimated tax and surcharge paid) . . . . . . . . . . . 
		c	 Subtract line 3b from line 3a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4	 If 2023 net income is less than $250,000 and 2022 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)

	 5	 Enter installment due dates (see instructions). . . . . . . . . . . . 
	 6	 If 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 . . 
	 7	 Estimated 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. . . . . . . . . . . . . . . . . . . . . . . . . . .
	10	 Carryback of overpayment or late payment. . . . . . . . . . . . .
	11	 Carryforward of overpayment. . . . . . . . . . . . . . . . . . . . . . . .
	12	 Subtract the total of lines 10 and 11 from line 8. This is
your net underpayment . . . . . . . . . . . . . . . . . . . . . . . . . . . .
	13	 Number of days from the due date of the installment to
the date carryback on line 10 was paid . . . . . . . . . . . . . . . .
	14	 Number 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 . . . . . . . . . . . . . . . .
	15	 Interest: 12% per year on amount on line 10 for the
number of days on line 13 . . . . . . . . . . . . . . . . . . . . . . . . . .
	16	 Interest: 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.

To Page 2

DC-033 (R. 8-23)

2023 Form U

	 Part II	

Page 2 of 2

Computation of Total Amount Due

Complete this part only if your return is not filed by the unextended due date and shows
a tax due.

(a) Interest at
18% per year

(b) Interest at
12% per year

(90%)

(10%)

(18% per year)

(12% per year) *

(c) Total

	18	 If return filed late without an extension, enter net tax (including surcharge) . .
	19	 If return filed with extended due date and shows –
		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) . . . . . . . . . . . . . .
	21	 Subtract 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 . . . . . . . . . . . . . . . . . . . . . . . . .
	23	 Add lines 21 and 22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
	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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
	26	 Add 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

	27	 Enter Wisconsin net income for each period (see instructions)
	28	 Annualization factor (see instructions) . . . . . . . . . . . . . . . . 
	29	 Multiply line 27 by line 28. . . . . . . . . . . . . . . . . . . . . . . . 
	30	Adjustments (NBLs, etc. – see instructions) . . . . . . . . . . . 
	31	 Combine lines 29 and 30. This is annualized income. . . 
	32	 Multiply line 31 by 7.9% (0.079). This is annualized gross tax.
	33	 Enter your nonrefundable credits . . . . . . . . . . . . . . . . . . 
	34	 Subtract line 33 from line 32. If zero or less, enter zero . 
	35	 Enter economic development surcharge (based on
		 amount in this column) . . . . . . . . . . . . . . . . . . . . . . . . . . 
	36	 Add lines 34 and 35 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 
	37	 Enter 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. . . . . . . . . . . . . . . . . . . . . . . . 
	39	 Applicable percentage (see instructions) . . . . . . . . . . . . . . 
	40	 Multiply line 38 by line 39. . . . . . . . . . . . . . . . . . . . . . . . 
	41	 Enter the combined amounts of line 47 from all preceding
		columns. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 
	42	 Subtract line 41 from line 40. If zero or less, enter zero . 
	43	 If 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.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
	44	 Enter the amount from line 46 for the preceding column. 
	45	 Add lines 43 and 44 and enter the total. . . . . . . . . . . . . . 
	46	 If line 45 is more than line 42, subtract line 42 from line 45.
		 Otherwise, enter zero. . . . . . . . . . . . . . . . . . . . . . . . . . . 
	47	 Enter the smaller of line 42 or 45 here and on Part 1, line 6.

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