Fillable Printable 2015 Form Pw-U - Wisconsin Department Of Revenue

2015 Form Pw-U - Wisconsin Department Of Revenue

IC-006

18 IfPW-1ledlatewithoutanextension,enternetwithholdingtax .................

19 IfPW-1ledwithextendedduedateandshows–

(90%) (10%)

a Netwithholdingtaxof$500ormore,enterportionofnettaxindicated ..........

b Netwithholdingtaxoflessthan$500,enternettax .........................

20 Enterpaymentsmade(applyrstto18%peryearcolumn) .....................

21 Subtractline20fromline18or19aor19b.Thisisamountduethe15thdayofthe

  monththatincludesunextendedduedate(afterendoftaxableyear) .............

22 InterestonunderpaymentfromPartI,line17 ................................

23 Addlines21and22 ....................................................

    (18%peryear) (12%peryear)*

24 Interestonamountsonline23to (datePW-1led) .....

25 IfPW-1isled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$50orapplicablelatefee .........................................................................

26 Addlines24,25a,and25b.EnterthetotalonPW-1,line10 .....................................................

* Note:Seetheinstructionsforline24.

Part II Computation of Other Interest and Penalty Due

CompletethispartonlyifFormPW-1isnotledbytheunextendedduedateand

showswithholdingtaxdue.

(

)

Interest at

(

)

Interest at

18% per year 12% per year

(

)

Total

1 a Enter2015withholdingtaxcomputed(see instructions) .....................................

b Enter2015taxwithheldfromlower-tierentities ............................................

c Subtractline1bfromline1a.Thisis2015withholdingtaxduefortaxableyear(see instructions) ...................

2 Enter90%ofline1c .................................................................................

3 Enter2014withholdingtaxduefromPW-1,ifapplicable(see instructions) .........................

4 Ifprecedingtaxableyearreturncovered12months,usethesmallerofline2orline3;otherwise,enterline2 ...........

5 Enterinstallmentduedates(the15thdayofthe3rd,

  6th,9th,and12thmonthsofyourtaxableyear) ..............

6 Divideline4by4andentertheresultineachcolumnor,

  ifyouusetheannualizedincomeinstallmentmethodforany

  period,rstllinPartIIIandentertheamountsfromline45 ....

7 Estimatedwithholdingtaxpaid ...........................

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ledaftertheunextendedduedateand

  showswithholdingtaxdue,enterthetotalonPartII,line22.Otherwise,enterthetotalonthelineprovidedonPW-1,line9 ...

Part I Computation of Underpayment and Interest Due on Underpayment

Form

PW-U

Underpayment of Estimated Withholding Tax by

Pass-Through Entities

FilewithWisconsinFormPW-1

2015

WisconsinDepartment

ofRevenue

Name

FederalEmployerIDNumber

 (a) (b) (c) (d)

Tab to navigate within form. Use mouse to check

applicable boxes, press spacebar or press Enter.

Save

Clear

Go to Part III

Go to Page 2

27 EnterWisconsinnetincomeforeachperiod(see instructions) .

28 Annualizationfactor...................................

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 your applicable tax rate. 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yourrefundablecredits(excludingestimatedtaxpaid) .....

36 Subtractline35fromline34.Ifzeroorless,enterzero.

  Thisisannualizednetwithholdingtax ....................

37 Applicablepercentage ................................

38 Multiplyline36byline37 ..............................

39 Enterthecombinedamountsofline45fromallprecedingcolumns

40 Subtractline39fromline38.Ifzeroorless,enterzero .......

41 DividePart1,line4,by4andentertheresultineachcolumn ..

42 Entertheamountfromline44fortheprecedingcolumn ......

43 Addlines41and42andenterthetotal ...................

44 Ifline43ismorethanline40,subtractline40fromline43.

  Otherwise,enterzero .................................

45 Enterthesmallerofline40or43hereandonPart1,line6 ...

Page2of2

Purpose of Form PW-U–Pass-throughentitiesuseFormPW-Utodeter-

mineiftheyaresubjecttointerestforunderpaymentofestimatedwithholding

taxand,ifso,theamountofinterest.Apass-throughentitymusthavemade

estimatedwithholdingtaxpaymentsifthetotalofitswithholdingtaxforits

taxableyearbeginningin2015is$500ormore.FormPW-Uisalsoused

tocomputebothextensionanddelinquentinterestwheneverthewithhold-

ingtaxdueispaidaftertheendoftheunextendedduedateofthePW-1.

Part I–Computeanyunderpaymentofrequiredinstallmentsandtheamount

ofinterestdueinPartI.

Requiredinstallmentsarebasedonthesmallerof(1)90%of2015Wisconsin

net tax, (2) 100% of 2014 Wisconsin net tax, provided the 2014 return

coveredanentire12-monthperiod,or(3)90%ofthe2015Wisconsinnet

taxguredbyannualizingincome.

Line 1a – 1c.

Line1a.EntertheamountfromFormPW-1,line1.

Line1b.EntertheamountfromFormPW-1,line3.

Line1c.No underpayment interestisrequired if thepass-throughentity

meetsanyoftwocertainthresholds:(i)Ifline1c.islessthan$500,enter

zeroandgotoPartII,ifapplicable;(ii)Ifline1c.islessthan$5,000,the

pass-throughentityhadnowithholdingtaxliabilityfortheprecedingtaxable

year,andtheprecedingtaxableyearcovered12months,enterzeroand

gotoPartII,ifapplicable.

Line 3. Ifthepass-throughentityhadawithholdingtaxliabilityin2014,enter

theamountfrom2014PW-1(line1-line3).

Line 10.Completeline10onlyifyouhaveanoverpaymentonline9forone

ormoreinstallmentperiods.Theoverpaymentmaybecarriedbacktoprior

installmentperiodsandoffsetagainstanunderpaymentforsuchperiods.

Ifyouuseoverpaymentsfrommorethanoneinstallmentperiodtooffset

anunderpaymentofoneperiod,llinseparatelyonline10eachcarryback

usedtooffsettheunderpayment.

Line 11.Anyoverpayment remainingafter completingline 10shouldbe

carriedforwardtothenextperiod.

Lines 13 through 17.Completetheselinestodeterminetheamountof

interestdueontheunderpayment.Completelines13and15onlywhenan

overpaymentorlatepaymentiscarriedbackonline10.Ifyouapplymore

than one paymenttoagiveninstallment,attachastatementshowing a

separatecomputationforeachpayment.

IfyoudonothaveabalanceduebytheunextendedduedateofFormPW-1

(21/2monthsafterthecloseofatax-option(S)corporation’staxableyear

or31/2monthsafterthecloseofapartnership’s,limitedliabilitycompany

treatedasapartnership’s,trust’s,orestate’staxableyear),entertheamount

fromline17onFormPW-1.Otherwise,entertheamountfromline17on

PartII,line22,andcompletetherestofPartII.

Part II–CompletePartIIonlyifyourreturnisnotledbytheunextended

duedateandshowsabalancedue.

Line 20. Enterestimatedwithholdingtaxpaymentsmadeandwithholding

taxwithheldfromlower-tierentities.

Line 24.The12%interestappliestothetaxonline23,column(b),only

fortheextensionperiods.The18%interestappliestothesumonline23,

column(a),fromtheunextendedduedatetothedatethereturnisled.The

18%interestalsoappliestothetaxonline23,column(b),fromtheextended

duedatetothedatethereturnled.Entertotalinterestfromcolumns(a)

and(b)oncolumn(c).

Line 25a.

The “net tax due” is the total tax and economic development

surchargelessanyallowablecredits,withholding,andestimatedpayments

madebytheduedate,includingextensions,ofthereturn.

Part III–Ifyoucomputeoneormoreinstallmentsundertheannualized

incomeinstallmentmethod,completePartIIIandentertheamountsfrom

line45 onPart I,line 6.See sectionTax2.89,WisconsinAdministrative

Code,ifthetaxableyearcoverslessthan12months.

Lines 27 and 30.Donotincludeonline27itemswhichremainconstantfrom

periodtoperiod,suchasnetbusinesslosscarryforwardsandamortization

ofadjustmentsforchangesinmethodofaccounting.Instead,enterthese

itemsonline30,columns(a)through(d),intotal.

Part III Annualized Income Installment Method Worksheet

Fillinthisworksheetonlyifcomputingrequiredinstallmentsusingthe

annualizedincomeinstallmentmethod.Completeonecolumnthrough

line45beforecompletingthenextcolumn.

(

)

First2months

(

)

First5months

(

)

First8months

(

)

First11months

Annualization Period

 6 2.4 1.5 1.091

 22.5% 45% 67.5% 90%

2015FormPW-U

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