Corporate Tax

Maine Income Providers will publish Kind 1120W-ME, Estimated Company Tax Worksheet for Kind 1120ES-ME in 2021

July 21, 2021, 5:00 a.m.

Maine Revenue Services (MRS) released Form 1120W-ME 2021, Estimated Tax Worksheet for Form 1120ES-ME, and instructions for corporate tax purposes on December 1, 2020. The general instructions include: 1) The obligation to pay the estimated tax is waived if the income tax liability for the current tax year or the previous tax year, minus all allowable credits, is less than $ 1,000; 2) Installment payments are due on the 15th day of the fourth, sixth, ninth and twelfth month after the start of the company’s financial year; and 3) a penalty equal to the interest rate for overdue taxes …

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