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CITY OF HIGHLAND PARK INSTRUCTIONS FOR HP-1040ES
1. PURPOSE OF CITY OF HIGHLAND PARK ESTIMATED INCOME TAX VOUCHERS:
Payment vouchers are provided for paying currently any income tax due in excess of the tax withheld.
2. WHO MUST MAKE ESTIMATED TAX PAYMENTS:
A. Individuals and Unincorporated Businesses – Every resident and nonresident subject to the tax from whom the tax is not withheld must pay Estimated Income Tax. A payment
is not required from individuals and unincorporated businesses, if the estimated tax on line 6 is One Hundred ($100.00) or less. A husband and wife may make joint payments
unless they are legally separated or divorced, or have different taxable years.
B. Corporations – Every Corporation subject to the tax on all or part of its net profits must make payments of Estimated Income Tax. A payment is not required from corporations
if the estimated tax on line 6 is Two Hundred Fifty Dollars ($250.00) or less.
C. Partnerships – A partnership whose partners are subject to the tax on all or part of their distributive share of net profits may make payments of Estimated Income Tax. If the
partnership makes payments, the partners will not be required to make payments as individuals, unless they have other income on which the Highland Park income tax is ex-
pected to exceed One Hundred ($100.00). The payments made by the partnership should be accompanied by a statement showing the names, addresses and social security
numbers of the partners on whose behalf the payments are being made.
3. WHEN AND WHERE TO PAY ESTIMATED TAX:
A. First Payment for Calendar Year – The First Payment for a calendar year must be filed on or beforeth April 30 of that year. The estimated tax is payable in equal installments on
or before Apr. 30th , June 30th , Sept.th30 , and Jan.st 31 .
B. First Payment for Fiscal Year – The First Payment for a fiscal year, or period differing from the calendar year, must be filed within four (4) months after the beginning of each fis-
cal year or period. For example, if your fiscal year begins onstApril 1 , your first will be due on Aug. 1. Remaining installments will then be due on thethlastthday of the 6 , 9 , and
13thmonths after the beginning of the fiscal year.
C. Filing and Payment – Mail and make checks payable to: City of Highland Park – Estimated Payment, P.O. Box 239, Eaton Rapids, MI 48827-0239. We do not send reminder
notices requesting estimated tax installment payments. Please send your payments with the attached vouchers when due. Put your social security number on your check.
4. INCOME SUBJECT TO TAX:
A. Resident – All salaries, wages, bonuses, commissions and other compensation, net profits from a business or profession, net rental income, capital gains less capital losses,
dividends, interest, income from estates and trusts and other income.
B. Nonresident – Salaries, wages, bonuses, commissions or other compensation for services rendered or work performed in Highland Park; net rental income from property in
Highland Park, net profit from a business, profession or other activity to the extent that it is from work done, services rendered or activity conducted in Highland Park; capital
gains less capital losses from the sale of real or tangible personal property located in Highland Park.
5. WITHHOLDING TAX CREDITS AND OTHER CREDITS;
A. Withholding Tax Credit – You may subtract from your estimate of Highland Park Income Tax the amount of Highland Park income tax expected to be withheld.
B. Income Tax Paid by Partnership – If you are a member of a partnership which elects to file a return and pay the tax on behalf of its partners, you may subtract from your esti-
mate of Highland Park Income Tax the amount of tax expected to be paid by the partnership for your distributive share of net profits.
C. Income Tax Paid to Another Municipality – If you are a resident of the City of Highland Park and pay income tax to another municipality, you may subtract from your
estimate of Highland Park Income Tax a portion of the income tax paid to the other municipality. The credit may not exceed the tax that a non-resident of Highland
Park would have paid on the same income.
6. INTEREST AND PENALTIES:
If the total amount of tax withheld or paid is less than seventy percent (70%) of the tax shown on the taxpayer’s final return for the current or preceding taxable year, interest and
penalties will be charged.
7. ANNUAL RETURN REQUIRED:
The Payment of estimated tax does not excuse the taxpayer from filing an annual return.
1. Taxable Income Expected in 2023.................................................................................................................................. $ ......................................
2. Exemptions ($600 For Each Exemption) ........................................................................................................................ ______________________
3. Estimated Highland Park Taxable Income (Line 1 less Line 2) ....................................................................................... ______________________
Resident Individuals enter 2% of line 3
4. Estimated Highland Park Income Tax.............................................................................................................................Non-resident Individuals enter 1% of line 3 ______________________
Corporation enter 2% of line 3
5. Amount of Highland Park Income Tax to be withheld or other credit expected ............................................................ ______________________
6. ESTIMATED TAX (Line 4 less line 5)................................................................................................................................ ______________________
7. Computation of Installment: Check Due Date of Declaration below and enter portion of line 6 as indicated:
Apr. 30, 2023 – 1/4; June 30, 2023 – 2/4; Sept. 30, 2023 –3/4; Jan. 31, 2024 – 100% ______________________
8. Amount of overpayment from last year elected to be credited to this years estimated tax.
........................................................................................................................................................................................ ______________________
9. Amount to be paid (Line 7 less line 8)
........................................................................................................................................................................................ $ ......................................
(Keep For Your Records — Do Not File)
ESTIMATED TAX WORKSHEET NUMBER A DATE B AMOUNT C 2022 OVERPAYMENT D TOTAL AMOUNT
VOUCHER CREDIT APPLIED TO PAID AND CREDITED
PAID INSTALLMENT ADD (B) AND (C)
1
2
2023
3
4
RECORD OF ESTIMATED TAX PAYMENTS TOTAL
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