1120W-ME: Worksheet for Calculating Estimated Tax Payments (2025)
Maine · Maine Revenue Services · Used for tax years 2025
Form 1120W-ME is a worksheet for calculating 2025 Maine corporate estimated income tax payments for Form 1120ES-ME. It records estimated tax, prior-year overpayment credits, quarterly balances due, and payments made. It also includes a worksheet for revising installments if estim
Who files this form
Form 1120W-ME is a worksheet for calculating Maine corporate estimated tax payments. Keep it for your records.
Every corporation subject to Maine income tax under 36 M.R.S., Part 8 must pay estimated tax. This requirement is waived if the corporation’s income tax liability, after allowable credits, is less than $1,000 for either the current tax year or the prior tax year.
When it's due
For tax year 2025, calendar-year corporations, estimated tax installments are due:
- April 15, 2025
- June 16, 2025
- September 15, 2025
- December 15, 2025
These printed dates apply only to calendar-year filers.
What you'll need
Have these figures and payment records available to complete the worksheet:
- Adjusted federal taxable income for 2024 or estimated adjusted federal taxable income for 2025, depending on the year selected.
- Your estimated Maine apportionment factor.
- Any prior-year overpayment elected for credit toward estimated tax.
- The due date of your 2024 Form 1120ME, without an extension, and the date of the payment that created the overpayment, if applicable.
- Quarterly payment amounts, payment dates, and check or bank transaction numbers.
For an amended calculation, you also need the revised estimated Maine corporate income tax, credits applied to date, payments already made, and the number of remaining installments.
Common mistakes
- Not keeping the worksheet. The form says to keep it for your records.
- Overlooking a change in estimated tax. The form notes that you may use the amended computation worksheet if your estimated tax changes during the year.
- Ignoring an installment underpayment. A penalty equal to the interest rate on overdue taxes accrues automatically on underpaid required installments. Use Form 2220ME to calculate the penalty.
Questions people ask
How much estimated tax must a corporation pay?
Generally, estimated tax must be at least the smaller of the prior year’s tax liability, if that year was 12 months, or 90% of the current year’s tax liability. Large corporations have special rules and generally must use 90% of current-year liability.
Are payments normally divided into four equal installments?
Yes. The instructions require four equal installments unless the corporation establishes the actual distribution of tax liability and allowable credits with adequate records, or the special rules for large corporations apply.
How do I apply a 2024 overpayment?
Enter it in column B in the row corresponding to the due date of the 2024 Form 1120ME, without regard to an extension, or the date of the payment that created the overpayment, whichever is later. Carry any amount exceeding that row’s quarterly estimate to the following row until the overpayment is used.
What if my estimated tax changes during the year?
You may use the amended computation worksheet. Subtract prior-year credits applied to date and current-year payments from the amended estimated tax, then divide the unpaid balance by the number of remaining installments.