| CORPORATION NAME |
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| Tax Projection
Worksheet |
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Federal Income Tax
Calculation |
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| Tax Year
Ending: |
12/31/06 |
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Option #1 |
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| Net Book Income
Before Adjustments |
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0 |
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| Non
Taxable/Deductible Items: |
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| FIT - Refunds
(from NOL c/b 1999 & 2000)
(12787+2928) |
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(15,715) |
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| FIT |
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0 |
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Total
Amount |
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| Officer Life
Ins. |
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0 |
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Tax |
Book |
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| Fixed Asset
Gain Bk vsTx |
0 |
0 |
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0 |
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| Life Insurance
Proceeds |
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(68,124) |
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| Penalties |
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0 |
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Tax |
Book |
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| Deprec. Tax v.
Book |
0 |
0 |
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0 |
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| Meals &
Ent: |
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Total: |
0 |
* 1/2 |
0 |
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| Non-deductible
Dues |
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7,799 |
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| NOL
Carryforward |
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(3,422) |
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| Net Taxable
Income ( before actual SBT tax): |
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(79,462) |
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| SBT actual
tax |
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#REF! |
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| Net Federal
taxable income |
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#REF! |
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| ANNUAL PROJECTED TAX CALC. |
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ANNUAL
ESTIMATED PAYMENT CALC. |
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| Taxable
Income |
#REF! |
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Total Tax |
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#REF! |
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| Tax |
#REF! |
#REF! |
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Less: Estimated Pmts to
Date |
0 |
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#REF! |
#REF! |
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#REF! |
#REF! |
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Tax Due |
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#REF! |
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#REF! |
#REF! |
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#REF! |
#REF! |
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Less Last Yr. Overpmt Cr.
Fwd |
0 |
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#REF! |
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Remaining Tax
Liability |
#REF! |
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| MONTHLY PROJECTED TAX ACCRUAL |
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| Projected
Annual Tax: |
#REF! |
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/12 |
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| Current Month
Tax Accrual: |
#REF! |
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| TAX RATES |
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| Taxable Income |
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+ % on |
Of the |
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| Over |
But not Over |
Pay |
Excess |
Amt Over |
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| 0
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50,000 |
0 |
15% |
0 |
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| 50,000
|
75,000 |
7,500 |
25% |
50,000 |
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| 75,000
|
100,000 |
13,750 |
34% |
75,000 |
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| 100,000
|
335,000 |
22,250 |
39% |
100,000 |
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| 335,000
|
10,000,000 |
113,900 |
34% |
335,000 |
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