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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
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Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
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1. Reset Form
Michigan Department of Treasury (Rev. 11-08), Page 1 Issued under authority of
2008 MICHIGAN Underpayment of Estimated Income Tax MI-2210 Public Act 281 of 1967.
Attach to Form MI-1040 or MI-1041. Round all money items to whole dollars. Type or print in blue or black ink.
Year (YYYY) Month/Year (MM-YYYY)
1. For 2008 or taxable year beginning: and ending:
Attachment 12
2. Filer’s First Name M.I. Last Name 43. Filer’s Social Security Number (Example: 123-45-6789)
If a Joint Return, Spouse’s First Name M.I. Last Name 4. Spouse’s Social Security Number (Example: 123-45-6789)
PART 1: ESTIMATED TAX REQUIRED FOR THE YEAR
00
5. Enter 2007 tax. Subtract the sum of MI-1040 lines 26, 27, 28 and 29 from line 20 (see instructions) ................. 5.
00
6. Enter 2008 tax. Subtract the sum of MI-1040 lines 27, 28, 29, 30 and 31b from line 20 (Fiduciaries, see instructions) 6.
00
7. Multiply amount on line 6 by 90% (0.9) ................................................................................................................. 7.
00
8. Compare the amount on lines 5 and 7. Enter the smaller number ....................................................................... 8.
Check this box if you use the annualized income installment method. If your income varied during the year, this method may reduce
49. the amount of one or more required installments.
PAYMENT DUE DATES A B C D
April 15, 2008 June 16, 2008 Sept. 15, 2008 Jan. 15, 2009
NOTE: Complete lines 11-22 one column at a time.
10. Divide the amount on line 8 by 4. Enter in each column.
CAUTION: If annualizing, enter amount from worksheet line 16.
11. Estimated tax paid and withheld.
(For column A only, enter amount from line 11 on line 15.)
12. Enter amount, if any, from line 18 of the previous column.
13. Add lines 11 and 12.
14. Add amounts on lines 16 and 17 of the previous column
and enter the result here.
15. Subtract line 14 from line 13. If zero or less, enter “0”.
(For column A only, enter the amount from line 11.)
16. Remaining underpayment from previous period. If amount on
line 15 is zero, subtract line 13 from line 14 and enter result here.
17. UNDERPAYMENT. If line 10 is greater than or equal to line 15,
subtract line 15 from line 10 and enter the result. Then go
to line 11 of the next column. Otherwise, go to line 18.
18. OVERPAYMENT. If line 15 is greater than line 10, subtract line
10 from line 15 and enter here. Then go to line 11 of next column.
PART 2: FIGURING THE INTEREST
19. Underpayment from line 17.
20. a. Rate Period 1: 9.2%. April 15, 2008 - June 30, 2008
April 15, 2008 June 16, 2008
Computation starting date for this period:
b. Number of days from date on line 20a to the date line 19
was paid or June 30, 2008, whichever is earlier. If June 30 is
earlier, enter 76 and 14 respectively.
c. .0002514 x days on line 20b x underpayment on line 19.
21. a. Rate Period 2: 7.9%. July 1, 2008 - Dec. 31, 2008
June 30, 2008 June 30, 2008 Sept. 15, 2008
Computation starting date for this period:
b. Number of days from date on line 21a to the date line 19
was paid or December 31, 2008, whichever is earlier. If
Dec. 31 is earlier, enter 184, 184 and 107 respectively.
c. .0002151 x days on line 21b x underpayment on line 19.
+ 0000 2008 53 01 27 3
2. 2008 MI-2210, Page 2 Filer’s Social Security Number
22. a. Rate Period 3: 6.0%. Jan. 1, 2009 - June 30, 2009
Dec. 31, 2008 Dec. 31, 2008 Dec. 31, 2008 Jan. 15, 2009
Computation starting date for this period:
b. Number of days from date on line 22a to the date line 19
was paid or April 15, 2009, whichever is earlier. If April 15
is earlier, enter 105, 105, 105 and 90 respectively.
c. .0001644 x days on line 22b x underpayment on line 19.
23. Interest. Add amount on lines 20c, 21c and 22c in all columns. Enter the total interest here
00
and on the appropriate line on your MI-1040 or MI-1041 ...................................................................................... 23.
A B C D
PART 3: FIGURING THE PENALTY April 15, 2008 June 16, 2008 Sept. 15, 2008 Jan. 15, 2009
00 00 00 00
24. Underpayment (see instructions)..................................... 24.
% % % %
25. Enter 25% (0.25) or 10% (0.10) (see instructions) .......... 25.
00 00 00 00
26. Multiply amount on line 24 by line 25 .............................. 26.
27. TOTAL PENALTY. Add line 26, columns A through D. Enter total penalty here and in appropriate space
00
on the pay line of your MI-1040 or MI-1041........................................................................................................... 27.
00
28. Add lines 23 and 27. This is your total penalty and interest to be added to your tax due .................................... 28.
This form computes penalty and interest for estimate vouchers to the date of payment or April 15, 2009, whichever is earlier.
Additional penalty and interest for late filing accrues on your annual return from April 15 to the date of payment.
ANNUALIZED INCOME WORKSHEET
Complete one column at a time. Line numbers refer to this worksheet unless another form is listed.
Estates and trusts: Use the following period ending dates: 2/29/08, 4/30/08, 7/31/08 and 11/30/08.
Do not use the dates in the column headings below.
B C D
A
First 8 months 12 months
First 3 months First 5 months
1-1 to 8-31-08 1-1 to 12-31-08
1-1 to 3-31-08 1-1 to 5-31-08
1. Enter total income subject to tax (reported on 2008
MI-1040, line 14) that is attributable to each period in the
corresponding column ........................................................... 1.
4 2.4 1.5 1
2. Annualization amounts .......................................................... 2.
3. Annualized total income. Multiply line 1 by line 2 ................. 3.
4. Enter total exemption allowance (MI-1040, line 15) .............. 4.
5. Subtract line 4 from line 3 ...................................................... 5.
6. Multiply line 5 by 2008 tax rate 4.35% (0.0435) .................... 6.
7. Enter the sum of your 2008 MI-1040 credit from lines 19,
27, 28, 29, 30 and 31b in each column ................................. 7.
8. Tax after credits. Subtract line 7 from line 6 (if zero or less,
enter “0”) ................................................................................ 8.
9. Multiply line 8 by 22.5% (1st period), 45% (2nd period), (line 8 x 22.5%) (line 8 x 45%) (line 8 x 67.5%) (line 8 x 90%)
67.5% (3rd period) and 90% (4th period).
Enter the results in each column ........................................... 9.
10. Enter combined amounts from line 16 of all previous
columns ................................................................................. 10.
11. Subtract line 10 from line 9 (if zero or less, enter “0”) ........... 11.
12. Required quarterly payment. Divide the amount on MI-2210,
line 8, page 1, by four and enter the result in each column ... 12.
13. Enter the amount from line 15 of the previous column .......... 13.
14. Add lines 12 and 13 ............................................................... 14.
15. Subtract line 11 from line 14 (if zero or less, enter “0”).......... 15.
16. Required installments. Enter the smaller of lines 14 or 11
here and on MI-2210, line 10, page 1.................................... 16.
+ 0000 2008 53 02 27 1
3. Instructions for Form MI-2210
2008 MI-2210, Page 3
Underpayment of Estimated Income Tax
Complete the MI-2210 form and the annualization
General Instructions
worksheet and attach them to your Michigan annual tax
Use this form to determine if you owe penalty and interest return (individual or fiduciary).
for failing to make estimated payments or for underpaying
Completing the Worksheet
the estimated tax due. You can be charged interest (and
You must annualize for the entire year by completing all
possibly penalty) if your payment was insufficient or late in
four columns.
any quarter. This is true even if you are due a refund when
Complete one column at a time. Line 1 must be the year-
you file your tax return. The interest and penalty are figured
to-date total for each period in the appropriate column.
separately for each due date; you could still owe interest
Each column is an accumulating total and should include
and penalty even if you made up an earlier underpayment
the amount from the previous column plus any additional
with an overpayment later.
income earned to date. The last column should equal the
The estimated tax payments must be made timely, in four
amount on your MI-1040, line 14.
equal installments, and the sum of the installments must
Example: You earned $5,000 in the first three months of
equal:
the year. You earned an additional $4,000 during April and
• 90 percent of the tax shown on your 2008 tax return,
May. Enter on worksheet line 1, $5,000 in the first column
or
and $9,000 in the second column.
• 100 percent of the tax shown on your 2007 tax return,
Each entry on worksheet line 13 will be MI-2210, Part 1,
or
line 8, divided by four regardless of how the income is
• 110 percent of the tax shown on your 2007 return if
earned. If you add worksheet line 17 across the columns,
Adjusted Gross Income (AGI) was $150,000 or more
the sum should equal the total shown on MI-2210, line 8.
for joint or single filers or $75,000 or more for married
Taxpayers who annualize must also enter 25 percent of
filing separately.
tax withheld in each column of the MI-2210, line 11, or
Because this is a complicated form, you may choose to
submit documentation to substantiate uneven distribution
have Treasury compute your interest and penalty and send
of withholding.
you a bill instead of filing the form yourself. If you want
Special Rules for Farmers, Fishermen and Seafarers
Treasury to figure your interest, complete your MI-1040
Do not file this form if BOTH of these apply:
form as usual, leaving the interest line blank and do not
attach form MI-2210. Interest computed on this form and • Your gross income from farming, fishing or seafaring
penalty charged for failing to file or underpaying estimates is at least 2/3 of your annual gross income for 2007 or
will be the same regardless of whether you pay with your 2008, AND
return or if Treasury bills you.
• You filed your MI-1040 and paid the entire tax due by
You may avoid penalty and interest and should not file March 1, 2009.
this form IF:
Where to Get Forms
• You had no tax liability for 2007 (if you had to file), If you need to file estimated tax, a 2009 Michigan
or you were not required to file a 2007 return and your estimated income tax formset (MI-1040ES for individuals,
2007 federal tax return was for a full 12 months. MI-1041ES for fiduciaries) is available on the Treasury
• The total tax on your 2008 return minus the amount you Web site at www.michigan.gov/taxes or by calling
paid in withholding and all your credits is $500 or less. toll-free 1-800-827-4000 to have tax forms mailed to you.
• You made timely estimated tax payments. Line-by-Line Instructions
• No penalty is charged if estimates were not required in
Before completing Part 1, add MI-1040 lines 27, 28, 29,
the immediately preceding year, however interest may
30, 31b and 32. Subtract this sum from MI-1040, line 20.
still be due.
If the result is $500 or less, do not complete this form. For
Annualizing
MI-1041, subtract line 24 from line 23. If the result is $500
If you receive income unevenly during the year (i.e., from or less, do not complete this form.
a seasonal business, capital gain, severance pay or bonus)
FISCAL-YEAR FILERS: Change due dates and interest
you may annualize your income.
rates to correspond with your tax year.
4. 2008 MI-2210, Page 4
Example: Your tax due each period is $2,000. You
PART 1: FIGURING THE UNDERPAYMENT
have an underpayment of $1,000 for the first period (due
Line 5: Figure your 2007 tax from your 2007 return. On April 15). On June 10 you send $2,000 to pay the second
the MI-1040 form, subtract the sum of lines 26, 27, 28 and installment. But, $1,000 of this payment goes toward your
29 from line 20 and enter here. This amount must equal at $1,000 underpayment first. Interest is computed on $1,000
least 100 percent of the tax shown on your 2007 tax return, from April 15 to June 10 (56 days). The remaining $1,000
or 110 percent of the tax shown on your 2007 return if AGI is applied to your second installment payment, creating a
was $150,000 or more for joint or single filers or $75,000 second period underpayment of $1,000.
or more for married filing separately. Fiduciaries, enter the
Interest will continue to accrue on this $1,000 until another
amount from MI-1041, line 22.
payment is received.
Line 6: Figure your 2008 tax. On the MI-1040 form,
Interest rates are set by Treasury twice each year for six-
subtract the total of lines 27, 28, 29, 30 and 31b from
month periods starting January 1 and July 1. The rate is
line 20 and enter here. Fiduciaries, enter the amount from
1 percent above the prime rate in Michigan. For example,
MI-1041, line 23.
if the Michigan prime rate is 10.2 percent, your interest
Line 10: If you did not receive your income evenly rate for completing the MI-2210 is 11.2 percent for that
throughout the year, you may annualize your income. See six-month period. For current interest rates, visit our Web
the instructions and worksheet on this form. site at www.michigan.gov/taxes for a copy of Revenue
Administrative Bulletin 2008-5.
Line 11: Enter the estimated tax payments you made plus
any withholding. Note the following:
PART 3: FIGURING THE PENALTY
• One-fourth of your total withholding is considered paid
Penalty is 25 percent of the tax due (minimum $25), for
on each due date unless you can document the dates the
failing to file estimated payments or 10 percent (minimum
tax was withheld.
$10) for failing to pay enough with your estimates or paying
• An overpayment from 2007 that has been credited
late.
forward to 2008 will be applied to the first installment.
Line 24: The underpayment for the penalty charge is
• Do not enter extension payments on this form.
figured the same way as the underpayment for interest.
In column A, enter the estimated tax payments made
Exceptions:
by April 15, 2008, that were for the 2008 tax year. In
• Payments are applied in the quarter they are received.
column B, enter payments made after April 15 and through
June 16, 2008. In column C, enter payments made after • If an overpayment occurs in any quarter, the overpayment
June 16 and through September 15, 2008. In column D, amount is carried forward to the next quarter and applied
enter payments made after September 15, 2008, and through as a timely payment.
January 15, 2009. Extension payments or other payments • Payments are not carried back to offset underpayments
received after January 15 are not considered estimated tax in previous quarters.
payments for tax year 2008.
The amount on line 24 cannot be less than zero (0).
PART 2: FIGURING THE INTEREST Line 25: Enter 25 percent if estimated tax payments
were not made for 2008. Enter 10 percent if estimated tax
The MI-2210 computes interest to April 15, 2009, or the
payments were made for 2008.
date of payment, whichever is earlier. This part of the form
breaks down underpayments to the payment period they Example: In the example in Part 2, the $2,000 payment
are due, then gives the interest rate for that period. Interest received on June 10 is applied to the $2,000 required
is figured for the number of days the installment remained payment in the second quarter. The penalty in the first
unpaid. All payments are applied to any underpayment first, quarter is $100 (10 percent of the $1,000 underpayment in
regardless of when the payment is received. The balance (if the first quarter). The penalty in the second quarter would
any) is applied to the next period. be zero (0).
Note: Complete lines 11 through 23 for column A before
going to column B, etc. You need only complete each
column to the date the payment was made. If the total
underpayment for any payment period was not paid off
with one payment, you may need to do several calculations
in each column.