Mississippi Partnership Income Tax Estimate Voucher

The Mississippi Partnership Income Tax Estimate Voucher is a form used by partnerships to report and remit estimated income tax payments for the owners or partners. Partnerships in Mississippi must calculate a portion of their net gain or profit and submit it on behalf of each partner to ensure timely tax compliance. This form helps the Mississippi Department of Revenue track estimated tax payments, maintain accurate records, and avoid underpayment penalties. It provides a structured way to report each partner’s share of the estimated tax and ensures proper allocation of payments among multiple owners. Filing this voucher correctly ensures that the partnership meets its state tax obligations and that each partner’s estimated taxes are properly credited.

How To File The Mississippi Partnership Income Tax Estimate Voucher

1. Determine The Tax Year: Enter the beginning and ending dates for the tax year being reported. This identifies the period for which the estimate is being calculated.
2. Enter The Federal Employer Identification Number (FEIN): Provide the partnership’s FEIN to uniquely identify the business.
3. Provide Business Name And DBA: Include the legal name of the partnership and any “doing business as” (DBA) names to ensure proper identification.
4. Fill In The Address: Include the full mailing address of the partnership, including city, state, and ZIP+4 code.
5. Record Total Number Of Owners/Partners: Enter the total number of partners whose estimated tax is being reported on this voucher.
6. Calculate Total Partnership Net Gain Or Profit (Line 1): Enter the total net gain or profit of the partnership for the reporting period.
7. Compute 5% Of Net Gain Or Profit (Line 2): Multiply the net gain or profit by 5 percent to determine the estimated tax to remit for all partners combined.

How To Complete The Owner/Partner Section

8. List Owner/Partner Names: For each partner, print their full name clearly in the designated line.
9. Enter FEIN For Each Owner/Partner: Provide the Federal Employer Identification Number if applicable for each partner.
10. Enter Social Security Number (SSN): Record each partner’s SSN to link the payment to their individual tax records.
11. Provide Identification Number: Enter any additional identification numbers required by the partnership records for each partner.
12. Report Ownership Percentage: Enter the percentage of the partnership owned by each partner to correctly allocate estimated tax amounts.
13. Calculate Amount Of Payment For Each Partner: Multiply the partner’s ownership percentage by the total estimated tax from line 2 to determine the payment amount to report for each partner.

Completing Totals And Supplemental Pages

14. Line 14: Total Of Amounts From Lines 3 Through 13: Sum all individual partner payments listed in the previous section and enter the total here.
15. Line 15: Total Amounts From Supplemental Pages: If additional pages are used for more partners, total the amounts from those pages and record it on line 15.
16. Line 16: Total Estimate Payment: Add line 14 and line 15. This total should match the amount entered on line 2 and represents the complete estimated tax payment due.

Officer Or Agent Certification

17. Signature Of Officer/Agent: The responsible officer or agent of the partnership must sign the voucher under penalties of perjury, certifying that all information provided is true, correct, and complete.
18. Provide Title And Date: Enter the officer’s or agent’s title and the date of signing to complete the certification.

Payment Instructions

19. Print FEIN On Check: Ensure that the partnership’s FEIN is written on the check to identify the payment.
20. Make Check Or Money Order Payable To Department Of Revenue: Payment should be made out directly to the Mississippi Department of Revenue. Electronic payment options may also be available, following instructions provided by the state.
21. Mail Voucher And Payment: Send the completed voucher and payment to the Department of Revenue at P.O. Box 23191, Jackson, MS 39225-3191.

Supplemental Pages

22. Enter Additional Partners: If the partnership has more partners than fit on page 1, use supplemental pages to list all remaining partners.
23. Complete All Columns On Supplemental Pages: Include the partner’s name, FEIN, SSN, identification number, ownership percentage, and amount of payment.
24. Subtotal Supplemental Page: Add all amounts listed on the supplemental page and record the total on line 15 of the main form.