|
Page 2
<br />
<br /> NC-4 Allowance Worksheet
<br /> NC-4 Part II
<br />1. Enter your total estimated N.C. itemized deductions from Page 3, Schedule 1 ..................................................... 1. _$ .
<br />based on your filing status. { $12,750 if Married Filing Separately
<br />2. Enter the applicable $12,750 if Single
<br />N.C. standard deduction $25,500 if Married Filing Jointly or Surviving Spouse
<br />$19,125 if Head of Household ................................................................ 2. _$ .
<br />3. Subtract Line 2 from Line 1. If Line 1 is less than Line 2, enter ZERO (0) ............................................................ 3. _$ .
<br />4. Enter an estimate of your total N.C. Child Deduction Amount from Page 3, Schedule 2 ....................................... 4. _$ .
<br />5. Enter an estimate of your total federal adjustments to income and State deductions from
<br />federal adjusted gross income................................................................................................................................ 5. _$ .
<br />6. Add Lines 3, 4, and 5.............................................................................................................................................. 6. _$ .
<br />7. Enter an estimate of your nonwage income (such as dividends or interest) ............ 7. $ .
<br />8. Enter an estimate of your State additions to federal adjusted gross
<br />income ................................................................................................................... 8. _$ .
<br />9. Add Lines 7 and 8................................................................................................................................................... 9. _$ .
<br />10. Subtract Line 9 from Line 6 (Do not enter less than zero)..................................................................................... 10. _$ .
<br />11. Divide the amount on Line 10 by $2,500 . Round down to whole number ............................................................ 11.
<br />Ex. $3,900 ÷ $2,500 = 1.56 rounds down to 1
<br />12. Enter the amount of your estimated N.C. tax credits ........................................... 12. _$ .
<br />13. Divide the amount on Line 12 by $122. Round down to whole number ................................................................ 13.
<br />Ex. $200 ÷ $122 = 1.64 rounds down to 1
<br />14. If filing as Single, Head of Household, or Married Filing Separately, enter zero (0) on this line.
<br />If filing as Surviving Spouse, enter 5.
<br />If filing as Married Filing Jointly, enter the appropriate number from either (a), (b), (c), (d), (e), or (f) below.
<br />
<br />(a) Your spouse expects to have combined wages and taxable retirement benefits of less than or equal to $250
<br />for N.C. purposes, enter 5. (Taxable retirement benefits do not include: Bailey, Certain Military Retirement,
<br />Social Security, and Railroad retirement)
<br />(b) Your spouse expects to have combined wages and taxable retirement benefits of more than $250 but less
<br />than or equal to $2,750, enter 4.
<br />(c) Your spouse expects to have combined wages and taxable retirement benefits of more than $2,750 but
<br />less than or equal to $5,250, enter 3.
<br />(d) Your spouse expects to have combined wages and taxable retirement benefits of more than $5,250 but
<br />less than or equal to $7,750, enter 2.
<br />(e) Your spouse expects to have combined wages and taxable retirement benefits of more than $7,750 but
<br />less than or equal to $10,250, enter 1.
<br />(f) Your spouse expects to have combined wages and taxable retirement benefits of more than
<br />$10,250, enter 0...........................................................................................................................................14.
<br />
<br />15. Add Lines 11, 13, and 14, and enter the total here................................................................................................. 15.
<br />
<br />16. If you completed this worksheet on the basis of Married Filing Jointly, the total number of allowances determined
<br />on Line 15 may be split between you and your spouse, however, you choose. Enter the number of allowances
<br />from Line 15 that your spouse plans to claim ......................................................................................................... 16.
<br />
<br />17. Subtract Line 16 from Line 15 and enter the total number of allowances here and on Line 1 of your
<br />Form NC-4, Employee’s Withholding Allowance Certificate ............................................................................ 17.
<br />Surviving Spouse -
<br />1. Will your N.C. itemized deductions from Page 3, Schedule 1 exceed $27,999?
<br />2. Will your N.C. Child Deduction Amount from Page 3, Schedule 2 exceed $2,499?
<br />3. Will you have federal adjustments or State deductions from income?
<br />4. Will you be able to claim any N.C. tax credits or tax credit carryovers?
<br />Yes o
<br />Yes o
<br />Yes o
<br />Yes o
<br />No o
<br />No o
<br />No o
<br />No o
<br />If you answered “No” to all of the above, STOP HERE and enter FIVE (5) as total allowances on Form NC-4, Line 1.
<br />If you answered “Yes” to any of the above, you may choose to go to Part II to determine if you qualify for additional
<br />allowances. Otherwise, enter FIVE (5) on Form NC-4, Line 1.
<br />Docusign Envelope ID: 177AA06A-30B4-42FF-A85A-78B5A7C51DBE
|