Drake Tax - MS - Estimated Tax Voucher

Mississippi requires additional entries to be made on the MSES screen before vouchers may be produced. Go to MS data entry > Other tab > MSES screen and enter an amount on lines 1 and/or 2, as applicable. These fields are direct entry and are required before estimates can be calculated for the MS return.

Every individual taxpayer who does not have at least eighty percent (80%) of their annual tax liability prepaid through withholding must make estimated tax payments if their annual tax liability exceeds two hundred dollars ($200). Estimated tax payments must not be less than 80% of the annual income tax liability. Any taxpayer who fails to file the estimated tax return and pay the tax within the time prescribed or underestimates the required amount shall be liable for interest of one percent (1%) per month on underpayment of tax from the date payment is due until paid.