· State death tax deduction: 519,399.84 519,399.84: 3b 3c: Taxable estate (line 3a less line 3b) 18,474,883.92: 18,474,883.92 3c: 4 Adjusted taxable gifts: 600,000.00

ILLINOIS DECEDENT SSN: 999-99-9999V D/D: Jul-12-2011

1 Tentative taxable estate shown on return or as previously adjusted 18,994,283.76 12 Increase (decrease) in tentative taxable estate (from line 63, below) 0.00 2

3a Tentative taxable estate as corrected (line 1 plus line 2) 18,994,283.76 3a

Per Return or as Previously Adjusted As Corrected

3b State death tax deduction 519,399.84 519,399.84 3b3c Taxable estate (line 3a less line 3b) 18,474,883.92 18,474,883.92 3c4 Adjusted taxable gifts 600,000.00 600,000.00 45 Total adjusted taxable estate (Line 3c plus Line 4) 19,074,883.92 19,074,883.92 56 Tentative tax 6,657,009.37 6,657,009.37 67 Aggregate gift taxes payable after 1976 0.00 0.00 78 Gross estate tax (Line 6 less Line 7) 6,657,009.37 6,657,009.37 89 Unified credit against estate tax 1,730,800.00 1,730,800.00

10 Adjustment to unified credit 0.00 0.00 1011 Available credit (Line 9 less Line 10) 1,730,800.00 1,730,800.00 1112 Balance (Line 8 less Line 11) 4,926,209.37 4,926,209.37 1213 Credit for state death taxes 0.00 0.00 1314 Amount tentatively allowed NA 1415 Submit evidence by NA 1516 Balance (Line 12 less Line 13) 4,926,209.37 4,926,209.37 1617 Credit for federal gift taxes 0.00 0.00 1718 Credit for foreign death taxes 0.00 0.00 1819 Credit for tax on prior transfers 0.00 0.00 1920 Total credits (add Lines 17, 18, and 19 0.00 0.00 2021 Net estate tax (Line 16 less Line 20) 4,926,209.37 4,926,209.37 2122 Generation-skipping transfer taxes (from Sch R) 0.00 0.00 2223 Total transfer taxes (add Lines 21 and 22) 4,926,209.37 4,926,209.37 2324 Transfer taxes previously reported 4,926,209.37 2425 Net transfer tax - Increase (Decrease) (line 23 less line 24) 0.00 2526 Section 6651(a)(1) Penalties previously reported 0.00 2627 Section 6651(a)(2) Penalties previously reported 0.00 2728 Other penalties assessed 0.00 2829 Total Penalties as corrected 0.00 2930 Net penalties - Increase (Decrease) (line 29 less lines 26, 27, and 28) 0.00 3031 Net tax and penalties payable - Increase (Decrease) 0.00 31

Federal Estate Tax Computation - Scenario 1 - 2nd AD

These figures will not change until another supplemental estate tax return is filed.

05222012 Illinois Scenario 1 - 2nd AD PDF Page 1

ILLINOIS DECEDENT Jul-12-2011

32 Gross estate as reported on return or as previously adjusted 20,000,000.00 3233 Increases (decreases) to gross estate: 3334 Schedule A: Real Estate 0.00 3435 Schedule B: Stocks and Bonds 0.00 3536 Schedule C: Mortgages, Notes, and Cash 0.00 3637 Schedule D: Life Insurance 0.00 3738 Schedule E: Jointly Owned Property 0.00 3839 Schedule F: Other Miscellaneous Property 0.00 3940 Schedule G: Lifetime Transfers 0.00 4041 Schedule H: Powers of Appointment 0.00 4142 Schedule I: Annuities 0.00 0.00 4243 Total Gross Estate 20,000,000.00 4344 Schedule U: Qualified Conservation Easement Exclusion 0.00 0.00 4445 Total Gross Estate Less Exclusion 20,000,000.00 4546 Net changes to gross estate 0.00 4647 Corrected gross estate (line 32 plus line 46) 20,000,000.00 4748 Total allowable deductions as returned or as previously adjusted 1,005,716.24 4849 Increases (decreases) to deductions: 4950 Schedule J: Funeral and Administration Expenses 0.00 5051 Schedule K: Debts of the Decedent 0.00 5152 Schedule K: Mortgages and Liens 0.00 5253 Schedule L: Net Losses 0.00 5354 Schedule M: Marital Deduction 0.00 5455 Schedule O: Charitable Deduction 0.00 5556 Schedule T: Qualified Business Deduction 0.00 5657 Net changes to deductions 0.00 5758 Corrected total deductions (line 48 plus line 57) 1,005,716.24 5859 Corrected taxable estate (line 47 less line 58) 18,994,283.76 5960 6061 Net changes to gross estate 0.00 6162 Net changes to deductions (from line 57) 0.00 6263 Increase (decrease) to taxable estate (line 61 less line 62) 0.00 6364 6465 State death tax deduction as returned or previously adjusted 519,399.84 6566 State death tax deduction as corrected 519,399.84 6667 State death tax paid 519,399.84 6768 Allowable state death tax deduction (lesser of line 66 or line 67) 519,399.84 6869 Adjustment to state death tax deduction - increase (or decrease) (line 68 less line 65) 0.00 69

999-99-9999VAdjustments to Federal Estate Tax Return - Scenario 1 - 2nd AD

Summary of Adjustments to Taxable Estate

State Death Tax Deduction for Dates of Death After 2004


ILLINOIS DECEDENT SSN: D/D: Jul-12-2011

State Death Tax DeductionPer Return or Prior

Adjustment Corrected

1 12 State 1 Illinois Total computed state death tax deduction 2,079,236.81 2,079,236.81 23 State 2 Total computed state death tax deduction 0.00 0.00 34 State 3 Total computed state death tax deduction 0.00 0.00 45 State 4 Total computed state death tax deduction 0.00 0.00 56 State 5 Total computed state death tax deduction 0.00 0.00 67 78 89 9

10 Totals 2,079,236.81 2,079,236.81 1011 Increase or (Decrease) 0.00 1112 Tentatively allowable deduction for state death tax 2,079,236.81 2,079,236.81 12

13 13

14 Per Return or Prior Adjustment Corrected

14

15 1516 State 1 Illinois 518,159.48 518,159.48 1617 State 2 0.00 1718 State 3 0.00 1819 State 4 0.00 1920 State 5 0.00 2021 Totals 518,159.48 518,159.48 2122 2223 2324 Apr-12-2013 1,240.36 1,240.36 2425 2526 2627 2728 2829 2930 3031 3132 3233 3334 3435 3536 3637 3738 Totals 519,399.84 519,399.84 3839 Increase or (Decrease) 0.00 3940 Allowable deduction for state death tax 519,399.84 519,399.84 40

999-99-9999V

Maximum Computed State Death Tax

IRC §2058(b)(2)(B) Limitation of State Death Tax Deduction to the Amount of Tax Paid

State Death Taxes Actually PaidDirect State Death Tax Payments

State interest overpayments credited to state death taxIllinois

The direct state death tax payment remains the same as in the 890 Date report. A supplemental estate tax return will have to be filed to claim any additional state death tax payments as deductions.


RECAPITULATION SSN: Date of Death:Estate of: ILLINOIS DECEDENT 999-99-9999V Jul-12-2011

GROSS ESTATE: Return 890 Date NA1 Schedule A 1,250,000.00 1,250,000.00 1,250,000.00 12 Schedule B 900,000.00 900,000.00 900,000.00 23 Schedule C 2,100,000.00 2,100,000.00 2,100,000.00 34 Schedule D 150,000.00 150,000.00 150,000.00 45 Schedule E 0.00 0.00 0.00 56 Schedule F 14,750,000.00 14,750,000.00 14,750,000.00 67 Schedule G 0.00 0.00 0.00 78 Schedule H 0.00 0.00 0.00 89 Schedule I 850,000.00 850,000.00 850,000.00 9

10 Total Gross Estate 20,000,000.00 20,000,000.00 20,000,000.00 1011 Schedule U exclusion 0.00 0.00 0.00 1112 Gross Estate less exclusion 20,000,000.00 20,000,000.00 20,000,000.00 1213 Increase or (Decrease) 0.00 0.00 1314 DEDUCTIONS: Return 890 Date NA 1415 Schedule J 840,000.00 995,716.24 995,716.24 1516 Schedule K 10,000.00 10,000.00 10,000.00 1617 Schedule K Mortgages 0.00 0.00 0.00 1718 Schedule L 0.00 0.00 0.00 1819 Schedule M 0.00 0.00 0.00 1920 Schedule O 0.00 0.00 0.00 2021 Schedule T 0.00 0.00 0.00 2122 Total Deductions 850,000.00 1,005,716.24 1,005,716.24 2223 Increase or (Decrease) 155,716.24 0.00 2324 TAXABLE ESTATE: Return 890 Date NA 2425 Line 12 less line 22 19,150,000.00 18,994,283.76 18,994,283.76 2526 State death tax deduction 518,159.48 519,399.84 519,399.84 2627 Tentative taxable estate (line 25 less line 26) 18,631,840.52 18,474,883.92 18,474,883.92 2728 Adjusted taxable gifts 600,000.00 600,000.00 600,000.00 2829 Taxable estate (add lines 27 and 28) 19,231,840.52 19,074,883.92 19,074,883.92 2930 Increase or (Decrease) (156,956.60) 0.00 3031 CREDITS: Return 890 Date NA 3132 Tentative tax on line 29 6,711,944.18 6,657,009.37 6,657,009.37 3233 Total tentative tax 6,711,944.18 6,657,009.37 6,657,009.37 3334 Total gift tax payable 0.00 0.00 0.00 3435 Gross estate tax (line 33 less line 34) 6,711,944.18 6,657,009.37 6,657,009.37 3536 Allowable unified credit 1,730,800.00 1,730,800.00 1,730,800.00 3637 Line 35 less line 36 4,981,144.18 4,926,209.37 4,926,209.37 3738 State death tax credit 0.00 0.00 0.00 3839 Credit for gift taxes 0.00 0.00 0.00 3940 Foreign tax credit 0.00 0.00 0.00 4041 Credit for tax on prior transfers 0.00 0.00 0.00 4142 Total Credits (add lines 38, 39, 40, and 41) 0.00 0.00 0.00 4243 Increase or (Decrease) 0.00 0.00 4344 TAXES Return 890 Date NA 4445 Net estate tax (line 35 less line 42) 4,981,144.18 4,926,209.37 4,926,209.37 4546 Increase or (Decrease) (54,934.81) 0.00 4647 GST tax 0.00 0.00 0.00 4748 Total transfer taxes (add lines 45 and 47) 4,981,144.18 4,926,209.37 4,926,209.37 4849 Increase or (Decrease) in total transfer taxes (54,934.81) 0.00 4950 Penalties or Miscellaneous expenses 0.00 0.00 0.00 5051 Increase or (Decrease) in penalties or misc. expenses 0.00 0.00 5152 Tax Assessments 0.00 0.00 0.00 52

Tax Page 305222012 Illinois Scenario 1 - 2nd AD PDF Page 4

RECAPITULATIONEstate of: ILLINOIS DECEDENT

GROSS ESTATE:1 Schedule A2 Schedule B3 Schedule C4 Schedule D5 Schedule E6 Schedule F7 Schedule G8 Schedule H9 Schedule I

10 Total Gross Estate11 Schedule U exclusion12 Gross Estate less exclusion13 Increase or (Decrease)14 DEDUCTIONS:15 Schedule J16 Schedule K17 Schedule K Mortgages18 Schedule L19 Schedule M20 Schedule O21 Schedule T22 Total Deductions23 Increase or (Decrease)24 TAXABLE ESTATE:25 Line 12 less line 2226 State death tax deduction 27 Tentative taxable estate (line 25 less line 26)28 Adjusted taxable gifts29 Taxable estate (add lines 27 and 28)30 Increase or (Decrease)31 CREDITS:32 Tentative tax on line 2933 Total tentative tax34 Total gift tax payable35 Gross estate tax (line 33 less line 34)36 Allowable unified credit37 Line 35 less line 3638 State death tax credit39 Credit for gift taxes40 Foreign tax credit41 Credit for tax on prior transfers42 Total Credits (add lines 38, 39, 40, and 41)43 Increase or (Decrease)44 TAXES45 Net estate tax (line 35 less line 42)46 Increase or (Decrease)47 GST tax48 Total transfer taxes (add lines 45 and 47)49 Increase or (Decrease) in total transfer taxes50 Penalties or Miscellaneous expenses51 Increase or (Decrease) in penalties or misc. expenses52 Tax Assessments

SSN: Date of Death:999-99-9999V Jul-12-2011

NA Previously Reported As Corrected1,250,000.00 1,250,000.00 1,250,000.00 1

900,000.00 900,000.00 900,000.00 22,100,000.00 2,100,000.00 2,100,000.00 3

150,000.00 150,000.00 150,000.00 40.00 0.00 0.00 5

14,750,000.00 14,750,000.00 14,750,000.00 60.00 0.00 0.00 70.00 0.00 0.00 8

850,000.00 850,000.00 850,000.00 920,000,000.00 20,000,000.00 20,000,000.00 10

0.00 0.00 0.00 1120,000,000.00 20,000,000.00 20,000,000.00 12

0.00 0.00 0.00 13NA Previously Reported As Corrected 14

995,716.24 995,716.24 995,716.24 1510,000.00 10,000.00 10,000.00 16

0.00 0.00 0.00 170.00 0.00 0.00 180.00 0.00 0.00 190.00 0.00 0.00 200.00 0.00 0.00 21

1,005,716.24 1,005,716.24 1,005,716.24 220.00 0.00 0.00 23

NA Previously Reported As Corrected 2418,994,283.76 18,994,283.76 18,994,283.76 25

519,399.84 519,399.84 519,399.84 2618,474,883.92 18,474,883.92 18,474,883.92 27

600,000.00 600,000.00 600,000.00 2819,074,883.92 19,074,883.92 19,074,883.92 29

0.00 0.00 0.00 30NA Previously Reported As Corrected 31

6,657,009.37 6,657,009.37 6,657,009.37 326,657,009.37 6,657,009.37 6,657,009.37 33

0.00 0.00 0.00 346,657,009.37 6,657,009.37 6,657,009.37 351,730,800.00 1,730,800.00 1,730,800.00 364,926,209.37 4,926,209.37 4,926,209.37 37

0.00 0.00 0.00 380.00 0.00 0.00 390.00 0.00 0.00 400.00 0.00 0.00 410.00 0.00 0.00 420.00 0.00 0.00 43

NA Previously Reported As Corrected 444,926,209.37 4,926,209.37 4,926,209.37 45

0.00 0.00 0.00 460.00 0.00 0.00 47

4,926,209.37 4,926,209.37 4,926,209.37 480.00 0.00 0.00 490.00 0.00 0.00 500.00 0.00 0.00 510.00 0.00 52

Tax Page 405222012 Illinois Scenario 1 - 2nd AD PDF Page 5

SCHEDULES J, K, AND L BEFORE INTEREST SSN: Date of Death:Estate of: ILLINOIS DECEDENT 999-99-9999V Jul-12-2011

Schedule J Return 890 Date NA1 A Funeral expenses 50,000.00 50,000.00 50,000.00 12 B-1 Executor commissions 300,000.00 300,000.00 300,000.00 23 B-2 Attorney fees 250,000.00 250,000.00 250,000.00 34 B-3 Accountant Fees 50,000.00 50,000.00 50,000.00 45 B-4 Miscellaneous expenses: 56 Total reported misc. expenses before interest 190,000.00 190,000.00 190,000.00 67 Interest on Illinois estate tax 0.00 155,716.24 155,716.24 78 0.00 0.00 0.00 89 0.00 0.00 0.00 9

10 0.00 0.00 0.00 1011 0.00 0.00 0.00 1112 0.00 0.00 0.00 1213 0.00 0.00 0.00 1314 0.00 0.00 0.00 1415 0.00 0.00 0.00 1516 0.00 0.00 0.00 1617 0.00 0.00 0.00 1718 0.00 0.00 0.00 1819 0.00 0.00 0.00 1920 0.00 0.00 0.00 2021 Totals 840,000.00 995,716.24 995,716.24 2122 Net increase or (decrease) 155,716.24 0.00 22

23 Schedule K Debts of Decedent: Return 890 Date NA 23

24 1 Total reported 10,000.00 10,000.00 10,000.00 2425 0.00 0.00 0.00 2526 0.00 0.00 0.00 2627 0.00 0.00 0.00 2728 0.00 0.00 0.00 2829 Subtotals 10,000.00 10,000.00 10,000.00 2930 Schedule K Mortgages: 3031 1 Total reported 0.00 0.00 0.00 3132 0.00 0.00 0.00 3233 0.00 0.00 0.00 3334 0.00 0.00 0.00 3435 0.00 0.00 0.00 3536 Subtotals 0.00 0.00 0.00 3637 Schedule K Totals 10,000.00 10,000.00 10,000.00 3738 Net increase or (decrease) 0.00 0.00 38

39 Schedule L Return 890 Date NA 39

40 1 Total reported 0.00 0.00 0.00 4041 0.00 0.00 0.00 4142 0.00 0.00 0.00 4243 0.00 0.00 0.00 4344 Totals 0.00 0.00 0.00 4445 Net increase or (decrease) 0.00 0.00 4546 Schedules J, K, and L Totals 850,000.00 1,005,716.24 1,005,716.24 4647 Total J, K, & L Increase or (Decrease) 155,716.24 0.00 4748 Less: Schedules J, K, and L Without Interest 850,000.00 850,000.00 850,000.00 4849 Interest deduction on Schedule J (line 46 less line 48) 0.00 155,716.24 155,716.24 49

Tax Page 6

The total of Schedules J, K, and L Before Interest is used in the section 6166(b)(6) adjusted gross estate computation.


SCHEDULES J, K, AND L BEFORE INTERESTEstate of: ILLINOIS DECEDENT

Schedule J1 A Funeral expenses2 B-1 Executor commissions3 B-2 Attorney fees 4 B-3 Accountant Fees 5 B-4 Miscellaneous expenses:6 Total reported misc. expenses before interest7 Interest on Illinois estate tax89

101112131415161718192021 Totals22 Net increase or (decrease)

23 Schedule K Debts of Decedent:24 1 Total reported2526272829 Subtotals30 Schedule K Mortgages:31 1 Total reported3233343536 Subtotals37 Schedule K Totals38 Net increase or (decrease)

39 Schedule L40 1 Total reported41424344 Totals45 Net increase or (decrease)46 Schedules J, K, and L Totals47 Total J, K, & L Increase or (Decrease)48 Less: Schedules J, K, and L Without Interest49 Interest deduction on Schedule J (line 46 less line 48)

The total of Schedules J, K, and L Before Interest is used in the section 6166(b)(6) adjusted gross estate computation.

SSN: Date of Death:999-99-9999V Jul-12-2011

NA CorrectedSchedule J Before

Interest50,000.00 50,000.00 50,000.00 1

300,000.00 300,000.00 300,000.00 2250,000.00 250,000.00 250,000.00 350,000.00 50,000.00 50,000.00 4

5190,000.00 190,000.00 190,000.00 6155,716.24 155,716.24 0.00 7

0.00 0.00 0.00 80.00 0.00 0.00 90.00 0.00 0.00 100.00 0.00 0.00 110.00 0.00 0.00 120.00 0.00 0.00 130.00 0.00 0.00 140.00 0.00 0.00 150.00 0.00 0.00 160.00 0.00 0.00 170.00 0.00 0.00 180.00 0.00 0.00 190.00 0.00 0.00 20

995,716.24 995,716.24 840,000.00 210.00 0.00 (155,716.24) 22

NA CorrectedSchedule K Before

Interest 23

10,000.00 10,000.00 10,000.00 240.00 0.00 0.00 250.00 0.00 0.00 260.00 0.00 0.00 270.00 0.00 0.00 28

10,000.00 10,000.00 10,000.00 2930

0.00 0.00 0.00 310.00 0.00 0.00 320.00 0.00 0.00 330.00 0.00 0.00 340.00 0.00 0.00 350.00 0.00 0.00 36

10,000.00 10,000.00 10,000.00 370.00 0.00 0.00 38

NA CorrectedSchedule L Before

Interest 39

0.00 0.00 0.00 400.00 0.00 0.00 410.00 0.00 0.00 420.00 0.00 0.00 430.00 0.00 0.00 440.00 0.00 0.00 45

1,005,716.24 1,005,716.24 850,000.00 460.00 0.00 (155,716.24) 47

850,000.00 850,000.00 48155,716.24 155,716.24 49


ILLINOIS DECEDENT SSN: D/D: Jul-12-2011

1 Corrected gross estate 20,000,000.00 12 Less: Corrected Schedule J (before interest) 840,000.00 23 Corrected Schedule K - Debts 10,000.00 34 Corrected Schedule K - Mortgages 0.00 45 Corrected Schedule L 0.00 56 67 Deductible interest accrued from the return due date through the 78 date the Federal estate tax return was filed: 89 a Deductible interest on Federal estate tax 0.00 9

10 b Interest on Illinois estate tax 0.00 1011 c 1112 d 1213 e 1314 f 1415 1516 Other deductible interest accrued on the 706 filing date 1617 Less: Additional Schedule J expenses that were paid after the 1718 706 was filed, which are deductible on Schedule J but which 1819 were not incurred or accrued by the date on which the Federal 1920 estate tax return was filed. 0.00 2021 Total corrected reductions to the gross estate per section 6166(b)(6) 850,000.00 850,000.00 2122 Section 6166(b)(6) Adjusted Gross Estate 19,150,000.00 22

`

999-99-9999V

Computation of Section 6166(b)(6) Adjusted Gross Estate:

This is the Federal section 6166(b)(6) computation, for Federal estate tax purposes only. There has been no change in the asset values resulting from the supplemental estate tax return, and the deduction for Illinois interest does not meet the criteria for inclusion in the section 6166(b)(6) adjusted gross estate computation. The deferral percentage shown on Line 5 of Form 4349 (see the next page) is not the same as that which is determined for Illinois section 6166 deferral purposes on Illinois Form 4350a. The amount on line 22, above, is carried to Line 2b on Form 4349 (next page) in determining the amount of Federal estate tax deferred under section 6166.


Computation of Estate Tax Date of Death Installment Due Date

Due With Return and Annual Installment Apr-12-2017(As provided by the Limitations under Sections 6166 or 6166A of the Taxpayer Identification NumberInternal Revenue Code) 999-99-9999VEstate of:

ILLINOIS DECEDENT

Additional Tax Deferred portion Nondeferred portion0.00 0.00

Estate tax return Request for installment privileges Audit action completedSelected for audit Accepted YesNot selected for audit Rejected No

Line Item Amount

1. Value of decedent's interest in closely held business $ 14,500,000.00

Name of business

2. a. Total gross estate (IRC 6166A - 10 year election) NA

b. Adjusted gross estate (IRC 6166 - 10 or 15 year election) 19,150,000.00

3. Ratio of Line 1 to Line 2a or 2b (Divide Line 1 by Line 2a or 2b) 0.757180

4. Net estate tax as corrected (Form 706) 4,926,209.37

5. 75.7180% of Line 4 (Line 3 x Line 4 or smaller amount elected by estate ) 3,716,687.94

6. Line 4 less Line 5 1,209,521.43

7. 10 % of Line 5 (If estate elects fewer than 10 installments, adjust % accordingly) 371,668.79

8. a. Due with return - 10 year election (Line 6 + Line 7) 0.00

b. Due with return - 15 year election (Line 6) 1,209,521.43

9. Annual installment (Line 7) 371,668.79

Form 4349 (Rev. 5-93) [cg] Department of the TreasuryCatalogue No. 41572T Internal Revenue Service

Jul-12-2011

0.00

X X

These figures are unchanged from those in the 890 Date change report.


Name: ILLINOIS DECEDENT SSN: 999-99-9999V

Date of Death: Jul-12-2011

1Tentative taxable estate from line 3a, Form 706 18,994,283.76

1

2

0.00

2

3

18,994,283.76

3

4Adjusted taxable gifts from line 4, Form 706 600,000.00

4

5Illinois Tentative Taxable Estate (add line 3 and line 4) 19,594,283.76

5

62,160,246.04

6

719,250,000.00

7

820,000,000.00

8

9Percent of estate having taxable situs in Illinois (line 7 divided by line 8) 96.25%

9

102,079,236.81

10

Gross value of decedent's estate for Federal Estate Tax purposes wherever located

Amount of tax attributable to Illinois (line 6 multiplied by line 9. Also enter on line 1 in the Recapitulation.)

ILLINOIS ESTATE TAX RETURN

Schedule A - Resident Decedent's Estate

Illinois QTIP election (additional amount in excess of Federal QTIP included in line 2, Form 706, from this estate or from the previous QTIP election in the Spouse's estate)

Illinois tentative taxable estate (line 1 minus line 2 if the QTIP was elected in this estate, or line 1 plus line 2 if the QTIP was previously elected in the Spouse's estate)

Full amount computed for Illinois Estate Tax from website calculator before apportionment

Gross value for Federal Estate Tax purposes of decedent's estate having taxable situs in Illinois

Line 1 is carried directly from line 3a on Federal Form 706. Cincinnati's computation in response to the supplemental return has changed this number. The line 6 amount is computed on the amount shown on line 3a, Form 706, as changed. State death tax credit (and Illinois tax) is not computed on the line 4 adjusted taxable gifts. The line 7 amount is the Federal gross estate less the gross value of all property having taxable situs outside Illinois, if any. In this example, $750,000 of real estate reported on Schedule A of the Federal estate tax return is situated outside Illinois in another state. This value did not change. The reduced line 10 tax is carried to Illinois Form 4350a, below, which is the form for calculating the amount of Illinois tax deferred under section 6166.




1 Tentative taxable estate from Federal return, or other equivalent form 0.00 1

2 0.00 2

3 0.00 3

4 0.00 4

5 Illinois Tentative Taxable Estate (add line 3 and line 4) 0.00 5

6 0.00 6

7 0.00 7

8 0.00 8

9 Percent of estate having taxable situs in Illinois (line 7 divided by line 8) 0.00% 9

10 0.00 10

Gross value for Federal Estate Tax purposes of decedent's estate having taxable situs in Illinois

Gross value of decedent's estate for Federal Estate Tax purposes wherever located

Amount of tax attributable to Illinois (line 6 multiplied by line 9. Also enter on line 1 in the Recapitulation.)


Schedule B - Non-Resident or Alien Decedent's Estate

Illinois QTIP election (additional amount in excess of Federal QTIP included in line 2, Form 706, from this estate or from the previous QTIP election in the Spouse's estate)

Illinois tentative taxable estate (line 1 minus line 2 if the QTIP was elected in this estate, or line 1 plus line 2 if the QTIP was previously elected in the Spouse's estate)

Adjusted taxable gifts (line 4, Form 706, or any other form containing the same information)

Full amount computed for Illinois Estate Tax from website calculator before apportionment (Lines 3 and 5 from this form 700 and applied to website calculator for iunterrelated computation)




1 Amount of tax payable to Illinois (Schedule A line 10 or Schedule B line 10) 2,079,236.81 1

2 0.00 2

3 0.00 3

4 Interest at 10% per annum from 9 months after death until date of payment 0.00 4

5 Total Tax, Penalties and interest payable (Total of lines 1, 2, 3, and 4) 2,079,236.81 5

6 0.00 6

7 2,079,236.81 7

The estate elects to pay $1,561,077.33 of line 1 in installments under 35 ILCS 405/6 8

(supply proof of acceptance by Internal Revenue Service when available of Sec. 6166 election and file IL-4350a)

Balance due (line 5 minus line 6)


RECAPITULATION

Late filing penalty (5% of tax for each month or portion thereof - maximum penalty 25%)

Late payment penalty (1/2 of 1% of tax for each month or portion thereof - maximum penalty 25%)

Prior payment (attach explanation)

The Illinois estate tax and tax deferred under section 6166 have been reduced as a result of the changes made in response to the supplemental returns filed with IRS and Illinois.


Estate of: ILLINOIS DECEDENT Date of Death: Jul-12-2011

Deferred Portion

1,561,077.33

114,500,000.00$

1

2 19,250,000.00 2

3 Ratio of line 1 to line 2 (divide line 1 by line 2) 0.7532 3

4 Total tax payable to Illinois 2,079,236.81 4

575.3247%

1,561,077.33 5

6518,159.48

6

7 6% of line 5 (interest payment for first 4 years) 93,664.64$ 7

Gross value of decedent's estate having a taxable situs in Illinois

of line 4 (line 3 times line 4 or smaller amount of qualified portion elected by estate)

Line 4 less line 5 (Non-deferred portion of tax due within 9 months of death.)

ILLINOIS FORM 4350a

Total Tax Non-Deferred Portion (Due in 9 months)

2,079,236.81 518,159.48

Gross value of decedent's interest in closely held business having taxable situs in Illinois

It is assumed that Illinois will follow the Federal methodology and will apply the computed filing date overpayment of non-deferred tax of $5,101.05 against the maximum amount of tax eligible for deferral, or $1,566,178.38, to yield a reduced tax actually deferred of $1,561,077.33. In addition, the interest overpayment on April 12, 2013 of $1,240.36 will be applied against the deferred tax on that date, which in turn will increase the state death tax deduction on the Federal return by the same amount. See the Illinois Interest Computation page, below. Note that line 6 represents the return filing date payment of non-deferred tax, while the subsequent interest overpayment credit applied to deferred tax is not reflected on line 6. However, the April 12, 2013 interest overpayment does reduce the balance on which future interest is computed so that the interest payable on April 12, 2014 becomes $93,590.22, which is less than the amount shown on line 7, above.




1 18,994,283.76 Illinois tentative taxable estate 1

2 60,000.00 Illlinois adjustment 2

3 18,934,283.76 Tentative amount for Illinois tax table computation 3

4 2,160,246.04 Less: Illinois tax from line 8, below 4

5 16,774,037.72 Amount for Illinois tax table computation 5

6 6

7 16,774,037.72 Amount for Illinois tax table computation, from line 5 7

8 2,160,246.04 Tax from Illinois Tax Table, to line 4 8

9 9

10 16,774,037.72 Amount from line 5 10

11 10,040,000.00 Less: Bracket base amount from Illinois tax table 11

12 6,734,037.72 Excess above base amount 12

13 16.0% Times: Rate on excess from Illinois tax table 13

14 1,077,446.04 Tax on excess above base amount 14

15 1,082,800.00 Plus tax on bracket base amount from Illinois tax table 15

16 2,160,246.04 Total computed Illinois tax on line 5 amount 16

17 17

18Minimum Bracket Base

AmountMaximum Bracket

Amount Tax on Base AmountTax Rate on Excess Above Base Amount 18

19 40,000 90,000 0 0.8% 19

20 90,000 140,000 400 1.6% 20

21 140,000 240,000 1,200 2.4% 21

22 240,000 440,000 3,600 3.2% 22

23 440,000 640,000 10,000 4.0% 23

24 640,000 840,000 18,000 4.8% 24

25 840,000 1,040,000 27,600 5.6% 25

26 1,040,000 1,540,000 38,800 6.4% 26

27 1,540,000 2,040,000 70,800 7.2% 27

28 2,040,000 2,540,000 106,800 8.0% 28

29 2,540,000 3,040,000 146,800 8.8% 29

30 3,040,000 3,540,000 190,800 9.6% 30

31 3,540,000 4,040,000 238,800 10.4% 31

32 4,040,000 5,040,000 290,800 11.2% 32

33 5,040,000 6,040,000 402,800 12.0% 33

34 6,040,000 7,040,000 522,800 12.8% 34

35 7,040,000 8,040,000 650,800 13.6% 35

36 8,040,000 9,040,000 786,800 14.4% 36

37 9,040,000 10,040,000 930,800 15.2% 37

38 10,040,000 ------------------ 1,082,800 16.0% 38

ILLINOIS TAX TABLE AND CALCULATOR

ILLINOIS TAX (FEDERAL STATE DEATH TAX CREDIT) COMPUTATION

Computation of the line 8 amount

ILLINOIS TAX (FEDERAL STATE DEATH TAX CREDIT) TABLE


Estate of: ILLINOIS DECEDENT SSN: 999-99-9999V D/D: Jul-12-2011

1 1

2 4,926,209.37 Federal estate tax due 2

3 3,730,027.21 Less: Maximum tax eligible for deferral under section 6166 3

4 1,196,182.16 Balance of tax not deferred under section 6166 and due on return due date 4

5 Interest Rates Beginning Total Due Interest Factor Interest Due Total Amount Due Payment Balance Due

Forward Overpayment 5

6 Return filing date 67 Deferred @ 2% 476,000.00 0.000000000 0.00 476,000.00 0.00 476,000.00 0.00 78 Def @ 45% of R% 3,254,027.21 0.000000000 0.00 3,254,027.21 0.00 3,254,027.21 0.00 89 Non-def @ R% 1,196,182.16 0.000000000 0.00 1,196,182.16 1,209,521.43 0.00 13,339.27 9

10 First Annniversary Date 1011 Deferred @ 2% 476,000.00 0.020160614 9,596.45 485,596.45 9,596.45 476,000.00 0.00 1112 Def @ 45% of R% 3,240,687.94 0.013564345 43,957.81 3,284,645.75 44,702.96 3,240,687.94 745.15 1213 Non-def @ R% 0.00 0.030392410 0.00 0.00 0.00 0.00 0.00 1314 890 Waiver Date 1415 Deferred @ 2% 475,904.57 0.013348213 6,352.48 482,257.05 0.00 482,257.05 0.00 1516 Def @ 45% of R% 3,240,038.22 0.008990695 29,130.20 3,269,168.42 0.00 3,269,168.42 0.00 1617 Non-def @ R% 0.00 0.020088709 0.00 0.00 0.00 0.00 0.00 1718 Second Annniversary Date 1819 Deferred @ 2% 482,257.05 0.006762303 3,261.17 485,518.22 9,613.65 475,904.57 0.00 1920 Def @ 45% of R% 3,269,168.42 0.004559594 14,906.08 3,284,074.50 44,036.28 3,240,038.22 0.00 2021 Non-def @ R% 0.00 0.010160443 0.00 0.00 0.00 0.00 0.00 2122 2223 2324 2425 2526 2627 2728 2829 2930 Total Federal interest 107,204.19 Deductible Federal interest 0.00 30

Interest on Federal Estate Tax

Apr-12-2012

Apr-12-2013

Dec-10-2013

Apr-12-2014


Estate of: ILLINOIS DECEDENT SSN: 999-99-9999V D/D: Jul-12-2011

1 1

2 2,079,236.81 Illinois estate tax due 2

3 1,566,178.38 Less: Tax deferred under section 6166 3

4 513,058.43 Balance of tax not deferred under section 6166 and due on return due date 4

5 Interest Rates Beginning Tax Due Interest Factor Interest Due Total Amount Due Payment Balance Due Forward Overpayment 5

6 Return filing date 67 Deferred @ 6% 1,566,178.38 0.000000000 0.00 1,566,178.38 0.00 1,566,178.38 0.00 78 Non-def @ 10% 513,058.43 0.000000000 0.00 513,058.43 518,159.48 0.00 5,101.05 89 First Annniversary Date 9

10 Deferred @ 6% 1,561,077.33 0.060000000 93,664.64 1,654,741.97 94,905.00 1,559,836.97 1,240.36 1011 Non-def @ 10% 0.00 0.100000000 0.00 0.00 0.00 0.00 0.00 1112 890 Waiver Date 1213 Deferred @ 6% 1,559,836.97 0.039780821 62,051.60 1,621,888.57 0.00 1,621,888.57 0.00 1314 Non-def @ 10% 0.00 0.066301369 0.00 0.00 0.00 0.00 0.00 1415 Second Annniversary Date 1516 Deferred @ 6% 1,559,836.97 0.020219178 31,538.62 1,653,427.19 93,590.22 1,559,836.97 0.00 1617 Non-def @ 10% 0.00 0.033698630 0.00 0.00 0.00 0.00 0.00 1718 1819 1920 2021 2122 2223 2324 2425 2526 2627 2728 2829 2930 Total Illinois interest 187,254.86 Deductible Illlinois interest 155,716.24 30

Interest on Illinois Estate Tax

Apr-12-2012

Apr-12-2013

Dec-10-2013

Apr-12-2014


Estate of: ILLINOIS DECEDENT Scenario1 - 890Date, DD: 7 12 2011File Name: C:\Users\NMB\Documents\My Dropbox\STATE TAXES\Illinois\Illinois Full Comp Examples\Scenario 1\Illinois ET3 Scenario1 - 2ndAD.ET3Memorandum: IRS Computation from Supplemental Return FilingInter-Est Version 3.00, Release 127e, (Standard Output)Date and time of run: Friday, April 27, 2012, 01:03 PMInflation factor used for this computation 136.0000000 %

MAIN PRINTOUT SECTIONGross Estate 20,000,000.00 Debts & Expenses 1,005,716.24 Marital Deduction 0.00 Charitable Deduction 0.00 Fixed SDTD 519,399.84 Computed SDTD 0.00 State Death Tax Deduction 519,399.84 Total Deductions 1,525,116.08 Taxable Estate 18,474,883.92 Adjusted Taxable Gifts 600,000.00 Total Amount Drawing Tax 19,074,883.92 Tentative Tax 6,657,009.37 Aggregate Gift Tax Payable 0.00 Tax before Unified Credit 6,657,009.37 Basic Unified Credit 1,730,800.00 Unused Unified Credit - Spouse 0.00 Unified Credit from Table 1,730,800.00 Adjustment to Unified Credit 0.00 Net Unified Credit 1,730,800.00 Tax before SDTC 4,926,209.37 State Death Tax Credit 0.00 Net Tax after State Death Tax Credit 4,926,209.37 Gift Tax Credit 0.00 Foreign Death Tax Credit (Statutory) 0.00 Prior Transfer Credit 0.00 Foreign Death Tax Credit (Treaty) 0.00 Total Credits 0.00 Estate Tax 4,926,209.37 Generation Skipping Transfer Tax 0.00 Total Federal Tax 4,926,209.37

FEDERAL INTEREST OPTION SELECTEDInterest Table File: C:\Program Files (x86)\EST3\Federal.IT4Interest Table Description: Federal (RProc 95-17)(3/09)Special Interest Rate Used (old): 4.0000000 %Special Interest Rate Used (new): 2.0000000 %INTEREST FACTORS USED

Regular (100%) Special (old) Refund Pd # 1 c 3.0392410 % 4.0726543 % 3.0392410 %Pd # 2 c 2.0088709 % 2.6873855 % 2.0088709 %Pd # 3 c 1.0160443 % 1.3569960 % 1.0160443 %

Regular (45%) Special (new)Pd # 1 c 1.3564345 % 2.0160614 %Pd # 2 c 0.8990695 % 1.3348213 %Pd # 3 c 0.4559594 % 0.6762303 % Sec. 6166 Installment Option Elected Closely Held Business Amount 14,500,000.00 Fed. Gross Estate 20,000,000.00 JK&L before Int. <1,005,716.24>


Estate of: ILLINOIS DECEDENT Scenario1 - 890Date, DD: 7 12 2011 Page 2

JK&L Not Used 155,716.24 Adjusted Gross Estate (6166) 19,150,000.00 Qualifying Percentage 75.7180000 % Number of Regular Tax Payments 10 Years Installment Tax Payments Delayed 5 Total Qualified Tax 3,730,027.21 Tax Qualified for Special Rate 476,000.00 Other Qualified Tax 3,254,027.21 Tax Not Qualified 1,196,182.16 Qualified Tax which was Extended 3,716,687.94 PART 1

Date Tax Pmt. Int. Pmt. Due Date 4 12 2012 1,209,521.43 0.00 Da PPd # 1 4 12 2013 0.00 54,299.42 BaPd # 2 12 10 2013 0.00 0.00 AbPd # 3 4 12 2014 -------------- -------------- Ba Sec. 6166 Flags First Flag, Principal Allocation: A = Deficiency or Interim Payment with Normal Allocation B = Installment Date with Only Interest Payment Due C = Installment Date with Tax Payment and Interest Payment Due D = Payment on or Before Date Return was Filed E = All tax moved to Non-Qualified (Election Terminated) Second Flag, Interest Allocation: a = Balance moved to Non-Qualified (Installment Date or Termination) b = Allocate to All Interest Equally (Deficiency Pmt, Extra Pmt) c = Allocate to Non-Qualified then Qualified (Special Direction) d = Allocate to Non-Qua. then, Reg. Qua. then 4% Qua. (Special Dir.) e = Allocate to Amounts drawing Regular Rate First (Special Direction) SA = Special Allocation: Non-Qua. Tax, then Interest, then Qual. Tax All = All qualified tax draws interest at the same rate as the other qualified tax.P = Period entry for Interest on Penalty Computation PART 2

Starting Tax Interest Applied Balance Paid Balance To Balance

Due Date 4,926,209.37 1,209,521.43 0.00 1,209,521.43 Pd # 1 3,716,687.94 0.00 <745.16> 745.16 Pd # 2 3,715,942.78 0.00 35,482.67 0.00 Pd # 3 3,715,942.78 0.00 53,649.92 0.00 PART 3

Interest Total Amount Interest Drawing Int. Drawing Int. Factor Interest

Period # 1 Qua. (4%) 0.00 476,000.00 2.0160614 % 9,596.45 Oth. Qua 0.00 3,240,687.94 1.3564345 % 43,957.81 Non-Qua. 0.00 0.00 3.0392410 % 0.00 Period # 2 Qua. (4%) 0.00 475,904.57 1.3348213 % 6,352.48 Oth. Qua 0.00 3,240,038.21 0.8990695 % 29,130.20 Non-Qua. 0.00 0.00 2.0088709 % 0.00 Period # 3 Qua. (4%) 6,352.48 482,257.04 0.6762303 % 3,261.17 Oth. Qua 29,130.20 3,269,168.41 0.4559594 % 14,906.08 Non-Qua. 0.00 0.00 1.0160443 % 0.00 Total Accrued Interest 107,204.18


Estate of: ILLINOIS DECEDENT Scenario1 - 890Date, DD: 7 12 2011 Page 3

Total Interest Deduction 0.00 LAST LINE OF PRINTOUT


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2011 Decedents Estate Tax Calculator

Illinois TentativeTaxable Estate

Illinois TentativeTaxable Estate

Plus Adjusted TaxableGifts

The original taxable estate is $18,994,284 and the final result is$2,160,246

TRIAL 1

$18,994,284 Tentative Taxable Estate

-$60,000.00 Adjustment

$18,934,284 Amount For Table

$10,040,000 Bracket Amount

$8,894,284 Amount Above Bracket

16.0 % Rate Above Bracket

$1,423,085 Result Above Bracket

$1,082,800 Tax On Bracket

$2,505,885 Result

TRIAL 2









$2,104,944 Result

TRIAL 3









$2,169,094 Result

TRIAL 4



2011 Decedents Estate Tax Calculator http://www.illinoisattorneygeneral.gov/publications/calculator/calculator...

1 of 3 4/24/2012 1:52 PM








$2,158,830 Result

TRIAL 5









$2,160,473 Result

TRIAL 6









$2,160,210 Result

TRIAL 7









$2,160,252 Result

TRIAL 8









$2,160,245 Result

TRIAL 9








2 of 3 4/24/2012 1:52 PM




$2,160,246 Result

TRIAL 10









$2,160,246 Result


3 of 3 4/24/2012 1:52 PM
