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F-2220

Underpayment of Estimated Tax on Florida

R. 01/17

Corporate Income/Franchise Tax

Rule 12C-1.051

Florida Administrative Code

Effective 01/17

For Tax Year:

Federal Employer Identification Number (FEIN): _______________________________________________

Name: ___________________________________________________________________________________

Beginning _________________

Address: _________________________________________________________________________________

Ending ____________________

City/State/ZIP: ____________________________________________________________________________

1. Total income/franchise tax due for the year (enter from Florida Form F-1120, Line 13)

2. 90% of Line 1

Computation of Underpayments

Due Dates of Installments

Enter in Columns 1 through 4 the installment dates.

(See Installment Dates in the instructions)

(1st)

(2nd)

(3rd)

(4th)

3. Enter 25% of Line 2 in Columns 1 through 4

4. (a) Amount paid for each period

(b) Overpayment credit from prior year

5. Total of Lines 4(a), 4(b), and 4(c)

6. Underpayment (Line 3 less Line 5) or overpayment (Line 5

less Line 3). An overpayment on Line 6 in excess of all prior

underpayments is to be applied as a credit against the next

installment. (See Line 4c)

Exception that avoids penalty and interest

Total cumulative amount paid (or credited) from the beginning of

the taxable year through the installment date indicated.

8(a). Tax on prior year’s income using current year’s rates:

25% of tax

50% of tax

75% of tax

100% of tax

8(b). Cumulative donations made on or after July 1, 2014, to nonprofit

scholarship-funding organizations (SFOs) from the beginning of the

taxable year through the installment date indicated. Certificate of

contribution must be issued on or before installment due date.

8(c). Line 8(a) less Line 8(b). This is the prior year exception adjusted

for the credit for contributions to SFOs per section

(s.) 1002.395(5)(f), Florida Statutes (F.S.)

Check below if the exception applies for each underpaid installment [Line 7 must equal or exceed Line 8(c)]

Attach a schedule showing the computation. If the exception does not apply, complete Lines 9 through 14 to determine the amount of the penalty and interest.

Exception:

1st Installment q

2nd Installment q

3rd Installment q

4th Installment q

Computation of Penalty and Interest

If Line 6 shows an underpayment and the exception does not

apply, compute the underpayment penalty and interest by

Due Dates of Installments

completing the portion(s) of this schedule applicable to the

installments.

(1st)

(2nd)

(3rd)

(4th)

Enter same installment dates used above

9. Amount of underpayment

10. Enter the date of payment or the due date of the

corresponding Florida Corporate Income/Franchise Tax

return, whichever is earlier.

11. Number of days from due date of installment to the dates

shown on Line 10

12. Penalty on underpayment (12% per year on the amount of

Total Penalty

underpayment on Line 9 for the number of days shown on

Line 11)

Total Interest

13. Interest on underpayments. In general, interest will be the

appropriate interest rate on the amount of underpayment on

Line 9 for the number of days shown on Line 11

14. Total of amounts shown on Lines 12 and 13. If this Florida Form F-2220 is being filed with your return, the amounts shown as penalty

and interest should be entered on appropriate line of Florida Form F-1120 ...............................................

Form F-2220 - Underpayment Of Estimated Tax On Florida Corporate Income/franchise Tax

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