Form Ri-2220 - Underpayment Of Estimated Tax By Corporations printable pdf download

Form Ri-2220 - Underpayment Of Estimated Tax By Corporations

State of Rhode Island and Providence Plantations

Form RI-2220

16112699990101

Underpayment of Estimated Tax by Corporations

Name

Federal employer identification number

For the period ending

Part I - How to Figure Your Underpayment

Note: If your prior year tax was $500.00 or less, you do not have to file Form RI-2220. Instead, complete only lines 7 and 8.

2016 tax amount from RI-1120C, line 15, RI-1120S, line 8 or RI-1065, line 8..............................

80% of line 1............................................................................................................................

(a)

(b)

Enter in colums (a) and (b) the installment due dates which are the

15th day of the 3rd month and the 15th day of the sixth month.............

Enter 40% of line 2 in column (a) and 60% of line 2 in column (b)........

Amount paid or credited for each period.....................................................

Overpayment of prior installment................................................................

Add lines 5a and 5b...............................................................................

Underpayment. Subtract line 5c from line 4...........................................

Part II - Exception to the Underpayment Interest

Enter the amount from line 5c, columns (a) and (b)...............................

Exception. Tax on the prior years’s income based on the facts

shown on the prior year’s return, but using the current year’s rates. If

line 8 is equal to or less than line 7, stop here. No interest is due.

Part III - How to Figure the Interest

Enter the amounts from line 6, columns (a) and (b).............................

Underestimated Rate of Interest (See chart on Page 2)........................

Multiply line 9 times line 10...............................................................

Total Underestimated Interest. Add line 11, columns (a) and (b). Carry amount from line 12

to RI-1120C, line 21c, RI-1120S, line 12c or RI-1065, line 12c...............................................

Revised 08/2016

Form Ri-2220 - Underpayment Of Estimated Tax By Corporations