Californiaform 5805 - Underpayment Of Estimated Tax By Individuals And Fiduciaries - 2006 Page 3

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the actual penalty amount by applying the rate

Example: You had an underpayment for the

applicable column on the worksheet. However, if

against the underpayment for the number of days

April 15th installment of $500. The June 15th

the payment reduced the underpayment to zero,

it remained unpaid.

installment required a payment of $1,200. On

there are no further computations to make for

June 10th, you sent in a payment of $1,200 to

that column. In that case, you count the number

Maximum days in a rate period per quarter:

cover the June 15th installment. However, $500 of

of days from the installment due date to the date

this payment is considered to be for the April 15th

paid.

Installment

Days in Rate

installment. The penalty for the April 15th

If a subsequent payment does not reduce the

Period

Period 3

installment is figured to June 10th. The amount

underpayment to zero, you will need to make an

of the payment to be applied to the June 15th

184

105

additional computation in the column.

installment is $700.

184

105

• First, count the number of days from the due

Subsequent Payments. For purposes of

date to the date paid and use the underpay-

107

105

computing the penalty, it may be helpful to make

ment amount from Worksheet II, line 8.

a list of any payments that you made after the

• Second, count the number of days from the

timely payments entered in Part I, line 2. If you

payment date to the end of the rate period,

Payment Application. Your payments are applied

made no other payments, follow the line-by-line

to any underpayment balance on an earlier

and subtract the amount of the subsequent

instructions for Part II.

payment from the underpayment amount from

installment. It does not matter if you designate a

If you made subsequent payments, you may

Worksheet II, line 8.

payment for a later period.

need to make additional computations for the

• Third, apply the rate for the applicable period.

Worksheet II Regular Method to Figure Your Underpayment and Penalty.

Payment Due Dates

Part I Figure Your Underpayment

(a)

(b)

(c)

(d)

4/5/06

6/5/06

9/5/06

/5/07

Required Installments. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Estimated tax paid and tax withheld. See instructions. For column (a) only,

also enter the amount from line 2 on line 6. (If line 2 is equal to or more than

line 1 for all payment periods, stop here; you do not owe the penalty. Do not

file form FTB 5805 unless you answer “Yes’’ to a question in Part I). . . . . . . . . . . . . . .

COMPLETE LINE 3 THROUGH LINE 9 OF ONE COLUMN BEFORE GOING TO THE

NEXT COLUMN.

3 Enter amount, if any, from line 9 of previous column . . . . . . . . . . . . . . . . . . . . . . . . . .

4 Add line 2 and line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5 Add amounts on line 7 and line 8 of the previous column . . . . . . . . . . . . . . . . . . . . . . .

6 Subtract line 5 from line 4. If zero or less, enter -0-. For column (a) only,

enter the amount from line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7 If the amount on line 6 is zero, subtract line 4 from line 5. Otherwise, enter -0- . . . . . .

8 Underpayment. If line 1 is equal to or more than line 6, subtract line 6 from

line 1. Then go to line 3 of next column. Otherwise, go to line 9 . . . . . . . . . . . . . . . . 

9 Overpayment. If line 6 is more than line 1, subtract line 1 from line 6.

Then go to line 3 of next column . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Part II Figure the Penalty. Complete line 10 through line 15 of one column before going to the next column.

Rate Period :

4/5/06

6/5/06

April 5, 006 — June 30, 006

Days:

0 Number of days from the date shown above line 10 to the date the

amount on line 8 was paid or 06/30/06, whichever is earlier . . . . . . . . . . . . . . . . . . . .

Underpayment

Number of

on line 8

days on line 10

.06

(see instructions)

365

 $

Rate Period :

7/0/06

9/5/06

July , 006 — December 3, 006

Days:

Number of days from the date shown above line 12 to the date the

amount on line 8 was paid or 12/31/06, whichever is earlier . . . . . . . . . . . . . . . . . . . .

Underpayment

Number of

on line 8

days on line 12

.07

 3 $

(see instructions)

365

Rate Period 3:

/0/07

/5/07

January , 007 — April 5, 007

Days:

4 Number of days from the date shown above line 14 to the date the

amount on line 8 was paid or 04/15/07, whichever is earlier . . . . . . . . . . . . . . . . . . . .

Underpayment

Number of

on line 8

days on line 14

.08

(see instructions)

365

 5 $

6 PENALTY. Add all amounts on line 11, line 13, and line 15 in all columns. Enter the total here, on form FTB 5805, Side 1,

Part II, line 13, and on Form 540, line 67; Form 540A, line 40; Long Form 540NR, line 73; or Form 541, line 42.

Also be sure to fill in the circle on that line . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6 $

Page 4 FTB 5805 Instructions 2006