Arizona Form 220 - Underpayment Of Estimated Tax By Corporations - 2004 Page 2
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4AZ Form 220 (2004) Page 2
Part C - Penalty Calculation
(a)
(b)
(c)
(d)
17 Forms 120 and 120A: Enter the date of payment or the 15th day
of the 4th month after the close of the taxable year, whichever is
earlier. Form 120S: Use 3rd month instead of 4th month.
Form 99T: Use 5th month instead of 4th month...................................
17
18 Number of days from due date of installment on line 7 to the
date shown on line 17...........................................................................
18
19 Number of days on line 18 after 4/15/2004 and before 7/1/2004 .........
19
20 Underpayment on line 15
x Number of days on line 19 x 5%
$
$
$
$
366
...................
20
21 Number of days on line 18 after 6/30/2004 and before 10/1/2004 .......
21
22 Underpayment on line 15
x Number of days on line 21 x 4%
$
$
$
$
366
...................
22
23 Number of days on line 18 after 9/30/2004 and before 1/1/2005 .........
23
24 Underpayment on line 15
x Number of days on line 23 x 4%
$
$
$
$
366
..............
24
25 Number of days on line 18 after 12/31/2004 and before 4/1/2005 .......
25
26 Underpayment on line 15
x Number of days on line 25 x *%
$
$
$
$
+ compounding, if applicable
365
..............
26
27 Number of days on line 18 after 3/31/2005 and before 7/1/2005 .........
27
28 Underpayment on line 15
x Number of days on line 27 x *%
$
$
$
$
+ compounding, if applicable
365
..............
28
29 Number of days on line 18 after 6/30/2005 and before 10/1/2005 .......
29
30 Underpayment on line 15
x Number of days on line 29 x *%
$
$
$
$
+ compounding, if applicable
365
..............
30
31 Number of days on line 18 after 9/30/2005 and before 1/1/2006 .........
31
32 Underpayment on line 15
x Number of days on line 31 x *%
$
$
$
$
+ compounding, if applicable
365
..............
32
33 Number of days on line 18 after 12/31/2005 and before 3/15/2006 .....
33
34 Underpayment on line 15
x Number of days on line 33 x *%
$
$
$
$
+ compounding, if applicable
365
..............
34
$
$
$
$
35 Add lines 20, 22, 24, 26, 28, 30, 32, and 34 ..........................................
35
36 Penalty Limitation. In columns (a) through (d), list the smaller
$
$
$
$
of Part B, line 15 x 10% OR the amount from Part C, line 35...............
36
37 Penalty. Add columns (a) through (d) of line 36. Enter the total here and on Form 99T, line 14; or Form 120, line 34;
$
or Form 120A, line 25; or Form 120S, line 29..................................................................................................................................
37
00
* Arizona underpayment of estimated tax payment penalty rates are the federal underpayment rates established under IRC § 6621(a)(2).
Underpayments made after December 31, 2004: For lines 26, 28, 30, 32, and 34, use the penalty interest rate for each calendar quarter
that the IRS will determine during the fi rst month in the preceding quarter. These rates are published quarterly in an IRS News Release
and in a revenue ruling in the Internal Revenue Bulletin. This information is also available by accessing the IRS Web Site at or
by calling the IRS at 1-800-829-1040.
ADOR 91-0030 (04)
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