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PURPOSE OF THIS FORM

Line 15 - Enter the amount from line 13 (or from line 14, if line 14 was completed).

Individuals should use this form to determine if their income tax was sufficiently pre-

Line 16 - You are considered to have paid Rhode Island withholding tax evenly during

paid throughout the year by having Rhode Island tax withheld or by paying Rhode

the year unless you can show otherwise. Therefore, you are considered to have

Island estimated tax. If not, a charge may be imposed on the underpayment of the

paid one-fourth of your Rhode Island withholding on each installment due date.

taxes. Complete Part 1 of this form to determine if the payment of the charge may be

Divide the total amount withheld by 4 and enter the results in each column. Enter

avoided.

the estimated taxes paid that were for 2012 tax year plus any portion of your over-

payment from 2011, which you elected to be applied to 2012. Enter in column A

FARMER AND FISHERMAN

those payments made on or before April 15, 2012, in column B those payments

If you meet both of the following tests, you may be exempt from the charge for

made between April 16, 2012 and June 15, 2012, in column C those payments

1 Gross income from farming or fishing is at least

made between June 16, 2012 and September 15, 2012, and in column D those

underpayment of estimated tax:

two thirds of your annual gross income; and, 2 Filed Form RI-1040 or RI-1040NR and

payments made between September 16, 2012 and January 15, 2013.

If you filed your return on or before February 15, 2013 and paid the tax bal-

paid the tax due on or before March 1, 2013. If you meet both of the tests, enter zero

on Form RI-2210, line 22. Also, check the 2210 box and enter zero on RI-1040, line

ance in full, then enter that amount in column D. This only applies to those taxpay-

15B or RI-1040NR, line 18B. Otherwise, substitute 66.67 % for 80% on Part I, line 2

ers who either were not required to make a Rhode Island estimated tax payment

and complete Part 1 and Part 3, Column D of this form. Attach this form to your return

prior to the January 15, 2013 installment date or included their January 15, 2013

or mail to RI Division of Taxation if the return has been previously filed.

installment payment with the tax balance paid on or before February 15, 2013.

Line 17 - Subtract line 16 from line 15 for any underpayments. Subtract line 15 from

ESTATES

line 16 for any overpayments. Any overpayments on line 17 should be used to

Estates are not required to file a declaration of estimated tax for the first two years

increase the amount entered on line 16 for the next installment period. Any under-

after a decedent’s death. If the estate qualifies for this exemption from remitting pay-

payment on line 17 should be used to decrease the amount on line 16 for the next

ments and is not subject to the charge for underestimating interest, enter zero on Form

installment period. However, if you entered amounts on line 14, annualized income

RI-2210, line 22. Also, check the 2210 box and enter zero on RI-1041, line 16B.

installments, and the amounts on line 17 are zero ($0) or less for all installment

periods, then enter zero ($0) on line 22 and file this form with your return.

PART 1 - REQUIRED ANNUAL PAYMENT

Line 1 - Enter your 2012 RI tax from RI-1040, line 10A less lines 14D and 14E,

PART 4 - HOW TO FIGURE THE CHARGE

RI-1040NR, line 13A less line 17D or RI-1041, line 14A.

Line 18 - Column A: Enter the date you paid the tax balance due for the current install-

Line 2 - Enter 80% of the amount shown on line 1.

ment or 6/15/2012, whichever is earlier. Column B: Enter the date you paid the tax

Line 3 - Enter your 2012 RI taxes withheld from RI-1040, line 14A , RI-1040NR, lines

balance due for the current installment or 9/15/2012, whichever is earlier. Column

17A and 17C or RI-1041, lines 15A and 15C.

C: Enter the date you paid the tax balance due for the current installment or

Line 4 - Subtract line 3 from line 1. If the result is $250.00 or less you do not owe any

12/31/2012, whichever is earlier. Column D: Enter the date you paid the tax bal-

amount and need not complete the rest of this form.

ance due for the current installment or 4/15/2013, whichever is earlier.

Line 5 - Enter your 2011 RI tax - RI-1040, line 10 less lines 14D and 14E, RI-1040NR,

Line 19A - Column A & Column B: Enter the number of days from the installment due

line 13 less line 17D, or RI-1041, line 14. If you had no federal tax liability for 2011

date to the date of payment or the due date of the next installment, whichever is

and you were a Rhode Island resident during all of 2011, and your 2011 federal tax

earlier. Column C: Enter the number of days from the installment due date to the

return was (or would have been had you been required to file) for a full 12 months,

date of payment or January 1, 2013, whichever is earlier.

then enter zero (0).

Line 19B - Compute the charge using the applicable interest rates and number of days

Line 6 - Enter the smaller of line 2 or line 5 (including zero). If line 6 is zero, you do

times underpayment entered on line 17 for each installment period. Divide the

not owe any amount and need not complete the rest of this form. However, you

number of days from line 19A by the total number of days in the year times the

must attach this form to your Rhode Island return.

applicable interest rate times the amount of the underpayment on line 17 for each

installment.

PART 2 - SHORTCUT METHOD

Line 20A - Enter the number of days from January 1, 2013 to the date of payment or

Line 7 - Enter the amount from line 6.

January 15, 2013, whichever is earlier.

Line 8 - Enter the total amount of estimated tax and withholding tax you paid for 2012

Line 20B - Compute the charge using the applicable interest rates and number of days

(RI-1040, lines 14A and 14B, RI-1040NR, lines 17A, 17B and 17C or RI-1041, lines

times underpayment entered on line 17 for each installment period. Divide the

15A, 15B and 15C).

number of days from line 20A by the total number of days in the year times the

Line 9 - Subtract line 8 from line 7.

applicable interest rate times the amount of the underpayment on line 17.

Line 10 - Multiply line 9 by 12.0205% (.120205).

Line 21A - Enter the number of days from January 15, 2013 to the date of payment or

Line 11 - If you paid the tax balance after 4/15/2013, enter zero (0). If you paid the tax

April 15, 2013, whichever is earlier.

balance due before 4/15/2013, multiply the number of days paid before 4/15/2013

Line 21B - Compute the charge using the applicable interest rates and number of days

by the amount on line 9 and by .00033 and enter the result on line 11.

times underpayment entered on line 17 for each installment period. Divide the

Line 12 - Subtract line 11 from line 10. Enter here and on RI-1040, line 15B, RI-

number of days from line 21A by the total number of days in the year times the

1040NR, line 18B or RI-1041, line 16B and check the box.

applicable interest rate times the amount of the underpayment on line 17.

The interest rate to be used is 18% per annum from January 1, 2013 to

PART 3 - FIGURE YOUR UNDERPAYMENT

December 31, 2013.

Line 13 - Divide the amount shown on line 6 by four (4) and enter the result in each column.

Line 22 - Add the amounts from all columns on lines 19B, 20B and 21B and enter the

Line 14 - If your income varies during the year, you may complete the annualized

total here. Include this amount with your tax balance payment and attach this form

income installment worksheet. However, if you complete and use line 14 for any

to your return. If your Rhode Island tax return has previously been filed, then

installment you must complete it and use it for all installments.

NOTE: COMPLETE

attach your check to this form and mail it to the RI Division of Taxation, One Capitol

LINES 15-17 FOR ONE COLUMN BEFORE COMPLETING THE NEXT COLUMN.

Hill, Providence, RI 02908-5806.

PART 5

ANNUALIZED INCOME INSTALLMENT WORKSHEET

01/01/2012

IMPORTANT:

Complete one column lines 23-33 before completing the next column.

03/31/2012

05/31/2012

08/31/2012

12/31/2012

23.

Figure your actual taxable income.....................................................................

2.4

1.5

24.

Annualization amounts.......................................................................................

25.

Multiply the amount on line 23 by the indicator on line 24................................

26.

Figure your Rhode Island tax on the amount on line 25....................................

20%

40%

60%

80%

27.

Applicable percentage........................................................................................

28.

Multiply the amount on line 26 by the applicable percentages on line 27.........

29.

Enter the combined amount from line 33 for all preceding periods...................

30.

Subtract line 29 from line 28 (not less than zero)..............................................

31.

Enter the amount from RI-2210, page 1, line 13 for the period plus the

amount from line 32 of this worksheet for the preceding period........................

If line 31 is more than line 30, SUBTRACT line 30 from line 31,

32.

OTHERWISE enter zero....................................................................................

33.

Enter the smaller of line 30 or line 31 here and on page 1, line 14..................

Page 2

Form Ri-2210 Draft - Underpayment Of Estimated Tax By Individuals, Estates And Trusts - 2012 Page 2

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