Schedule Urt-2220 (State Form 51252) - Underpayment Of Estimated Utility Receipts Tax - 2015

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Indiana Department of Revenue
Schedule
Underpayment of
URT-2220
Estimated Utility Receipts Tax
State Form 51252
(R11 / 8-15)
Beginning
2015 and Ending
Check box if using the exact quarterly payment method.
The purpose of this schedule is to calculate the penalty for underpayment of utility receipts tax on a quarterly basis. The penalty is
10 percent of the total quarterly underpayments unless an exception to the penalty is met for a quarter in Part II.
Name of Corporation or Organization
Federal Identification Number
Part I - Calculation of Minimum Quarterly Payment (use a minus sign to denote a negative amount)
00
1. Enter utility receipts tax due (line 16 of Form URT-1); if less than $2,500, enter -0- ..................
1
X .80
2. Multiply line 1 by 80% and enter result on line 3 .........................................................................
2
00
3. Minimum required payment of utility receipts tax liability for the taxable year ................................
3
4. Enter prior year's utility receipts tax liability (do not reduce by estimated taxes paid) that is
relative to the number of months in the current taxable year ......................................................
4
00
Part II - Calculation of Quarterly Underpayment or Exception to the Penalty
00
5. Enter line 3 or line 4, whichever amount is less ..........................................................................
5
(a)
(b)
(c)
(d)
1st quarter
2nd quarter
3rd quarter
4th quarter
6. Enter in columns (a) through (d) the quarterly installment
due dates corresponding to the 20th day of the 4th, 6th,
/
/
/
/
/
/
/
/
9th, and 12th months of the tax year ....................................
6
7. Enter the amount of utility receipts tax paid or credited on
or before the due date of the quarterly installment ...............
7
8. Enter the overpayment, if any, from the preceding column
in excess of any prior underpayments shown on line 11 ......
8
9. Add lines 7 and 8 for each column .......................................
9
10. Divide line 5 by 4 or by the number of quarters in the
taxable year; enter result in columns (a) through (d) ............ 10
11. Subtract line 10 from line 9 for each quarter ........................ 11
(If the result is a negative figure, you have not met an
exception to the penalty for the quarter.)
Part III - Calculation of Quarterly Underpayment Penalty
12. Enter the overpayment, if any, from the preceding column
in excess of any prior underpayments shown on line 15.
12
13. Add line 7 and line 12 for each column ................................ 13
14. Divide line 1 by 4 or by the number of quarters
in the taxable year, but the divisor cannot be less than 1.
Enter the result in each applicable column ........................... 14
15. Subtract line 14 from line 13 for each column. If result is a
negative figure, that is the underpayment for this quarter. ... 15
16. If line 11 shows zero or more for a quarter, the overpay-
ment exception is met. Enter zero on line 16. Otherwise,
compute 10% penalty on the underpayment shown
on line 15 for each column. Enter the penalty, if any, for
the quarter as a positive figure ............................................. 16
17. Add line 16, columns (a) through (d). This is the total underpayment penalty. Enter it here and
carry the amount to Form URT-1, line 23 ........................................................................................ 17
00
*20415111594*
20415111594

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