Form 220 - Underpayment Of Estimated Tax By Corporations - 1998

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1998

Underpayment of Estimated Tax By Corporations

ARIZONA FORM

220

For taxable year beginning _________________, 19 ____, and ending _________________, 19 ____.

Attach to your return

Name as shown on Form 120, 120S or 99T

Federal employer identification number

Part A Calculation of Underpayment

1998 Arizona tax liability - from Form 99T, page 1, line 4; or Form 120, page 1, line 23; or Form 120S, page 1, line 19 .........................

Taxpayers with a retroactive consolidation tax payment credit or claim of right tax calculations - see instructions.

Required annual payment.

a Enter 90 percent of line 1 .........................................................................................................................

b Form 99T and 120 filers - enter the tax as shown on the 1997 return. See instructions .........................

c Form 120S filers - see instructions ..........................................................................................................

d Form 99T and 120 filers - enter the smaller of line 2a or line 2b. Form 120S filers - enter the smaller of line 2a or line 2c .................

(a)

(b)

(c)

(d)

Installment Due Dates. In columns (a) through (d), enter the 15th

day of the 4th, 6th, 9th and 12th months of the taxable year............

Required Installments. In columns (a) through (d), enter 25

percent of line 2d unless a or b below applies to the

taxpayer. Check box if applies:

a If the corporation uses the annualized income installment

method and/or the adjusted seasonal installment method,

complete the Form 220 Worksheet and enter the amount

from line 46 of the worksheet. Attach a copy of the worksheet.

b If the corporation is a "large corporation," see the

instructions for the amount to enter..............................................

Amount paid or credited for each period. See instructions. For

column (a) only - enter amount from line 5 on line 9 ........................

Complete lines 6 through 12 for one column before completing

the next column.

Enter the amount, if any, from line 12 of the preceding column ......

Add lines 5 and 6. .............................................................................

Add amounts on lines 10 and 11 of the preceding column ...............

Subtract line 8 from line 7. If zero or less, enter zero. For

column (a) only, enter the amount from line 5 ..................................

10 If the amount on line 9 is zero, subtract line 7 from line 8.

Otherwise, enter zero .......................................................................

11 Underpayment. If line 9 is less than or equal to line 4,

subtract line 9 from line 4. Then go to line 5 of the next column.

Otherwise, go to line 12 - see instructions .......................................

12 Overpayment. If line 4 is less than line 9, subtract line 4 from

line 9. Then go to line 5 of the next column .....................................

Part B Underpayment of Estimated Tax Penalty

13 Penalty Limitation. In columns (a) through (d), list the smaller

of Part A, line 11 X 10% or the amount from Part B, page 2, line 35 ..

14 Penalty - add columns (a) through (d) of line 13. Enter the total ..............................................................................................................

Part C Interest

15 Interest - enter the amount from Part C, page 3, line 55 ........................................................................................................................

Part D Total Penalty and Interest

16 Total Penalty and Interest - add the amounts shown in Part B (line 14), and in Part C (line 15).

Enter the total here and on Form 99T, line 11; Form 120, line 31; and Form 120S, line 26 .......................................................

ADOR 06-0030 (98)