Californiaform 5805 - Underpayment Of Estimated Tax By Individuals And Fiduciaries - 2007 Page 3

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Use line 10 and line 12 to figure the number of days

Example: You had an underpayment for the

If a subsequent payment does not reduce the

the underpayment remained unpaid. Use line 11

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

underpayment to zero, you will need to make an

and line 13 to figure the actual penalty amount by

installment required a payment of $1,200. On

additional computation in the column.

applying the rate against the underpayment for the

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

• First, count the number of days from the due

number of days it remained unpaid.

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

date to the date paid and use the underpay-

this payment is considered to be for the April 15th

Maximum days in a rate period per quarter:

ment amount from Worksheet II, line 8.

installment. The penalty for the April 15th

• Second, count the number of days from the

installment is figured to June 10th. The amount

Installment

Days in Rate

payment date to the end of the rate period,

of the payment to be applied to the June 15th

Period

and subtract the amount of the subsequent

installment is $700.

payment from the underpayment amount from

260

106

Subsequent Payments. For purposes of

Worksheet II, line 8.

199

106

computing the penalty, it may be helpful to make

• Third, apply the rate for the applicable period.

107

106

a list of any payments that you made after the

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

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

Payment Application. Your payments are applied

instructions for Part II.

to any underpayment balance on an earlier

installment. It does not matter if you designate a

If you made subsequent payments, you may

payment for a later period.

need to make additional computations for the

applicable column on the worksheet. However, if

the payment reduced the underpayment to zero,

there are no further computations to make for

that column. In that case, you count the number

of days from the installment due date to the date

paid.

Worksheet II Regular Method to Figure Your Underpayment and Penalty.

Payment Due Dates

Part I Figure Your Underpayment

(a)

(b)

(c)

(d)

4/5/07

6/5/07

9/5/07

/5/08

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 13 of one column before going to the next column.

Rate Period :

4/5/07

6/5/07

9/5/07

April 5, 007 — December 3, 007

Days:

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

amount on line 8 was paid or 12/31/07, whichever is earlier . . . . . . . . . . . . . . . . . . . .

Underpayment

Number of

on line 8

days on line 10

.08

 $

(see instructions)

365

Rate Period :

/0/08

/5/08

January , 008 — April 5, 008

Days:

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

amount on line 8 was paid or 4/15/08, whichever is earlier . . . . . . . . . . . . . . . . . . . . .

Underpayment

Number of

on line 8

days on line 12

.08

(see instructions)

366

 3 $

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

Part II, line 13, and on Form 540, line 64; Form 540A, line 64; Long Form 540NR, line 71; or Form 541, line 42.

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

4 $

Page 4 FTB 5805 Instructions 2007