Form C-8020 - Sbt Penalty And Interest Computation For Underpaid Estimate Tax - 2004

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2004
Michigan Department of Treasury
(Rev. 10-04)
C-8020
2004 MICHIGAN
SBT Penalty and Interest Computation for Underpaid Estimated Tax
Issued under authority of P.A. 228 of 1975. See instruction booklet for filing guidelines.
1. Name
2. Federal Employer ID Number (FEIN) or TR Number
PART 1: ESTIMATED TAX REQUIRED FOR THE YEAR
3.
Annual tax from C-8000, line 49, or from C-8044, line 15
3.
4.
Required estimate amount. Enter 85% of line 3. If last year's tax was
less than $20,000, enter the smaller of last year's tax or 85% of line 3
4.
See SBT instruction booklet for exceptions
A.
B.
C.
D.
to penalty and interest computation.
5.
ENTER THE PAYMENT DUE DATES
5.
6.
Divide amount on line 4 by 4, or by the number of quarterly
returns required. If annualizing, enter the amount from
Annualization worksheet, line 30
6.
CAUTION: Complete lines 8 - 15 one column at a time.
7.
Prior year overpayment used on quarterly return
7.
8.
Amount paid on quarterly return or SUW return
8.
9.
Enter amount, if any, from line 15 of the previous column
9.
10.
Add lines 7, 8 and 9
10.
11.
Add amounts on lines 13 and 14 of the previous
column and enter the result here
11.
12.
Subtract line 11 from line 10. If zero or less, enter zero.
For column A only, enter the amount from line 10
12.
13.
Remaining underpayment from previous period.
If the amount on line 12 is zero, subtract line 10 from
line 11 and enter the result here. Otherwise, enter zero
13.
14.
UNDERPAYMENT. If line 6 is greater than or equal to line 12,
subtract line 12 from line 6 and enter it here. Then go
to line 8 of the next column. Otherwise, go to line 15
14.
15.
OVERPAYMENT. If line 12 is larger than line 6, subtract line 12
from line 6 and enter it here. Then go to line 9 of next column
15.
PART 2: FIGURING THE INTEREST
A.
B.
C.
D.
16.
TOTAL UNDERPAYMENT. Add lines 13 and 14
16.
17.
Enter the due date for the next quarter or the date the tax
was paid, whichever is earlier. In column D, enter the earlier
of the due date for the annual return or date the tax was paid
17.
18.
Number of days from the due date of the
quarter to the date on line 17
18.
19.
Number of days on line 18 after 4/30/2004 and before 7/1/2004
19.
20.
Number of days on line 18 after 6/30/2004 and before 1/1/2005
20.
21.
Number of days on line 18 after 12/31/2004 and before 7/1/2005
21.
22.
Number of days on line 18 after 6/30/2005 and before 1/1/2006
22.
23.
Number of days on line 19 x 5.0% (.05) x amount on line 16
23.
365
24.
Number of days on line 20 x 5.0% (.05) x amount on line 16
24.
365
25.
Number of days on line 21 x 5.2% (.052) x amount on line 16
25.
365
26.
Number of days on line 22 x *% x amount on line16
26.
365
27.
Underpayment of interest. Add lines 23 through 26
27.
28.
Interest Due. Add line 27 columns A through D and enter the result here.
If not calculating penalty, enter on C-8000, line 56 or C-8044, line 22
28.
*Interest rate will be set at 1% above the prime rate of interest for this period.
Continue on page 2.

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