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PURPOSE OF THIS FORM

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

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

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

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

taxes paid that were for 2011 tax year plus any portion of your overpayment from

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

2010, which you elected to be applied to 2011. Enter in column A those payments

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

made on or before April 15, 2011, in column B those payments made between April

16, 2011 and June 15, 2011, in column C those payments made between June 16,

FARMER AND FISHERMAN

2011 and September 15, 2011, and in column D those payments made between

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

September 16, 2011 and January 15, 2012.

1 Gross income from farming or fishing is at least two thirds

If you filed your return on or before February 15, 2012 and paid the tax bal-

payment of estimated tax:

of your annual gross income; and, 2 Filed form RI-1040 or RI-1040NR and paid the tax

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

due on or before March 1, 2012. If you meet both of the tests, enter zero on Form 2210,

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

RI-1040, line 15B or RI-1040NR, line 18B

the January 15, 2012 installment date or included their January 15, 2012 installment

line 22. Also, enter zero on

. Otherwise,

payment with the tax balance paid on or before February 15, 2012.

substitute 66.67 % for 80% on Part I, line 2 and complete Part 1 and Part 3, Column D of

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

this form. Attach this form to your return or mail to RI Division of Taxation if the return has

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

been previously filed.

the amount entered on line 16 for the next installment period. Any underpayment on

PART 1 - REQUIRED ANNUAL PAYMENT

line 17 should be used to decrease the amount on line 16 for the next installment peri-

Line 1 - Enter your 2011 RI tax from RI-1040, line 10 less lines 14D and 14E, RI-1040NR,

od. However, if you entered amounts on line 14, annualized income installments, and

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

the amounts on line 17 are zero ($0) or less for all installment periods, then enter zero

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

($0) on line 22 and file this form with your return.

Line 3 - Enter your 2011 RI taxes withheld from RI-1040, line 14A , RI-1040NR, lines 17A

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

PART 4 - HOW TO FIGURE THE CHARGE

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

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

amount and need not complete the rest of this form.

ment or 6/15/2011, whichever is earlier. Column B: Enter the date you paid the tax

Line 5 - Enter your 2010 RI tax - RI-1040, line 15 less lines 18D and 18E, RI-1040NR,

balance due for the current installment or 9/15/2011, whichever is earlier. Column C:

line 15C less line 18D, RI-1040S, line 6 less line 10D or RI-1041, line 19C. If you had

Enter the date you paid the tax balance due for the current installment or 12/31/2011,

no federal tax liability for 2010 and you were a Rhode Island resident during all of

whichever is earlier. Column D: Enter the date you paid the tax balance due for the

2010, and your 2010 federal tax return was (or would have been had you been

current installment or 4/15/2012, whichever is earlier.

required to file) for a full 12 months, then enter zero (0).

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

Line 6 - Enter the smaller of line 2 or line 5 (including zero). If line 6 is zero, you do not

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

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

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

attach this form to your RI return.

payment or January 1, 2012, whichever is earlier.

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

PART 2 - SHORTCUT METHOD

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

Line 7 - Enter the amount from line 6.

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

Line 8 - Enter the total amount of estimated tax and withholding tax you paid for 2011 (RI-

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

1040, lines 14A and 14B, RI-1040NR, lines 17A, 17B and 17C or RI-1041, lines 15A,

Line 20A - Enter the number of days from January 1, 2012 to the date of payment or

15B and 15C).

January 15, 2012, whichever is earlier.

Line 9 - Subtract line 8 from line 7.

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

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

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

Line 11 - If you paid the tax balance after 4/15/2012, enter zero (0). If you paid the tax

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

balance due before 4/15/2012, multiply the number of days paid before 4/15/2012 by

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

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

Line 21A - Enter the number of days from January 15, 2012 to the date of payment or

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

April 15, 2012, whichever is earlier.

line 18B or in the space provided on RI-1041, line 16 and check the box.

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

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

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

PART 3 - FIGURE YOUR UNDERPAYMENT

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

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

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

The interest rate to be used is 18% per annum from January 1, 2012 to

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

December 31, 2012.

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

you must complete it and use it for all installments.

NOTE: COMPLETE LINES 15-17

FOR ONE COLUMN BEFORE COMPLETING THE NEXT COLUMN.

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

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

your return. If your RI tax return has previously been filed, then attach your check to

this form and mail it to the RI Division of Taxation, One Capitol Hill, Providence, RI

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

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

02908-5806.

PART 5

ANNUALIZED INCOME INSTALLMENT WORKSHEET

01/01/2011

IMPORTANT: Complete one column lines 23-33 before completing the next

column.

03/31/2011

05/31/2011

08/31/2011

12/31/2011

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)..............................................

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

31.

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 - 2011 Page 2

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