Form It/sd 2210 - Long Method Interest Penalty On Underpayment Of Ohio Or School District Income Tax - 2016 Page 3
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9IT/SD 2210 Long
Taxpayer’s name
Taxpayer’s SSN or FEIN
Rev. 12/16
Part II – Calculating the Interest Penalty Due – Long Method
Use this form to calculate interest penalty on underpayment of taxes and to show the exceptions where no interest penalty is
due. Individuals and estates subject to school district income tax should see Note 1 on page 10.
Payment Due Dates
(see Note 1 below)
10211411
C
A
B
D
Long method
9/15/16– 75%
4/18/16 – 25%
6/15/16 – 50%
1/17/17 – 100%
(10/15/16 for
(7/15/16 for
1. Multiply the amount on page 2, line 9 by the percentage indicated
Ohio IT 1140)
Ohio IT 1140)
in each column on this page. However, if you choose to annualize
your income, check the box and enter on this line, in columns A
through D, the amounts from columns A through D, respectively, on
..............................................1.
the last line on pages 4, 5, 6, 7, 8, 9 or 10
2. Cumulative tax withheld and refundable pass-through entity credit:
Multiply this amount by the percentage shown at the top of each
column on this page. IT 1140 filers: Enter zero in all four columns or
leave this line blank
.................................................................................2.
3. Cumulative estimated tax paid by the dates shown at the top of each
column on this page (see Note 3 on page 11). For Ohio IT 1140 filers
the “estimated tax paid” should be (i) reduced by transfers, if any, to
Ohio IT 4708 and (ii) increased by transfers, if any, to Ohio IT 1140.
For Ohio IT 4708 filers, the “estimated tax paid” should be (i) reduced
by transfers, if any, to Ohio IT 1140 and (ii) increased by transfers,
if any, to Ohio IT 4708. Note: For Ohio IT 1140 there are no taxes
withheld by others and no refundable credits other than last year’s
tax overpayment credited to this year
.....................................................3.
4. Overpayment credit carryover from 2015 and other refundable credits
from the 2016 tax return. Except for Notes 2 and 3 below, enter these
amounts in all four columns. Do not show on this line any amounts
shown on line 2 above (see Notes 2 and 3 below)
..................................4.
5. Add lines 2, 3 and 4
................................................................................5.
6. Underpayment subject to interest penalty (line 1 minus line 5). If line
.............................................................6.
5 is greater than line 1, enter -0-
.010634
.004754
.007541
.009973
(.008011 for
(.007213 for
(.007705 for
Ohio IT 1140)
Ohio IT 1140)
Ohio IT 1140)
7. Ratio (if full or partial payment was made late, see page 13)
.................7.
8. Interest penalty for the period: Multiply the underpayment on line 6
by the respective ratio on line 7
...............................................................8.
9. Total interest penalty due. Add line 8, columns A through D. Enter the
result here, on page 1 of this form and on the interest penalty line on
Ohio IT 1040, SD 100, SD 100E, IT 1041, IT 1140 or IT 4708
................9.
Note 1: Payment due dates – these dates and the rates on line 7 are for calendar year taxpayers. So, fiscal year taxpayers must adjust
the payment due dates and the line 7 ratios accordingly.
Note 2: Line 4 – If the overpayment credit carryover from 2015 is attributable in whole or in part to year 2015 tax payments that you
made after April 18, 2016, then you cannot indicate in column A the entire amount of the overpayment. Rather, you must adjust this line
accordingly to reflect the post-April 18, 2016 date of payment(s) giving rise to the overpayment credit carryover. Also see page 13 for a
discussion about late or partial payments.
Note 3: Line 4 – Section 3 of Amended Substitute House Bill 554, 127th General Assembly, repeals – for the application periods beginning
July 1, 2009 and July 1, 2010 – the portion of division (B) of Ohio Revised Code section 5747.76, which states that for purposes of mak-
ing estimated income tax payments, taxes equal to the current amount of the historic structure rehabilitation credit “shall be considered to
be paid to the state on the first day of the taxable year.” So, on this form you can claim this credit on line 4 only on and after the date of
issuance of the credit certificate. For application periods beginning July 1, 2011, taxes equal to the current amount of the historic structure
rehabilitation credit shall be considered to be paid on the first day of the taxable year.
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