Instructions For Form De 88/de 88all - Payroll Tax Deposit Coupon - Employment Development Department Page 9

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PENALTY FOR A LATE QUARTERLY PAYMENT
A 10% penalty will be charged on any late Quarterly Payment. Penalty will be charged on the UI, ETT, SDI, and PIT amounts for a
late Quarterly Payment.
· The UI is $238.00.
Example:
· The ETT is $7.00.
· The SDI is $72.00.
· The PIT withheld is $200.00.
· The penalty for a late quarterly payment is 10% (.10).
Calculation:
UI Taxes
$ 238.00
ETT Taxes
7.00
SDI Withheld
72.00
+
PIT Withheld
+ 200.00
Total Amount Subject to Penalty
$ 517.00
x
10% Penalty
x
.10
TOTAL PENALTY DUE
$ 51.70
(ENTER IN BOX 4E ON COUPON )
HOW TO CALCULATE PAYMENT AMOUNTS - INTEREST AMOUNTS
Interest will be charged on any late deposit. For deposits, interest can only be charged on SDI and PIT amounts since depositing
these withholdings is required by law. DO NOT include any UI and ETT prepayment amounts when calculating interest since
prepayment of these taxes is voluntary. The daily interest factor for January 1, 2002, through June 30, 2002, is .0001918*.
Beginning July 1, 2002, please contact our Employment Tax Customer Service Representative at (888) 745-3886 for the daily
interest factor.
INTEREST FOR A LATE SEMI-WEEKLY DEPOSIT
· The payroll date was February 15, 2002, and the semi-weekly deposit is considered delinquent on
Example:
February 22.
· The semi-weekly deposit was postmarked on March 4, 2002, and is 11 days late.
· The SDI amount is $45.00
· The PIT deposit amount is $600.00
· The Daily Interest Factor for a late deposit is 0.1918% (.0001918).
Calculation:
SDI Deposit Amount
$
45.00
+
PIT Deposit Amount
+
600.00
Taxes Due
645.00
x
10% Penalty
x
.10
Penalty
64.50
+
Taxes Due
+
645.00
Amount Subject to Interest Calculation
$
709.50
x
Daily Interest Factor*
x.0001918
Daily Interest
0.136082
x
Numbers of Days Late
x
11
INTEREST DUE
$
1.50
(ENTER IN BOX 4F ON COUPON)
DE 88ALL-I Rev. 14 (1-02) (INTERNET)
Page 8 of 14
CU

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