Form Nj-2210 - Underpayment Of Estimated Tax By Individuals, Estates Or Trusts - 2014 Page 4
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1
2
3
4Computing the Interest
Use the table in Option 1 to compute interest on the amount of the underpayment from page 1, NJ-2210. If your estimated tax payments
for tax year 2014 were not paid timely, interest must be computed based on the Interest Rate Schedule in Option 2.
OPTION 1
Q
A
B
C
D
E
F
G
U
A
PERIOD
Amount Due
Balance Due
Total Due
Total Paid
Balance
Interest
R
(Line 5, NJ-2210)
Previous Qtr.
(Col. A + B)
(Line 6, NJ-2210)
(Col. C - D)
Multiplier
(Col. E x Col. F)
T
E
(Col. E)
R
1.
4/16 - 6/15
.010
2.
6/16 - 9/15
.015
3.
9/16 - 1/15
.021
4.
1/16 - 4/15
.015
TOTAL INTEREST
Column A
Enter the amount due per quarter (Line 5, NJ-2210).
Column B
Enter the balance due (Column E) from the previous quarter.
Column C
Enter the total of Column A plus Column B.
If Column B is negative, subtract Column B from Column A.
Column D
Enter the total estimated tax paid and withheld (Line 6, NJ-2210).
Column E
Subtract Column D from Column C.
Column F
The multiplier is based on the interest rates in effect during each quarter.
Column G
Multiply Column E by the multiplier in Column F. If Column E is negative, enter zero in Column G.
TOTAL INTEREST
Add the interest for each quarter and enter this amount in the block marked TOTAL INTEREST on Line 19,
NJ-2210 and on Line 46, NJ-1040.
OPTION 2
Compute the interest on the amount of the underpayment on Line 12 from the date the underpayment was
incurred to the date the underpayment was satisfied or the original due date of the final tax return (Form NJ-1040),
whichever is earlier. Interest is assessed at the annual rate of 3% above the average predominant prime rate and is
imposed each month or fraction thereof the underpayment exists. The interest rate will be reviewed quarterly and
will only change if there has been a cumulative change of more than one percent since it was last set.
INTEREST RATE SCHEDULE
PERIOD
INTEREST RATE
4/17/14 - 4/15/15
6.25%
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