Form Ar2220 - Underpayment Of Estimated Tax By Corporations
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AR2220
State of Arkansas
UNDERPAYMENT OF ESTIMATED TAX BY CORPORATIONS
CORPORATION
FEIN
PART 1.DETERMINING TAX AMOUNT REQUIRED TO BE ESTIMATED
(Round all entries to whole dollars)
00
1. Tax Liability for Year Ending ___ / _____ / _____ : (Enter amount from appropriate line on Arkansas return, AR1100CT)
(If Line 1 is $1,000 or less, you are not subject to an underestimate penalty)
00
2. (a) 90% of Line 1: ..............................................................................................................................................................
00
(b) Prior Year Tax Liability: (Enter amount from appropriate line on prior year Arkansas return) ......................................
00
3. Enter Lesser of 2(a) or 2(b): (Divide entry by 4 for Part 2 Lines 2, 5, 8, and 11) ...............................................................
00
4. Total Estimated Tax Paid: (Including estimate carryforward from prior year) ....................................................................
(If Line 4 is equal to or greater than Line 3 you are not subject to an underestimate penalty, provided the correct amount of
quarterly estimated tax payments, as entered in Part 2, Lines 2, 5, 8, and 11, were timely fi led and paid.)
PART 2.COMPUTATION OF UNDERESTIMATED PENALTY
(Round all entries to whole dollars)
A
B
C
D
E
NOTE: Complete Columns A and B fi rst, Column C
Date
Amounts
Cumulative
Days
Penalty
second, Column D third, and Column E fourth.
Col. C X
Enter pmts.
Col.
Col. D X
as (-)
Underpay (+)
C (+)
Overpay (-)
Amts.
.00027397
1. Estimated Credit Carryforwards and Payments made
Only
on or before the 1
st
Quarter Due Date:
<
>
2. Required 1
Quarter Estimated Payment:
st
B1+B2=
A3-A2=
3. Est. Pmt. Made after Col. A, Ln.2 and on or before
Col. A, Ln. 5. If blank, enter Col. A, Ln. 5 date in Col. A:
<
>
C2+B3=
A4-A3=
4. Est. Pmt. Made after Col. A, Ln. 3 and on or before
Col. A, Ln. 5. If blank, enter Col. A, Ln. 5 date in Col. A:
<
>
C3+B4=
A5-A4=
5. Required 2
Quarter Estimated Payment:
nd
C4+B5=
A6-A5=
6. Est. Pmt. Made after Col. A, Ln. 5 and on or before
Col. A, Ln. 8. If blank, enter Col. A, Ln. 8 date in Col. A:
<
>
C5+B6=
A7-A6=
7. Est. Pmt. Made after Col. A, Ln. 6 and on or before
Col. A, Ln. 8. If blank, enter Col. A, Ln 8 date in Col. A:
<
>
C6+B7=
A8-A7=
8. Required 3
Quarter Estimated Payment:
rd
C7+B8=
A9-A8=
9. Est. Pmt. made after Col. A, Ln. 8 and on or before
Col. A, Ln. 11. If blank, enter Col. A, Ln. 11 date in Col. A:
<
>
C8+B9=
A10-A9=
10. Est. Pmt. made after Col. A, Ln. 9 and on or before
Col. A, Ln. 11. If blank, enter Col. A, Ln. 11 date in Col. A:
<
> C9+B10=
A11-A10=
11. Required 4
Quarter Estimated Payment:
th
C10+B11=
A12-A11=
12. Est. Pmt. made after Col. A, Ln. 11 and on or before
Col. A, Ln. 14. If blank, enter Col. A, Ln. 14 date in Col. A:
<
> C11+B12=
A13-A12=
13. Est. Pmt. made after Col. A, Ln. 12 and on or before
Col. A, Ln. 14. If blank, enter Col. A, Ln. 14 date in Col. A:
<
> C12+B13=
A14-A13=
14. Earlier of the Income Tax Return Due Date or the Income
Tax Return Filed Date with complete Tax Payment:
Total Penalty (Total Col. E):
IF YOU ARE CLAIMING ONE OF THE EXCEPTIONS LISTED BELOW, CHECK THE CORRESPONDING NUMBER
PART 3.
BOX AND ENTER THAT NUMBER IN THE BOX PROVIDED ON LINE 46 OF FORM AR1100CT.
Exceptions:
(4) No penalty shall be imposed with respect to any underpayment to the extent
(1) Taxpayers whose income from farming for the tax year can reasonably be
that the Commissioner of Revenue determines that by reasons of casualty,
expected to amount to at least two thirds (2/3) of the total gross income from
disaster, or other unusual circumstances the imposition of such penalty would
all sources for the tax year, may fi le such declaration and pay the estimated
th
nd
be against equity and good conscience.
tax on or before the 15
day of the 2
month after the close of the tax year, or
in lieu of fi ling any declaration, may fi le an income tax return and pay the tax
th
rd
(5) No penalty shall be imposed with respect to any underestimate or underpayment
on or before the 15
day of the 3
month after the close of the tax year.
if the Commissioner determines that:
th
(1) the taxpayer
(2) In lieu of fi ling the 4
quarter installment the taxpayer may fi le an income tax
(i) retired after having attained age 62, or
return and pay the tax on or before January 31
st
or on the last day of the fi rst
(ii) became disabled, in the tax year for which such estimated payments were
month after the close of the tax year.
required to be made or in the tax year preceding such tax year and,
(2)such underpayment was due to reasonable cause and not to willful neglect.
(3) No penalty shall be imposed for a tax year if:
(1) the preceding tax year was a tax year of 12 months, and
(6) Taxpayers with varied income may benefi t by computing the ten percent (10%)
(2) the taxpayer did not have a tax liability for the preceding tax year, and
penalty on an annualized basis. The penalty is computed using Form AR2220A which
(3) the taxpayer was a resident of Arkansas throughout the preceding tax year.
must be submitted with Form AR1100CT. If penalty is computed using Form 2220A,
write 6 in Box on Line 46 on Form AR1100CT.
Attach Completed Form AR2220A if Computing Penalty on Annualized Basis
AR2220 (R 9/10)
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