Form Ar2220 - Underpayment Of Estimated Tax By Corporations Page 2
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1
2INSTRUCTIONS FOR FORM AR2220
UNDERPAYMENT OF ESTIMATED TAX BY CORPORATIONS
Lines 12 and 13: Enter the dates in Col. A and the totals (as negative
PART 1
numbers) in Col. B (earliest date on line 12) of estimated pay-
Line 1:
Enter current year tax liability. If this is $1,000.00 or less, you are
ments (exclude extension payments) made after the Required
not subject to an Underestimate Penalty.
4th Quarter Estimated Payment due date and on or before the
earlier of the Income Tax Return Due Date or the date the Income
Line 2:
(a) Enter 90% of the dollar amount entered on line 1.
Tax Return was Filed and Paid. If one or more lines are left blank,
enter the earlier of the Income Tax Return Due Date or the date
(b) Enter amount of prior year tax liability.
the Income Tax Return was Filed and Tax Paid in Col. A and zero
(0) in Col. B.
Line 3:
Enter lesser of 2(a) or 2(b).
th
rd
The income tax return due date is the 15
day of the 3
month
Line 4:
Enter amount of total estimated tax paid. Include estimated tax
after the close of the tax year.
carryforward from prior year, but do not include any amount(s) paid
Line 14: Enter the earlier of the Income Tax Return Due Date OR the date
with extension (Voucher 5). If Line 4 is equal to or greater than
the Income Tax Return was fi led and the tax Paid in full.
Line 3, you are not subject to an underestimate penalty provided
the correct amount of estimates were timely fi led and paid.
COLUMN C
Estimates are due on the 15
th
day of the 4
th
, 6
th
, 9
th
and 12
th
month
Lines 2 through 13: Follow instructions between Columns B and C. Example -
of the tax year.
Add Col. B Line 1 to Col. B Line 2 and enter the number (as positive or
PART 2
negative) in Col. C Line 2; Add Col. C Line 2 to Col. B Line 3 and enter
the number (as positive or negative) in Col. C Line 3; etc.
COLUMNS A and B (NOTE: Complete Columns A and B fi rst, Column
COLUMN D
C second, Column D third, and Column E fourth)
Lines 2 through 13: Follow instructions between Columns C and D for
Line 1:
Enter the dates in Col. A and the total amount in Col. B of Estimated
Credit Carryforward from previous tax year or other payments
each line in Column C that contains a positive amount. Enter in
made toward the tax liability that were made on or before the
Column D the differences, in days, between the dates in Column
required 1st Quarter Estimated Payment due date.
A that are referenced in the instructions. Example - If Col. C Line 2
contained a positive amount, in Col. D Line 2 enter the difference
Line 2:
Enter the date in Col. A and the amount in Col. B of the Required
in days between the dates in Col. A Line 3 and Col. A Line 2; if
1st Quarter Estimated Payment (Part 1, Line 3 divided by 4 quar-
Col. C Line 2 contained a negative amount, leave Col. D Line 2
ters or from Form AR2220A, Line 20).
blank or enter zero (0).
Lines 3 and 4: Enter the dates in Col. A and the totals (as negative numbers)
COLUMN E
in Col. B (earliest date on line 3) of estimated payments (exclude
Lines 2 through 13: For each line in Column D that contains an entry
extension payments) made after the Required 1st Quarter Es-
timated Payment due date and on or before the Required 2nd
of days, follow instructions at the top of Column E and enter the
Quarter Estimated Payment due date. If one or more lines are
amounts as whole dollars. Example – If Col. D Line 2 contained
left blank, enter the Required 2nd Quarter Estimated Payment
an entry of days, multiply the amount in Col. C Line 2 by the days
due date in Col. A and zero (0) in Col B.
in Col. D Line 2 (days underpaid) and multiply this product by
.00027397; enter this product on Col. E Line 2. If Col. D Line 2 was
Line 5:
Enter the date in Col. A and the amount in Col. B of the Required
blank or contained a zero (0), enter a zero (0) on Col. E Line 2.
2nd Quarter Estimated Payment (Part 1, Line 3 divided by 4
Line 14: Total all amounts in Col. E on Lines 2 through 13. This is your total
quarters or from Form AR2220A, Line 20).
Penalty for Underpayment of Estimated Tax to enter on Line 46 of
Lines 6 and 7: Enter the dates in Col. A and the totals (as negative numbers)
the Arkansas Corporation Income Tax Return, Form AR1100CT.
in Col. B (earliest date on line 6) of estimated payments (exclude
PART 3
extension payments) made after the Required 2nd Quarter Es-
timated Payment due date and on or before the Required 3rd
Quarter Estimated Payment due date. If one or more lines are left
If one of the exceptions listed in Part 3 of Form AR2220 applies to you, it is
blank, enter the Required 3rd Quarter Estimated Payment due
not necessary to complete Form AR2220 provided the appropriate numeric
date in Col. A and zero (0) in Col. B.
character identifying your exception is listed in the block on Line 46, Form
AR1100CT.
Line 8:
Enter the date in Col. A and the amount in Col. B of the Required
3rd Quarter Estimated payment (Part 1, Line 3 divided by 4 quar-
ters or from Form AR2220A, Line 20).
Lines 9 and 10: Enter the dates in Col. A and the totals (as negative
numbers) in Col. B (earliest date on line 9) of estimated payments
(exclude extension payments) made after the Required 3rd Quar-
ter Estimated payment due date and on or before the Required
4th Quarter Estimated Payment due date. If one or more lines
are left blank, enter the Required 4th Quarter Estimated Payment
due date in Col. A and zero (0) in Col. B.
Line 11: Enter the date in Col. A and the amount in Col. B of the Required
4th Quarter Estimated Payment (Part 1, Line 3 divided by 4 quar-
ters or from Form AR2220A, Line 20).
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