Form Rpd-41272 12 - Calculation Of Estimated Personal Income Tax Underpayment Penalty - State Of New Mexico Taxation And Revenue Department - 2012 Page 3
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5RPD-41272 12
Rev. 12/3/2012
New Mexico Taxation and Revenue Department
2012 Calculation of Estimated Personal Income Tax Underpayment Penalty
Check here if you wish the Department to compute the penalty on underpayment of estimated personal income tax
that you owe. If you choose to have the Department compute the penalty, you do not need to complete Section V. You
must complete Sections I through IV, however, or the Department cannot calculate your penalty using an alternative
method of computing estimated tax and you may be assessed based on the standard method. To compute the penalty,
continue with Section V.
1st Qtr
2nd Qtr
3rd Qtr
4th Qtr
Section V: Compute the penalty on underpayment of estimat-
ed installment payments. Complete this section to calculate the
(a)
(b)
(c)
(d)
penalty you owe.
21.
Enter the underpayment of estimated tax for the quarter, from line
21
19, Section IV.
22.
Enter the due date of the installment from the table in Section IV.
22
23.
Enter the date the underpayment on line 21 was paid or the 15th day
of the fourth month after the close of the tax year, whichever is earlier.
See HOW INSTALLMENT PAYMENTS ARE APPLIED in the instruc-
23
tions.
24.
Number of days from the due date of the installment (line 22) to the
date shown on line 23.
24
25.
Number of days on line 24, after 4/16/2012 and before 7/1/2012.
25
3
Underpayment on line 21 X Number of days on line 25 X ___% =
26.
366
26
27.
Number of days on line 24, after 6/30/2012 and before 10/1/2012.
27
Underpayment on line 21 X Number of days on line 27 X ___% =
3
28.
366
28
29.
Number of days on line 24, after 9/30/2012 and before 1/1/2013.
29
Underpayment on line 21 X Number of days on line 29 X ___% =
3
30.
366
30
31.
Number of days on line 24, after 12/31/2012 and before 4/15/2013.
31
Underpayment on line 21 X Number of days on line 31 X ___% =
3
32.
365
32
33
33.
For each column, add lines 26, 28, 30 and 32.
34.
Add columns (a) through (d) of line 33. Enter the total here.This is
your total penalty on underpayment of estimated income tax.
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If you have multiple payments for any quarter, the column for the quarter will need to be repeated. Each payment for a quarter
should be computed in a separate column. A spreadsheet can be attached that is in the same format as Section V. When
completing line 21, for subsequent columns for the same quarter, subtract the previous payment(s) for the quarter from the
underpayment of estimated tax for the quarter (line 19, Section IV).
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