Arizona Form 221 - Underpayment Of Estimated Tax By Individuals - 2012 Page 2

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Your Name (as shown on page 1)
Your Social Security Number
Annualized Income Installment Worksheet
Complete lines 1 through 23 of one column before completing the next column.
Jan-1-12
Jan-1-12
Jan-1-12
Jan-1-12
to
to
to
to
Mar-31-12
May-31-12
Aug-31-12
Dec-31-12
1 Enter your Arizona adjusted gross income without your dependent, qualifying
parent or grandparent, blind, or over 65 exemptions for each period ..................
1
2 Annualization amounts .........................................................................................
2
4.0
2.4
1.5
1.0
3 Annualized income: Multiply line 1 by line 2 .......................................................
3
4 Enter your itemized deductions for the period shown in each column. If you
do not itemize, enter “zero” and skip to line 7 ......................................................
4
4.0
2.4
1.5
1.0
5 Annualized amounts ............................................................................................
5
6 Annualized itemized deductions: Multiply line 4 by line 5 ...................................
6
7 Enter your standard deduction from Arizona Form 140, line 16,
Form 140PY, line 19, or Form 140NR, line 19 .....................................................
7
8 Enter the amount from line 6 or line 7, whichever is larger ..................................
8
9 Subtract line 8 from line 3 ....................................................................................
9
10 Enter the amount allowed for personal, blind, over 65, dependent, and
qualifying parent or grandparent exemptions claimed on your
Arizona Form 140, Form 140PY, or Form 140NR ................................................ 10
11 Subtract line 10 from line 9 .................................................................................. 11
12 Figure your tax on the amount on line 11 using Tax Table X or Y ........................ 12
13 For each period, enter the amount of tax credits allowed on your Arizona
Form 140, Form 140PY, or Form 140NR ............................................................. 13
14 Subtract line 13 from line 12. If zero or less, enter “zero” ................................... 14
22.5%
45%
67.5%
90%
15 Applicable percentages ........................................................................................ 15
16 Multiply line 14 by line 15 ..................................................................................... 16
17 Enter the combined amounts of line 23 from all preceding columns. .................. 17
18 Subtract line 17 from line 16. If less than zero, enter “zero” ............................... 18
19 Divide line 9 from page 1, of this Form 221, by four (4), and enter the result
in each column ..................................................................................................... 19
20 Enter the amount from line 22 of the preceding column of this worksheet .......... 20
21 Add lines 19 and 20, and enter the total .............................................................. 21
22 If line 21 is more than line 18, subtract line 18 from line 21. Otherwise,
enter “zero” .......................................................................................................... 22
23 Enter the smaller of line 18 or line 21 here and on page 1, line 11. .................... 23
Print Form
ADOR 10642 (12)
AZ Form 221 (2012)
Page 2 of 2

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