Form F-2220 - Underpayment Of Estimated Tax On Florida Corporate Income/franchise Tax

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F-2220

Underpayment of Estimated Tax on Florida

R. 01/15

Corporate Income/Franchise Tax

Rule 12C-1.051

Florida Administrative Code

Effective 01/15

For Tax Year:

Federal Employer Identification Number (FEIN): ______________________________________________

Beginning

Name: __________________________________________________________________________________

Address: ________________________________________________________________________________

Ending

City/State/ZIP: __________________________________________________________________________

Total income/franchise tax due for the year (enter from Florida Form F-1120, Line 13)

90% of Line 1

Enter in Columns 1 through 4 the installment dates that correspond to

Computation of Underpayments

the last day of the 4th, 6th, and 9th month and the last day of the tax

Due Dates of Installments

year.

(3rd)

(1st)

(2nd)

(4th)

Enter 25% of Line 2 in Columns 1 through 4

(a) Amount paid for each period

(b) Overpayment credit from prior year

Total of Lines 4(a), 4(b), and 4(c)

Underpayment (Line 3 less Line 5) or overpayment (Line 5

less Line 3). An overpayment on Line 6 in excess of all prior

underpayments is to be applied as a credit against the next

installment. (See Line 4c)

Exception that avoids penalty and interest

Total cumulative amount paid (or credited) from the beginning of

the taxable year through the installment date indicated.

25% of tax

75% of tax

100% of tax

50% of tax

8(a). Tax on prior year’s income using current year’s rates:

8(b). Cumulative donations made on or after July 1, 2014, to nonprofit

scholarship-funding organizations (SFOs) from the beginning of the

taxable year through the installment date indicated. Certificate of

contribution must be issued on or before installment due date.

8(c). Line 8(a) less Line 8(b). This is the prior year exception adjusted for

the credit for contributions to SFOs per section (s.) 1002.395(5)(f),

Florida Statutes (F.S.)

Check below if the exception applies for each underpaid installment [Line 7 must equal or exceed Line 8(c)]

Attach a schedule showing the computation. If the exception does not apply, complete Lines 9 through 14 to determine the amount of the penalty and interest.

Exception:

1st Installment

2nd Installment

3rd Installment

4th Installment

■

If Line 6 shows an underpayment and the

Computation of Penalty and Interest

exception does not apply, compute the

Due Dates of Installments

underpayment penalty and interest by completing

(2nd)