Indiana Department of Revenue
Schedule
Underpayment of
URT-2220
Estimated Utility Receipts Tax
State Form 51252
(R8/8-12)
Beginning
2012 and Ending
The purpose of this schedule is to calculate the penalty for underpayment of utility receipts tax on a quarterly basis. The penalty is 10
percent of the total quarterly underpayments unless an exception to the penalty is met for a quarter in Part II.
Name of Corporation or Organization
Federal Identification Number
Part I - Calculation of Minimum Quarterly Payment (use a minus sign to denote a negative amount)
00
1. Enter utility receipts tax due (line 16 of Form URT-1); if less than $2,500, enter -0- . ................. 1
2,500
X .80
2. Multiply line 1 by 80% and enter result on line 3 ......................................................................... 2
2,000
00
3.
Minimum required payment of utility receipts tax liability for the taxable year ................................ 3
4. Enter prior year's utility receipts tax liability (do not reduce by estimated taxes paid) that is
relative to the number of months in the current taxable year ...................................................... 4
00
Part II - Calculation of Quarterly Underpayment or Exception to the Penalty
00
5. Enter line 3 or line 4, whichever amount is less .......................................................................... 5
(a)
(b)
(c)
(d)
1st quarter
2nd quarter
3rd quarter
4th quarter
6. Enter in columns (a) through (d) the quarterly installment
due dates corresponding to the 20th day of the 4th, 6th,
/
/
/
/
/
/
/
/
9th, and 12th months of the tax year . ................................... 6
7. Enter the amount of utility receipts tax paid or credited on
or before the due date of the quarterly installment . .............. 7
8. Enter the overpayment, if any, from the preceding column
in excess of any prior underpayments shown on line 11 . ..... 8
9. Add lines 7 and 8 for each column ....................................... 9
10. Divide line 5 by 4 or by the number of quarters in the
taxable year; enter result in columns (a) through (d) . ........... 10
11. Subtract line 10 from line 9 for each quarter ........................ 11
(If the result is a negative figure, you have not met an
exception to the penalty for the quarter.)
Part III - Calculation of Quarterly Underpayment Penalty
12. Enter the overpayment, if any, from the preceding column
in excess of any prior underpayments shown on line 15. 12
13. Add line 7 and line 12 for each column ................................ 13
14. Divide line 1 by 4 or by the number of quarters
in the taxable year, but the divisor cannot be less than 1.
Enter the result in each applicable column . .......................... 14
625.00
625.00
625.00
625.00
15. Subtract line 14 from line 13 for each column. If result is a
negative figure, that is the underpayment for this quarter. ... 15
-625.00
-625.00
-625.00
-625.00
16. If line 11 shows zero or more for a quarter, the overpay-
ment exception is met. Enter zero on line 16. Otherwise,
compute 10% penalty on the underpayment shown
on line 15 for each column. Enter the penalty, if any, for
the quarter as a positive figure ............................................. 16
17. Add line 16, columns (a) through (d). This is the total underpayment penalty. Enter it here and
carry the amount to Form URT-1, line 23 ........................................................................................ 17
00
*20412111594*
20412111594