Form Sc2220 - Underpayment Of Estimated Tax By Corporations - 2011

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STATE OF SOUTH CAROLINA
1350
1350
SC2220
DEPARTMENT OF REVENUE
UNDERPAYMENT OF ESTIMATED TAX
(Rev. 1/10/12)
3099
BY CORPORATIONS
2011
Attach to your tax return.
Name
Employer identification number
Required Annual Payment
Part I
1
Total tax (line 11, SC1120; or comparable line for other income tax returns).
1
If the result is less than $100, do not complete the rest of this form. You do not owe the penalty . . .
2
Enter the tax shown on the corporation's 2010 income tax return (see instructions)
2
Caution: If the tax is zero or the tax year was for less than 12 months, skip this line . .
. . . . . .
3
Enter the smaller of line 1 or line 2. If the corporation is required to skip line 2, enter the amount
3
from line 1 on line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Reasons for Filing - Check the boxes below that apply. If any box is checked, the corporation must file SC2220
Part II
with the corporation's tax return, even if it does not owe the penalty. If the box on line 4 or line 5 applies, the
corporation may be able to lower or eliminate the penalty.
4
The corporation is using the adjusted seasonal installment method.
5
The corporation is using the annualized income installment method.
6
The corporation is a "large corporation" figuring its first required installment based on the prior year's tax.
Part III
Figuring Your Underpayment
(a)
(b)
(c)
(d)
7 Installment due dates. Enter in columns (a) through (d)
the 15th day of the 4th, 6th, 9th, and 12th months of the
corporation's tax year . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
8 Required installments. If the box on line 4 and/or line 5
above is checked, see instructions for the amounts to
enter. If the box on line 6 (but not 4 or 5) is checked, see
instructions for the amount to enter by a large corporation.
If none of these boxes are checked, enter 25% of line 3
above in each column . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
9 Estimated tax paid or credited for each period. For
9
column (a) only, enter the amount from line 9 on line 13. .
Complete lines 10 through 16 for one column before
going to the next column.
10
10
Enter amount, if any, from line 16 of preceding column . .
11
11 Add lines 9 and 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12 Add amounts on lines 14 and 15 of the preceding column
and enter the result . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12
13
13 Subtract line 12 from line 11. If zero or less, enter -0-. . . .
14 If the amount on line 13 is zero, subtract line 11 from line
12 and enter the result. Otherwise, enter -0-. . . . . . . . . . .
14
15 Underpayment. If line 13 is less than or equal to line 8,
subtract line 13 from line 8 and enter the result. Then go
to line 10 of the next column. Otherwise, go to line 16 . . .
15
16 Overpayment. If line 8 is less than line 13, subtract line 8
from line 13 and enter the result. Then go to line 10 of the
next column . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16
Go to Part IV on page 2 to figure the penalty. If there are no entries on line 15, no penalty is owed.
30991020

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