AR2220A
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State of Arkansas
Annualized Income For Underpayment of
Estimated Tax by Corporations
Tax Year beginning _____ / ______ / ______ and ending ______ / _____ / _____
CORPORATION
FEIN
PART 1
Annualized Income Method
(A)
(B)
(C)
(D)
Period
First
First
First
3 months
6 months
9 months
1.
Enter taxable income for each period: (Attach Quarterly Income Statement)
1
2.
Annualization amounts:
2
4
2
1.33333
3.
Annualized taxable income: (Line 1 x Line 2)
3
Period
First
First
First
First
3 months
5 months
8 months
11 Months
4.
Enter taxable income for each period: (Attach Quarterly Income Statement)
4
5.
Annualization amounts:
5
4.0
2.4
1.5
1.09091
6.
Annualized taxable income: (Line 4 x Line 5)
6
7.
Adjusted annualized taxable income: (In Column (A), enter the amount from
Line 6, Column (A). In Columns (B), (C), and (D), enter the smaller of the
amounts in each column on Line 3 or Line 6)
7
8.
Tax: Compute tax from Tax Table on amount in each Column on Line 7.
8
9.
Business and Incentive Credit: (Enter one-fourth (1/4) of Business
and Incentive Credits as allowed on AR1100CT, Line 34, for each period)
9
10.
Total tax after credit: (Line 8 less Line 9, if zero or less, enter zero)
10
11.
Applicable percentage:
11
22.5%
45%
67.5%
90%
12.
Annualized tax: (Line 10 x Line 11)
12
13.
Add the amounts in all preceding columns of Line 20: (See Instructions)
Note: Complete Col. (A) before Col. (B), (B) before (C), and (C) before (D).
13
14.
Adjusted Annualized Tax: (Line 12 less Line 13, if zero or less, enter zero)
14
PART 2
Required Estimates
(A)
(B)
(C)
(D)
Period
1st
2nd
3rd
4th
Quarter
Quarter
Quarter
Quarter
15.
Adjusted Annualized Tax: (Enter the amounts in each Column from Line 14)
15
16.
Divide Line 3, Form AR2220 by 4 and enter the result in each Column:
16
17.
Enter the amount from Line 19 of the preceding column:
17
18.
Add Line 16 and 17:
18
19.
If Line 18 is more than Line 15, subtract Line 15 from Line 18,
otherwise enter zero:
19
20.
Required Estimates: Enter the smaller of Line 15 or Line 18 here and
on Form AR2220, Column B, Line 2, 5, 8, and 11.
20
1
