Instructions For Arizona Form 220 - Underpayment Of Estimated Tax By Corporations - 2014 Page 5
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5Arizona Form 220
Line 8 - Nonrefundable Tax Credits
Line 33 - Tax From Recapture of Tax Credits
Enter the total amount of nonrefundable tax credits to which
Calculate the tax from the recapture of the environmental
the taxpayer is entitled because of events that occurred during
technology facility credit, the credits for healthy forest
the months shown in the column headings used to calculate
enterprises, the credit for renewable energy industry or the
annualized taxable income. Calculate this amount using the
credit for qualified facilities. Use the instructions for
instructions for Form 99T, line 9; or Form 120, line 19; or
Form 99T, line 7; or Form 120, line 17; or Form 120A, line 9;
Form 120A, line 11; or Form 120S, line 15.
or Form 120S, line 13.
Line 10 - Refundable Tax Credits
Line 35 - Nonrefundable Tax Credits
Enter the total amount of refundable tax credits to which the
Enter the total amount of nonrefundable tax credits to which
taxpayer is entitled because of events that occurred during the
the taxpayer is entitled because of events that occurred during
months shown in the column headings used to calculate
the months shown in the column headings above line 17.
annualized taxable income. Calculate this amount using the
Calculate this amount using the instructions for Form 99T,
instructions for Form 99T, line 12; or Form 120, line 22; or
line 9; or Form 120, line 19; or Form 120A, line 11; or
Form 120A, line 14; or Form 120S, line 18.
Form 120S, line 15.
Line 11 - Claim of Right Adjustment (Forms 120
Line 37 - Refundable Tax Credits
and 120A)
Enter the total amount of refundable tax credits to which the
taxpayer is entitled because of events that occurred during the
A taxpayer that computes its tax liability under the claim of
months shown in the column headings above line 17.
right provisions should base its estimated tax liability on the
Calculate this amount using the instructions for Form 99T,
net tax liability computed under the claim of right provisions.
line 12; or Form 120, line 22; or Form 120A, line 14; or
Line 15 - Cumulative Installments
Form 120S, line 18.
Complete column (a) before completing columns (b) through (d).
Line 38 - Claim of Right Adjustment (Forms 120
Before completing line 15 in columns (b) through (d),
and 120A):
complete line 16, Part II (if applicable), and Part III, in each
of the preceding columns.
A taxpayer that computes its tax liability under the claim of
right provisions should base its estimated tax liability on the
EXAMPLE: Complete line 16, lines 17 through 42 (if using
net tax liability computed under the claim of right provisions.
the adjusted seasonal installment method), and lines 43 through
48, in column (a) before completing line 15 in column (b).
Line 41 - Cumulative Installments
Complete column (a) before completing columns (b) through (d).
Part II - Adjusted Seasonal Installment Method
Before completing line 41 in columns (b) through (d),
Do not complete this part unless the taxpayer's base period
complete lines 42 through 48 in each of the preceding columns.
percentage for any six consecutive months of the taxable year
EXAMPLE: Complete lines 42 through 48 in column (a) before
equals or exceeds 70 percent. The term "base period
completing line 41 in column (b).
percentage" for any period of six consecutive months is the
average of the three percentages calculated by dividing the
taxable income for the corresponding six month period in
each of the three preceding taxable years by the taxable
income for each of their respective taxable years.
Line 26 - Calculate the Tax
Calculate the tax on the amount in each column using the
instructions for Form 99T, line 6; or Form 120, line 16; or
Form 120A, line 8; or Form 120S, line 12.
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