Arizona Form 220 - Underpayment Of Estimated Tax By Corporations - 2015

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Arizona Form
2015
Underpayment of Estimated Tax by Corporations
220
Include with the corporation’s return.
M M D D
2 0 1 5 and ending
M M D D
2 0
Y Y
For the calendar year 2015 or fiscal year beginning
.
Name as shown on Form 99T, 120, 120A, 120S
Employer identification number (EIN)
In most cases, the taxpayer DOES NOT HAVE TO FILE Form 220. (See Part A below for exceptions.) The department will compute any
penalty due and bill the taxpayer. (If the taxpayer does not have to file Form 220, the form may still be used to compute the penalty.
Enter the amount of the penalty on the estimated tax underpayment penalty line of the taxpayer’s return. Do not check the box on
that line of the return or include Form 220 with the return.)
Part A
Reasons for Filing Form 220
Check the boxes below that apply to the taxpayer. If any box is checked, the taxpayer must file Form 220 with the taxpayer’s tax return, even though no penalty is due. See
page 2 of the instructions.
1
The taxpayer is using the annualized income installment method.
2
The taxpayer is using the adjusted seasonal installment method.
3
Forms 120 and 120A only: The taxpayer is a “large corporation” computing its first required installment based on the prior taxable year’s tax liability.
4
Form 120S only: The taxpayer is computing its required annual payment based on an amount equal to the sum of:
(a) ninety percent of the portion of the current taxable year’s liability attributable to built-in gains income or certain capital gains income; plus
(b) one hundred percent of the portion of the prior taxable year’s tax liability attributable to excess net passive income.
Part B
Calculation of Underpayment
5 2015 Arizona tax liability from Form 99T, line 11 less line 12; or Form 120, line 21 less line 22; or Form 120A, line 13 less line 14; or
00
Form 120S, line 17 less line 18. Taxpayers with a claim of right tax calculation. See instructions ............................................................
5
6 REQUIRED ANNUAL PAYMENT:
a Enter 90 percent of line 5 ................................................................................................................
6a
00
b Forms 99T, 120, and 120A: Enter the tax as shown on the 2014 return. See instructions .......................
6b
00
00
c Form 120S. See instructions ............................................................................................................
6c
d Forms 99T, 120, and 120A: Enter the smaller of line 6a or line 6b.
Form 120S. Enter the smaller of line 6a or line 6c ............................................................................................................................
6d
00
(a)
(b)
(c)
(d)
7 Installment due dates:
In columns (a) through (d), enter
the 15th day of the 4th, 6th, 9th, and 12th months of the
taxable year .........................................................................
7
M M D D Y Y
M M D D Y Y
M M D D Y Y
M M D D Y Y
8 Required installments: If the box on line 1 and/or line 2
above is checked, enter the amounts from Schedule A, Part III,
line 48. If the box on line 3 above is checked (but not the
box on line 1 or line 2), see instructions, page 3, for the
amounts to enter. If the box on line 4 above is checked, or if
none of these boxes are checked, enter 25 percent of line 6d in
each column ........................................................................
8
9 Estimated tax paid or credited for each period (see
instructions pages 3 and 4): For column (a) only skip lines
10 through 12. Enter the amount from line 9 on line 13 .........
9
Complete lines 10 through 16 of one column before completing the next column.
10 For columns (b) through (d) only: Enter the amount, if
any, from line 16 of the preceding column .............................. 10
11 For columns (b) through (d) only: Add lines 9 and 10.
Enter the total ...................................................................... 11
12 For columns (b) through (d) only: Add the amounts on
lines 14 and 15 of the preceding column ................................ 12
13 For columns (b) through (d) only: Subtract line 12 from
line 11. If zero or less, enter zero ......................................... 13
14 For columns (b) and (c) only: If the amount on line 13 is
zero, subtract line 11 from line 12. Otherwise, enter zero ........ 14
15 Underpayment: If line 13 is less than or equal to line 8,
subtract line 13 from line 8. Then, go to line 10 of the next
column (see instructions page 4). Otherwise, go to line 16 ..... 15
16 Overpayment: If line 8 is less than line 13, subtract line 8
from line 13. Then, go to line 10 of the next column .............. 16
ADOR 10342 (15)

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