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Exception 3 worksheet—To figure annualized income
(a)
(b)
(c)
(d)
15. Number of months in
annualization period (see
•
•
•
•
instructions) ....15
16. Actual income for the period
on line 15, less net losses
carried forward from prior
•
•
•
•
tax years .........16
17. Annualization factors based
on selected annualized period
(see instr.) .......17
18. Annualized income (line
16 x line 17) ....18
19. Annualized tax (see tax rate chart
in instr. for Form 20, 20-I, 20-INS,
or 20-S) .............19
20. Less credits corporation
is entitled to for months
shown in each column
•
•
•
•
on line 15 ........20
21. Net annualized tax (use to
figure line 13) ...21
Part III—Interest on underpayments (see instructions)
(a)
(b)
(c)
(d)
22. Enter the amount of under-
payment from line 10. If no
underpayment, enter 0 ...22
23. Date estimated
payment was due .........23
24. Date underpayment was
paid or the due date of
the following installment,
whichever is earlier .......24
25. Number of full months
between dates on
lines 23 and 24 .............25
26. Number of days in a
partial month between
dates on lines 23 and 24 ...26
27. Number of full months
on line 25 x monthly
interest rates x line 22 ...27
28. Number of days on
line 26 x daily interest
rates x line 22 ...............28
29. Interest due (line 27
plus line 28) ..................29
30. Total interest due [add line 29, columns (a), (b), (c), and (d)] ......................................................................................... 30
Enter the amount from line 30 above on the “interest on underpayment of estimated tax” line of Form 20,
Form 20-I, Form 20-S, or Form 20-INS. Include this form with your return and check the “Form 37” box.
150-102-037 (Rev. 10-14) Form 37, page 2 of 3