Form Ct-1120 - Computation Of Interest Due On Underpayment Of Estimated Tax - 2013
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4Form CT-1120
I
Department of Revenue Services
2013
State of Connecticut
Computation of Interest Due on Underpayment of Estimated Tax
(Rev. 12/13)
Enter Income Year Beginning ____________________________ , 2013, and Ending _________________________ , ________
Corporation name
Connecticut Tax Registration Number
Part I – Computation of Required Annual Payment
1. Tax due from 2013 Form CT-1120 or Form CT-1120U, Schedule C, Line 6, minus Schedule C,
Line 1c; Form CT-1120CR, Part IV, Line 13, minus Part IV, Line 4; or Form CT-990T, Computation of
Amount Payable, Line 5. See instructions. .................................................................................................... 1.
2. Multiply Line 1 by 90% (.90). .......................................................................................................................... 2.
3. Tax from 2012 Form CT-1120 or Form CT-1120U, Schedule C, Line 1, minus Schedule C, Line 1c;
or Form CT-1120CR, Part IV, Line 7, minus Part IV, Line 4; or Form CT-990T, Computation of Amount
Payable, Line 3. See instructions. .................................................................................................................. 3.
4. Multiply Line 3 by 100% (1.00). ...................................................................................................................... 4.
5. Required annual payment: Enter the lesser of Line 2 or Line 4. .................................................................... 5.
Part II – Computation of Required Installments
6. First required installment: Multiply Line 5 by 30% (.30). Enter here and on Part III,
Line 13, Column A, or Part IV, Line 10a. ........................................................................................................ 6.
7. Second required installment: Multiply Line 5 by 40% (.40). Enter here and on Part III,
Line 13, Column B, or Part IV, Line 13c. ........................................................................................................ 7.
8. Third required installment: Multiply Line 5 by 10% (.10). Enter here and on Part III,
Line 13, Column C, or Part IV, Line 16c. ........................................................................................................ 8.
9. Fourth required installment: Multiply Line 5 by 20% (.20). Enter here and on Part III,
Line 13, Column D, or Part IV, Line 19c. ........................................................................................................ 9.
Part III – Annualized Income Installment Schedule
Estimated Payment Calculation
First 2
First 5
First 8
First 11
D
A
B
C
Months
Months
Months
Months
1. Enter your Connecticut corporation business income
for each period. See instructions.
6
2.4
1.5
1.09091
2. Annualization factor
3. Annualized Connecticut corporation business
income: Multiply Line 1 by Line 2.
4. Multiply Line 3 by 7.5% (.075).
5. Enter amounts for surtax and preference tax, if applicable.
6. Add Line 4 and Line 5.
7. Corporation business tax credits: See instructions.
8. Total annualized corporation business tax: Subtract
Line 7 from Line 6.
.27
.63
.72
.90
9. Applicable percentages
10. Multiply Line 8 by Line 9.
11. Add the amounts in all preceding columns of Line 17.
See instructions.
12. Annualized income installment using net income: Subtract
Line 11 from Line 10. If zero or less, enter “0.”
13. Enter your required installment for the period.
See instructions.
14. Enter the amount from Line 16 of the preceding
column of this worksheet.
15. Add Line 13 and Line 14 and enter here.
16. If Line 15 is more than Line 12, subtract Line 12
from Line 15 (otherwise enter “0”).
17. Enter the lesser of Line 12 or Line 15.
18. Total required installment for the period: Add Line 11
and Line 17.
19. Estimated tax payments made through the due date
for the period
20. Estimated tax payment required by the next due
date: Subtract Line 19 from Line 18 and enter the
result, but not less than “0.”
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