Form 2220-K - Instructions For Form 2220-K

2220-K

Page 4

41A720-S6 (10-16)

INSTRUCTIONS FOR FORM 2220-K, continued

Commonwealth of Kentucky

DEPARTMENT OF REVENUE

Line 6—Enter the amount of the estimated tax due

tax is applied against unpaid required installments in

(estimated tax due equals Line 3, Column (c)) for the

the order in which the installments are required to be

taxable year as follows: Enter 50% of the estimated tax

paid, regardless of the installment to which the payment

due under Column (a), 25% under Column (b) and 25%

pertains.

under Column (c).

Line 16—Enter the interest due on the tax underpayment

Line 7—Enter the estimated tax paid for each installment

on Line 13. If the corporation or limited liability pass-

period. Also, for the first installment, enter this amount on

through entity has more than one payment for the

Line 11. Estimated tax includes the credit from the prior

underpayment, attach a separate tax computation for

year, withholding tax, certified rehabilitation tax credit

each payment. The interest rate is 5 percent for calendar

and film industry tax credit. The withholding tax, certified

year 2017.

rehabilitation tax credit and film industry tax credit are

considered to have been paid based on the percentages

Worksheet for Interest Calculation

due on the estimated tax due dates as provided by the

instructions on Line 6, unless you can show otherwise.

Complete a separate worksheet for each underpayment

period.

Enter estimated tax payments as follows: (i) if the payment

was made on or before the 15th day of the sixth month,

Interest calculation

enter the payment under Column (a); (ii) if the payment

payment date ............................ ______/______/______

was made after the 15th day of the sixth month but on or

before the 15th day of the ninth month, enter the payment

Number of days from

under Column (b); (iii) if the payment was made after the

the payment due date

15th day of the ninth month but on or before the 15th day

shown on Part III, Line 5

of the twelfth month, enter the payment under Column (c);

to the date the amount

or (iv) if the payment was made after the 15th day of the

on Line 13 was paid, or

twelfth month, do not enter the payment on Line 7.

the date shown for that

column on Part III, Line

Line 8—Enter the amount from Line 14 of the preceding

15, whichever is earlier .............

__________________

column. This line does not apply to the first installment.

.05

Annual Percentage Rate (APR)

__________________

Line 9—Enter the total of Lines 7 and 8. This line does not

apply to the first installment.

Underpayment

Number of

APR on

Line 10—Enter the total of Lines 12 and 13 of the preceding

from Part III,

days from Line 2

Line 3

Line 13

of this worksheet

of this

column. This line does not apply to the first installment.

365

worksheet

Line 11—Enter the amount of Line 9 less Line 10. If zero

PART IV—TOTAL INTEREST

or less, enter zero (-0-). For the first installment, enter

the amount from Line 7.

Line 1—Add the amounts in Part III, Line 16 (all columns)

and multiply the total by the percentages on Part III, Line

Line 12—If the amount on Line 11 is zero, enter the amount

4, and enter the respective amounts on Line 1, Columns

of Line 10 less Line 9; otherwise, enter zero (-0-). This

(a), (b) and (c). Also, enter the interest amounts in Columns

line does not apply to the first installment.

(a) and (b) on the Tax Payment Summary under the LLET

summary and Income summary, respectively.

Line 13—If Line 11 is less than or equal to Line 6, enter

the amount of Line 6 less Line 11.

Line 14—If Line 6 is less than Line 11, enter the amount

of Line 11 less Line 6.

Line 15—Enter the date the underpayment on Line 13 was

paid or the 15th day of the fourth month after the close of

the tax year, whichever is earlier. A payment of estimated

Form 2220-K - Instructions For Form 2220-K - 2016 Page 2

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