Form 2220-K - Underpayment And Late Payment Of Estimated Income Tax And Llet - 2014 Page 2

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2220-K
Page 2
*1400030308*
41A720-S6 (10-14)
Commonwealth of Kentucky
DEPARTMENT OF REVENUE
➤ See instructions.
PART III—LATE PAYMENT INTEREST
(a)
(b)
(c)
1. Enter the LLET liability in column (a),
income tax liability in column (b) and total
liability in column (c) ........................................
1
00
00
00
2. Enter statutory exemption ...................................
2
00
00
$5,000
00
3. Line 1 less line 2 ................................................
3
00
00
00
4. Divide line 3, column (a) and column (b) by
line 3, column (c) and enter the respective
percentages (rounded to the nearest whole
percent) on line 4, columns (a) and (b) ................
4
%
%
100
%
5. Installment due dates .......................................
5
6. Required estimated tax installments due ........
6
00
00
00
7. Estimated tax paid for each period. For
column (a) only, enter the amount on line
7 and line 11 .......................................................
7
00
00
00
8. Enter amount, if any, from line 14 of
preceding column .............................................
8
00
00
00
9. Add lines 7 and 8 .................................................
9
00
00
00
10. Add amounts, if any, from lines 12 and 13
of preceding column .........................................
10
00
00
11. Subtract line 10 from line 9. If zero or less,
enter -0- ................................................................
11
00
00
00
12. If amount on line 11 is zero, subtract line 9
from line 10. Otherwise, enter -0- ....................
12
00
00
13. Underpayment. If line 11 is less than or
equal to line 6, subtract line 11 from line 6 .....
13
00
00
00
14. Overpayment. If line 6 is less than line 11,
subtract line 6 from line 11 ...............................
14
00
00
00
15. The date the underpayment on line 13
was paid or the 15th day of the 4th month
after the close of the tax year, whichever is
earlier .................................................................
15
16. Interest on the tax underpayment on line 13
(see worksheet on page 4) ...............................
16
00
00
00
PART IV—TOTAL INTEREST
1. Add the amounts in Part III, line 16 (all
columns) and multiply this amount by
the percentages in each column of Part III,
line 4 and enter the amounts on Part IV,
line 1, columns (a), (b) and (c), respectively ...
1
00
00
00

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