Form F-2220 - Underpayment Of Estimated Tax On Florida Corporate Income/franchise And Emergency Excise Tax
ADVERTISEMENT
1
2F-2220
Underpayment of Estimated Tax on Florida
R. 01/09
Corporate Income/Franchise and Emergency Excise Tax
Rule 12C-1.051
Florida Administrative Code
Effective 01/09
For Tax Year:
Federal Employer Identification Number (FEIN): ______________________________________________
Name: __________________________________________________________________________________
Beginning
/
/
Address: ________________________________________________________________________________
Ending
/
/
City/State/ZIP: __________________________________________________________________________
1.
Total income/franchise and emergency excise tax due for the year (enter from Form F-1120, Line 14)
2.
90% of Line 1
Computation of Underpayments
Enter in Columns 1 through 4 the installment dates that correspond to
Due Dates of Installments
the last day of the 4th, 6th, and 9th month and the last day of the tax
year.
(3rd)
(1st)
(2nd)
(4th)
3.
Enter 25% of Line 2 in Columns 1 through 4
4.
(a) Amount paid for each period
(b) Overpayment credit from prior year
(c) Overpayment of previous installment
5.
Total of Lines 4(a), 4(b), and 4(c)
6.
Underpayment (Line 3 less Line 5) or overpayment (Line 5
less Line 3). An overpayment on Line 6 in excess of all prior
underpayments is to be applied as a credit against the next
installment. (See Line 4c)
Exception that avoids penalty and interest (See Instructions, Item D)
7.
Total cumulative amount paid (or credited) from the beginning of
taxable year through the installment date indicated
25% of tax
75% of tax
100% of tax
50% of tax
8.
Exception: Tax on prior year’s income using current year’s rates
Check below if the exception applies for each underpaid installment.
Attach a schedule showing the computation. If the exception does not apply, complete Lines 9 through 14 to determine the amount of the penalty and interest.
Exception:
1st Installment
2nd Installment
3rd Installment
4th Installment
■
■
■
■
If Line 6 shows an underpayment and the
Computation of Penalty and Interest
exception does not apply, compute the
Due Dates of Installments
underpayment penalty and interest by completing
(2nd)
(1st)
(3rd)
(4th)
the portion(s) of this schedule applicable to the
installments.
Enter same installment dates used above
9.
Amount of underpayment
10. Enter the date of payment or the 1st day of
the 4th month after the close of the taxable
year, whichever is earlier
11. Number of days from due date of installment
to the dates shown on Line 10
Total Penalty
12. Penalty on underpayment (12% per year on
the amount of underpayment on Line 9 for
the number of days shown on Line 11)
Total Interest
13. Interest on underpayments. In general,
interest will be the appropriate interest rate
on the amount of underpayment on Line 9
for the number of days shown on Line 11
14. Total of amounts shown on Lines 12 and 13. If this Form F-2220 is being filed with your return, the amounts shown as penalty and
interest should be entered on appropriate line of Form F-1120 ...............................................................
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial