Form Rpd-41287 - Calculation Of Estimated Corporate Income Tax Penalty And Interest On Underpayment - 2013 Page 3

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New Mexico Taxation and Revenue Department
RPD-41287 (2013)
Rev. 12/13/2013
2013 Calculation of Estimated Corporate Income Tax
Penalty and Interest on Underpayment
(page 3 of 3)
Section III: continued
1st Quarter 2nd Quarter 3rd Quarter
4th Quarter
(a)
(b)
(c)
(d)
25. Number of days on line 12, after 9/30/2014 and before 1/1/2015.
25.
26. Underpayment on line 9 X Number of days on line 25 X ____% =
365
26.
27. Number of days on line 12, after 12/31/2014 and before 2/16/2015.
27.
Number of days on line 27
28. Underpayment on line 9 X
X ____% =
365
28.
29. For each column, add lines 14, 16, 18, 20, 22, 24, 26 and 28.
29.
30. Add columns (a) through (d) of line 29. Enter the total here. This
is your total interest on underpayment of estimated income tax.
30.
Section IV: Compute the penalty on underpayment of esti-
1st Quarter 2nd Quarter 3rd Quarter
4th Quarter
mated installment payments. Complete Section IV to calculate
the penalty you owe.
(a)
(b)
(c)
(d)
31.
Penalty. Multiply the underpayment from line 9 by the number
of months or partial months that the payment was not made
by 0.02, not to exceed 20% of the amount of underpayment. A
month begins on the day after the due date of the installment
31.
payment and ends on the 15th of each subsequent month.
32.
Total Penalty. Enter the sum of columns (a) through (d) on line
31. This is the total penalty due on underpayment of estimated
corporate income tax.
32.
Section V: Compute the penalty and interest on underpay-
ment of estimated installment payments. Complete Section V
to calculate the penalty and interest you owe.
33.
Total Interest and Penalty. Enter the sum of lines 30 and 32 on
line 33. This is the total interest and penalty due on underpay-
ment of estimated corporate income tax.
33.

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