Form 500up - Underpayment Of Estimated Maryland Income Tax By Corporations And Pass-Through Entities - 2012
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1
22012
FORM
UNDERPAYMENT OF ESTIMATED
500UP
MARYLAND INCOME TAX BY
CORPORATIONS AND
PASS-THROUGH ENTITIES
(ATTACH THIS FORM TO FORMS 500 OR 510)
TAX YEAR BEGINNING
2012, ENDING
Name as shown on Forms 500 or 510
Federal employer identification number (9 digits)
IMPORTANT: PLEASE REVIEW THE INSTRUCTIONS BEFORE COMPLETING THIS FORM.
EXCEPTIONS WHICH AVOID INTEREST AND PENALTY
NO INTEREST OR PENALTY IS DUE AND THIS FORM SHOULD NOT BE FILED IF:
A. The tax developed for the current tax year is $1,000 or less, or
B. Four payments of not less than 25% of the required estimated tax were filed on or before the 15th day of the 4th, 6th, 9th and
12th months of the tax year and total either (1) 90% of the tax developed for the current tax year or (2) 110% of the tax that
was developed for the prior tax year, or
C. If the entity has a short tax period of less than 4 months.
CALCULATION OF INTEREST AND PENALTY
1. Tax for current tax year (line 14 of Form 500 or line 15 of Form 510) less any Business Tax
Credits, Heritage Structure Rehabilitation Tax Credits or Sustainable Communities Tax Credits
1.
(or credit for tax paid on behalf of nonresident entities by a pass-through entity) . . . . . . . . . . .
2.
2. Enter 90% of the amount on line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3a. Tax for prior tax year (line 9 of prior year Form 500 or line 15 of Form 510) less any
Business Tax Credits, Heritage Structure Rehabilitation Tax Credits or Sustainable
3a.
Communities Tax Credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3b. Multiply line 3a by 110%. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3b.
4. Estimated tax required (Enter lesser of line 2 or line 3b) . . . . . . . . . . . . . . . . . . . . . . . . . .
4.
DUE DATES OF INSTALLMENT PERIODS
15th day
15th day
15th day
15th day
4th month
6th month
9th month
12th month
5. Installment periods . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1st Period
2nd Period
3rd Period
4th Period
6. Estimated payments required per installment period
(See instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7. Estimated tax paid per installment period on or before the
due date indicated and prior year’s overpayment applied
to estimated tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8. Underpayment per installment period
(Subtract line 7 from line 6) . . . . . . . . . . . . . . . . . . . . . .
9. Interest factors (See instructions) . . . . . . . . . . . . . . . . . .
10. Interest per installment period
(Multiply line 8 by factors on line 9) . . . . . . . . . . . . . . . .
11. Total interest (Add all amounts on line 10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11.
12. Penalty (See instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12.
13. Total interest and penalty (Add lines 11 and 12).
13.
Also enter this amount on line 18 of Form 500 or line 18 of Form 510 . . . . . . . . . . . . . . . .
COM/RAD-005
12-49
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