80-320 Form Mississippi Individual Income Tax Interest And Penalty Worksheet Page 3

Download a blank fillable 80-320 Form Mississippi Individual Income Tax Interest And Penalty Worksheet in PDF format just by clicking the "DOWNLOAD PDF" button.

Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.

Complete 80-320 Form Mississippi Individual Income Tax Interest And Penalty Worksheet with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.

Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.

ADVERTISEMENT

Form 80-320-16-8-3-000 (Rev. 4/16)
Mississippi
Individual Income Tax
Underestimate Computation Example
Line 5
Required installments. Enter 1/4th (.25) of line 4 in each columns A through D. Divide the amount on Line 4 by (4) four and
enter in each column A through D.
Income tax withheld (column A only) and estimated tax paid. For column (A) only, enter the total overpayment from prior
Line 6
year, estimated tax paid and/or withholding as of payment due date. In remaining columns B through D enter estimated
tax paid as of payment due dates on line 6. If line 6 is equal to or more than line 4 for all payment periods, stop here; you do
not owe the penalty.
Line 7
Overpayment (negative) or underpayment (positive) - carryforward (from line 8) any overpayment or underpayment from
previous column(s) line 8.
Underestimate subject to interest (line 5 minus line 6 plus line 7); enter result here and on line 7, columns B through D.
Line 8
Line 9
Enter percentage of interest (compute interest at 7/10 of 1% per month from payment due date until paid or next payment due
date, whichever is earlier).
Interest due (multiply line 9 by line 10) if line 8 is negative enter zero on line 10.
Line 10
Total underestimate interest due (enter the total of line 10, columns A-D) If an overpayment is due, enter here and on
Line 11
Form 80-105, line 29, Form 80-205, line 31 or Form 80-110, line 14.
Example:
INTEREST ON UNDERPAYMENT OF ESTIMATED TAX
CALCULATION OF ESTIMATE PAYMENT
.
1
2016 Mississippi income tax liability
6520
(see instructions)
1
00
.
2
Multiply the amount on line 1 by 80% and enter the result
5216
2
00
4510
.
3
2015 Mississippi income tax liability
(see instructions)
3
00
.
4
Enter the lesser of line 2 or line 3
4510
(see instructions)
4
00
A
B
C
D
INTEREST CALCULATION
Apr-15-2016
Jun-15-2016
Sept-15-2016
Jan-15-2017
5
Required installements Enter 1/4th (.25) of line 4 in columns A
1127.50
1127.50
1127.50
1127.50
through D)
6
Income tax withheld (column (A) only) and estimated tax paid
(enter total estimated tax paid as of payment due dates in columns
1500.00
1000.00
500.00
0.00
A through D. Income tax withheld is entered in column A only.
7
Overpayment (negative) or underpayment (positive) - carryforward
(from line 8) any overpayment or underpayment from previous
column(s) line 8.
(372.50)
(245.00)
382.50
8
Underestimate subject to interest (line 5 minus line 6 plus line 7);
(372.50)
(245.00)
382.50
1510.00
enter result here and on line 7, columns B through D.
9
Enter percentage of interest (compute interest at 7/10 of 1% per
month from payment due date until paid or next payment due
date, whichever is earlier)
0.014
0.021
0.028
0.021
10 Interest due (multiply line 8 by line 9; if line 8 is negative, enter
zero)
0.00
0.00
10.71
31.71
11 Total underestimate interest due (enter the total of line 10,
42.42
columns A through D)
11

ADVERTISEMENT

00 votes

Related Articles

Top 20 Happy Easter Cards And Gift Tags To Download For Free
Top Ten Easter Arts And Crafts Activities For Your Kids
Free Easter Coloring Pages And Easter Printables For Your Kids

Related forms

Form 80-320-12-8-1-000 - Mississippi Individual Income Tax Interest And Penalty Worksheet Form 80-320-12-8-1-000 - Mississippi Individual Income Tax Interest And Penalty Worksheet Financial
Form 80-320-14-8-1-000 - Mississippi Individual Income Tax Interest And Penalty Worksheet Form 80-320-14-8-1-000 - Mississippi Individual Income Tax Interest And Penalty Worksheet Financial
Form 80-320-17-8-1-000 - Mississippi Individual Income Tax Interest And Penalty Worksheet Form 80-320-17-8-1-000 - Mississippi Individual Income Tax Interest And Penalty Worksheet Financial
80-106 Form Mississippi Individual / Fiduciary Income Tax Voucher 80-106 Form Mississippi Individual / Fiduciary Income Tax Voucher Financial
80-491 Form Additional Dependents Mississippi Individual Income Tax Statement - 2016 80-491 Form Additional Dependents Mississippi Individual Income Tax Statement - 2016 Financial
Form 80-115-12-8-1-000 - Mississippi Individual Income Tax Declaration For Electronic Filing - 2012 Form 80-115-12-8-1-000 - Mississippi Individual Income Tax Declaration For Electronic Filing - 2012 Financial
Form 80-491-12-8-1-000 - Mississippi Individual Income Tax Statement Of Additional Dependents - 2012 Form 80-491-12-8-1-000 - Mississippi Individual Income Tax Statement Of Additional Dependents - 2012 Financial
Form 80-305 - Instructions For Prior Year Mississippi Individual Income Tax Returns Form 80-305 - Instructions For Prior Year Mississippi Individual Income Tax Returns Financial
Form 80-491-17-8-1-000 - Mississippi Individual Income Tax Statement Of Additional Dependents - 2017 Form 80-491-17-8-1-000 - Mississippi Individual Income Tax Statement Of Additional Dependents - 2017 Financial
Form Mo-1040p - Missouri Individual Income Tax Return And Property Tax Credit Claim/pension Exemption - Short Form - 2006 Form Mo-1040p - Missouri Individual Income Tax Return And Property Tax Credit Claim/pension Exemption - Short Form - 2006 Financial

Related Categories

Parent category: Financial
Download
Go
Page of 3