Form D-2220 Fillable Underpayment of Estimated Franchise Tax By Businesses(File with D-20)
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110% of the tax due (Line 38) on your 2012 DC franchise tax return 90% of the tax due (Line 38) on your 2013 DC franchise tax return; D 20ES Declaration of Estimated Franchise Tax for Corporations; or D 30ES Declaration of Estimated Franchise Tax for Unincorporated Franchise Tax By Businesses If you are filing the D 2220 form separately pay the amount you owe If you are filing the D 2220 with your D 20 or D 30 return include the Office of Tax and Revenue The franchise tax due for 2013 minus any estimated tax payments You had no DC franchise tax liability for the tax year 2012 and in that You may also complete this form if you believe the penalty amount You may use this form to calculate your penalty If you do attach it to Your remaining tax due after totaling all credits and estimated tax Your total DC estimated franchise tax payments are equal to or greater $8 000 for the 4th period (consisting of 12 months) 1 2013 DC franchise tax liability from Forms D 20 or D 30 $ 10 Line 8 multiplied by Line 9 11 Penalty Total of amounts from Line 10 Pay this amount (See D 2220 instructions) 1101 4th St SW 2nd Floor 1st period amount 3rd period includes 1st and 2nd period amounts the 2 Multiply the amount on Line 1 by 90% ( 90) $ 3 2012 DC franchise tax liability from Forms D 20 or D 30 X 110% $ 4 Minimum estimated tax requirement for tax year 2013 (lesser of Lines 2 and 3) $ 43 of the D 20 and D 30) for the year 4th period includes all period amounts) 4th periods For example if your estimated payment amount is $1 000 5 Multiply the amount on Line 4 by 25% ( 25) $ 6 Enter the amount from Line 5 or the annualized amount in each 6th 9th and 12th months after the end of the fiscal year 04/15/13 06/15/13 09/15/13 12/15/13 7 DC estimated taxes paid each period (the 2nd period includes the 8 Underpayment each period (Line 6 minus Line 7) 9 Penalty Factors 0175 0265 0262 0348 A 10% penalty compounded daily is assessed if your total DC estimated a DC franchise tax return last year and you must have been in business in DC for the entire year A penalty will be assessed if any statement made on an estimated tax A Your tax liability on taxable income after deducting DC applicable credits and estimated tax payments is less than $1001 or Add the amounts on Line 10 for each period This is your total amount on Line 41(b) of Forms D 20 or D 30 Fill in the oval if the amounts as shown above Check the Annualized Income box and attach to the D 2030P Payment Voucher using the applicable Annualized income method: If your income was different for each Are there any exceptions? assessed by OTR for underpayment of estimated franchise tax is Attach it to your return if you complete the form before filing your tax B You have made the required periodic DC estimated franchise tax payments and the total is equal to or more than 110% of Business Name (from your D 20 or D 30 return) Businesses by the full year s income) Multiply Line 4 by each period s percentage and Check here if you are using the Annualized Income method columns For example if Line 5 is $2000 you would enter $2000 for Completing this form Computation of Underpayment D 2220 is attached If you do not wish to calculate the penalty and D 2220 page 2 D 2220 Underpayment of Estimated Daytime telephone number DC franchise tax return for 2012 you may only use Line 2 This is your DC law requires any business that expects its DC franchise tax liability to distribution of your tax liability over the four periods of the tax year Due date of Payments Due dates shown are for calendar year; for fiscal year use the 15th day of the 4th 1st Period 2nd Period 3rd Period 4th Period Enter 110% of the amount from your 2012 DC Forms D 20 or D 30 Enter the amount from your 2013 D 20 or D 30 (Line 38) Enter the amount of estimated franchise tax payments made in each Enter the amount required from Line 5 under each of the payment enter the amounts earned by period on Line 6 Accumulate the periodic Enter the lesser of the amounts on Line 2 and Line 3 If you did not fi le a Estimated Tax Penalty exceed $1001 for the tax year to file a declaration of estimated franchise exception Federal Employer Identification Number (FEIN) For each column subtract Line 7 from Line 6 If Line 7 exceeds Line 6 For each period multiply the amount on Line 8 by the factor on Line 9 franchise tax if: franchise tax payments compared to your DC franchise tax liability do Franchise Tax? Government of the District of Columbia How do you file this form? IMPORTANT: Please read the instructions on the reverse before completing this form in each period you would enter $1 000 in the 1st period $2 000 in in the oval on Line 41(b) and attach the D 2220 to the return incorrect Instructions for Underpayment of Estimated Tax by D 20 or D 30 Filers interest OTR will do it when your return is processed and will notify is less than $1001; knowledge last year s taxes or 90% of the current year s taxes Note: In order to use the prior year 110% exception you must have fi led Line 1 Line 10 Line 11 Penalty Line 2 Line 3 Line 37 If your 2012 return was amended or corrected multiply 110% Line 4 Line 5 Line 6 Line 7 Line 8 Underpayment each period Line 9 Penalty Factors mailing address Make the check or money order payable to the DC Treasurer minimum estimated franchise tax payment for 2013 Multiply the amount on Line 1 by 90% ( 90) Your estimated franchise Multiply the amount on Line 4 by 25% ( 25) This gives you an even No penalty is due and this form should not be fi led if: not equal at least the smaller of: Note: If your income was not evenly received over 4 periods see instructions on the Office of Tax and Revenue payment voucher is not true and accurate to the best of the signatory s payments is less than 10% of your total DC franchise tax liability (Line penalty and any interest on the penalty in the amount you owe enter penalty assessment send it to: period (the 2nd period includes the 1st period amount 3rd period includes period determine the percentage for each period (divide the period income period Include the amounts from the previous period with the 2nd 3rd and Person to contact if there are questions return If you complete the D 2220 after filing and receiving a notice of reverse of this form on the Annualized Income method Revised 08/13 Revised 08/13D 2220 page 1 Social Security Number (SSN) tax payments must be equal to or greater than this amount tax using the payment vouchers in: than 110% of your 2012 DC franchise tax liability for the entire year; or that fails to pay the amount required by the due date is subject to an the 1st and 2nd period amounts the 4th period includes all period amounts) the 1st period $4000 for the 2nd period $6 000 for the 3rd period and the 2nd period $3 000 in the 3rd period and $4 000 in the 4th period the amount on Line 43 and pay the total amount with the return Fill The law states that any business required to file and pay estimated tax These are the penalty factors by period This is your penalty by period times the corrected amount underpayment amount underpayment of estimated franchise tax penalty underpayment of estimated franchise tax penalty and interest Washington DC 20024 When do you use this form? When is a penalty assessed for Underpayment of Estimated year you did business in DC for the entire 12 months; You are not subject to the penalty for underpayment of estimated you have no penalty If there is an amount remaining this is your periodic You must have filed a 2012 DC franchise tax return to use the 110% you of the amount due your tax return and add any penalty and interest you calculate to the