Form F-2220 Fillable Underpayment of Estimated Tax on Florida Corporate Income/Franchise Tax R.01/15
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(b) Overpayment credit from prior year (c) Overpayment of previous installment A taxpayer may not use the prior year exception if Call Taxpayer Services 8 a m to 7 p m ET Exception: 1st Installment 2nd Installment 3rd Installment 4th Installment Note: The Florida Income Tax Code does not Visit the Department s website at (1st) (2nd) (3rd) (4th) 1 Total income/franchise tax due for the year (enter from Florida Form F 1120 Line 13) 10 Enter the date of payment or the 1st day of 100% of tax 11 Number of days from due date of installment 12 Penalty on underpayment (12% per year on 13 Interest on underpayments In general 14 Total of amounts shown on Lines 12 and 13 If this Florida Form F 2220 is being filed with your return the amounts shown as 2 90% of Line 1 25% of tax 3 Enter 25% of Line 2 in Columns 1 through 4 4 (a) Amount paid for each period 5 Total of Lines 4(a) 4(b) and 4(c) 50% of tax 6 Underpayment (Line 3 less Line 5) or overpayment (Line 5 7 Total cumulative amount paid (or credited) from the beginning of 75% of tax 8(a) Tax on prior year s income using current year s rates: 8(b) Cumulative donations made on or after July 1 2014 to nonprofit 8(c) Line 8(a) less Line 8(b) This is the prior year exception adjusted for 800 352 3671 9 Amount of underpayment a full 12 months) except where the short period is Address: allow annualizing taxable income to determine amount that would have been required to be paid and late payments of estimated tax The rate is and the last day of the tax year any previous underpayment only to the extent the as computed on Line 3 If you made more than one 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 Beginning / / by the installment date equals or exceeds the Calculate the exception using Lines 7 and 8 The Check below if the exception applies for each underpaid installment [Line 7 must equal or exceed Line 8(c)] City/State/ZIP: complete Lines 7 and 8 and Lines 9 through 14 to computation for each payment computation of interest on each underpayment A Computation of Penalty and Interest Computation of Penalty and Interest Follow the Computation of Underpayments Computation of Underpayments Make entries on contribution must be issued on or before installment due date Corporate Income/Franchise Tax determine if they paid the correct amount of each Due Dates of Installments due to a change in accounting period You may not each line item Enter on Line 4(c) the previous Effective 01/15 Ending / / Enter in Columns 1 through 4 the installment dates that correspond to Enter same installment dates used above Estimated Tax Every domestic or foreign corporation or exception does not apply compute the Exception that avoids penalty and interest Exception to Avoid Penalty and Interest You will not F 2220 Federal Employer Identification Number (FEIN): floating rate of interest applies to underpayments Florida Administrative Code Florida Statutes (F S ) For Tax Year: for the number of days shown on Line 11 Generally the declaration or the payment of estimated If Line 6 shows an underpayment and the If the minimum amount was not paid timely we may impose penalty and interest in the current year The certificate of contribution including computations installment installment (See Line 4c) installment of estimated tax by the proper due date installment s overpayment (Line 6) but only if the installments Instructions for Florida Form F 2220 instructions on the form to complete Lines 9 interest rates: interest will be the appropriate interest rate last day of the 6th month the last day of the 9th month less Line 3) An overpayment on Line 6 in excess of all prior Line 13 Interest on underpayments The interest Line 6 shows an underpayment of any installment Lines 1 through 6 following the instructions for Monday through Friday excluding holidays at must be issued on or before the installment due must report estimated tax for the taxable year if the amount Name: of income tax liability for the year is expected to be more of payment on Line 10 a payment of estimated tax on any installment date is considered a payment of on Line 6 if the total amount of all payments made on the amount of underpayment on Line 9 on the date of the payment and the interest rate or operation other entity subject to taxation under Chapter 220 F S overpayment exceeds all prior underpayments If owe penalty or interest for an underpaid installment Page 2 payment exceeds that amount of the installment payment for a given installment attach a separate penalty and interest should be entered on appropriate line of Florida Form F 1120 prior year exception calculation includes donations Purpose of Form This form will enable taxpayers to R 01/15 rate on each underpayment will vary depending rates in effect for the period It may be necessary Rule 12C 1 051 scholarship funding organizations (SFOs) from the beginning of the tax is due on or before the last day of the 4th month the tax year and fewer than four installment payments taxable year through the installment date indicated Certificate of than $2 500 the 4th month after the close of the taxable the amount of underpayment on Line 9 for the credit for contributions to SFOs per section (s ) 1002 395(5)(f) the declaration of estimated tax were met during the the extent applicable If the requirements for filing the formula established in s 220 807 F S To obtain the last day of the 4th 6th and 9th month and the last day of the tax the number of days shown on Line 11) the portion(s) of this schedule applicable to the the previous tax year was for a short tax year (not the requirement for making an individual the taxable year through the installment date indicated through 14 For purposes of determining the date to attach a separate schedule showing the to nonprofit scholarship funding organizations made to the dates shown on Line 10 Total Interest Total Penalty Underpayment of Estimated Tax on Florida underpayment penalty and interest by completing underpayments is to be applied as a credit against the next updated January 1 and July 1 of each year by using use the prior period exception in your first year of using the preceding year s tax (see s 220 34 F S ) were required attach an explanatory statement www myflorida com/dor or year whichever is earlier