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2009

2220-K

*0900020209*

41A720-S6 (10-09)

Commonwealth of Kentucky

DEPARTMENT OF REVENUE

UNDERPAYMENT AND LATE PAYMENT

OF ESTIMATED INCOME TAX AND LLET

➤ Attach to Form 720, 720S, 725 or 765

Enter Name(s)

Kentucky Corporation/LLET Account Number

__ __ __ __ __ __

PART I—EXCEPTION

The exception shall apply if the entity’s prior year income tax liability was equal to or less than $25,000 and esti-

mated tax equals or exceeds the prior year income tax as provided by KRS 141.990. If the exception does not apply,

go to Part II.

The estimated tax equals or exceeds the prior year income tax liability and the prior year income tax liability is

equal to or less than $25,000. Check this box and complete lines 1 through 2 of this part.

Enter the income tax liability from the 2008 return, Form 720, Part III, line 8; or

Form 720S, Part III, line 4 ........................................................................................................

Enter the total tax payments from the 2009 return: Form 720, the total of Part I,

lines 7, 8, and 10 and Part III, lines 9 and 11; or Form 720S, the total of

Part II, lines 7 and 9 and Part III, lines 5 and 7 ......................................................................

PART II—FIGURING THE UNDERPAYMENT AND PENALTY

1. Enter the income tax liability from the 2009 return, Form 720, Part III, line 8; or

Form 720S, Part III, line 4 ........................................................................................................

2. Enter 70% (0.70) of line 1 ........................................................................................................

$5,000

3. Statutory exemption ...............................................................................................................

4. Enter the total tax payments from the 2009 return: Form 720, the total of Part I,

lines 7, 8, and 10 and Part III, lines 9 and 11; or Form 720S, the total of Part II,

lines 7 and 9 and Part III, lines 5 and 7 ...................................................................................

5. Line 2 less lines 3 and 4 ..........................................................................................................

6. Penalty percentage is 10% ......................................................................................................

7. Multiply line 5 by line 6. This is the amount of the penalty for underpayment

of estimated income tax (minimum penalty $25). Enter on this line and on the

Tax Payment Summary of the applicable form.....................................................................

Form 2220-K Draft - Underpayment And Late Payment Of Estimated Income Tax And Llet - 2009