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2220-K

Page 4

41A720-S6 (10-09)

INSTRUCTIONS FOR FORM 2220-K, continued

Commonwealth of Kentucky

DEPARTMENT OF REVENUE

Line 6—Enter the amount of the estimated tax due as

Line 10—Enter the total of Lines 12 and 13 of the preceding

follows: (i) if you entered three installment dates on Line

column. This line does not apply to the first installment.

5, enter 50% of the estimated tax due for the taxable

year (estimated tax due equals Line 3, Column (c)) under

Line 11—Enter the amount of Line 9 less Line 10, if zero or

Column (a), 25% under Column (b), and 25% under

less enter zero. For the first installment enter the amount

Column (c); (ii) if you entered two installment dates on

from Line 7.

Line 5, enter 75 % of the estimated tax due under Column

(a) and 25% under Column (b); or (iii) if you entered one

Line 12—If the amount on Line 11 is zero, enter the amount

installment date on Line 5, enter 100% of the estimated

of Line 10 less Line 9, otherwise enter zero. This line does

tax due under Column (a).

not apply to the first installment.

Line 7—Enter the estimated tax paid (including credit from

Line 13—If Line 11 is less than or equal to Line 6, enter the

prior year) for each installment period. Also, for the first

amount of Line 6 less Line 11.

installment enter this amount on Line 11.

Line 14—If Line 6 is less than Line 11, enter the amount

If you are required to make three installments—Enter

of Line 11 less Line 6.

estimated tax payments as follows: (i) if the payment was

made on or before June 15, enter the payment on Line 7,

Line 15—Enter the date the underpayment on Line 13 was

Column (a); (ii) if the payment was made after June 15 but

paid or the 15th day of the fourth month after the close of

by September 15, enter the payment on Line 7, Column

the tax year, whichever is earlier. A payment of estimated

(b); (iii) if the payment was made after September 15 but

tax is applied against unpaid required installments in

by December 15, enter the payment on Line 7, Column

the order in which the installments are required to be

(c); or (iv) if the payment was made after December 15,

paid, regardless of the installment to which the payment

do not enter the payment on Line 7.

pertains.

If you are required to make two installments—Enter

estimated tax payments as follows: (i) if the payment

Line 16—Enter the interest due on the tax underpayment

was made on or before September 15, enter the payment

on Line 13. If the corporation or limited liability pass-

on Line 7, Column (a); (ii) if the payment was made after

through entity has more than one payment for the

September 15 but by December 15, enter the payment on

underpayment, attach a separate computation for each

Line 7, Column (b); or (iii) if the payment was made after

payment. The interest rate is 7 percent for calendar year

December 15, do not enter the payment on Line 7.

2009. The tax interest rate for 2010 is available online at

, or you may contact the Department

If you are required to make one installment—Enter

of Revenue at (502) 564-8139.

estimated tax payments as follows: (i) if the payment was

made on or before December 15, enter the payment on

PART IV—TOTAL INTEREST

Line 7, Column (a); or (ii) if the payment was made after

December 15, do not enter the payment on Line 7.

Line 1—Add the amounts in Part III, Line 16 (all columns)

and multiply the total by the percentages on Part III, Line

Line 8—Enter the amount from Line 14 of the preceding

4, and enter the respective amounts on Line 1, Columns

column. This line does not apply to the first installment.

(a), (b) and (c). Also, enter the interest amounts in Columns

(a) and (b) on the Tax Payment Summary under the LLET

Line 9—Enter the total of Lines 7 and 8. This line does not

summary and Income summary, respectively.

apply to the first installment.

Form 2220-K Draft - Underpayment And Late Payment Of Estimated Income Tax And Llet - 2009 Page 4

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