C-8020, Page 2
PART 3: FIGURING THE PENALTY
Federal Employer Identification Number
Compute penalty only if paid quarterly return(s) were not filed. Do not compute penalty for any quarter in which a timely paid
estimated return was filed or there is a credit available from prior quarterly returns. Treasury will review the estimates filed
and, if necessary, bill for the appropriate penalty.
A.
B.
C.
D.
29.
Enter the amount from line 14
29.
30.
Enter the payment due dates from line 5
30.
31.
Enter the annual return due date or the date payment was
31.
made, whichever is earlier
32.
Enter number of days from date on line 30 to date on line 31
32.
33.
If line 32 is greater than 0 but less than 61, multiply line 29
by 5% (.05)
33.
34.
If line 32 is greater than 60, but less than 91, multiply line 29
by 10% (.10)
34.
35.
If line 32 is greater than 90, but less than 121, multiply line 29
by 15% (.15)
35.
36.
If line 32 is greater than 120, but less than 151, multiply line 29
by 20% (.2)
36.
37.
If line 32 is greater than 150, multiply line 29 by 25% (.25)
37.
38.
Add lines 33 through 37
38.
Total Penalty. Add line 38 columns A through D
39.
39.
40.
Total Penalty and Interest. Add lines 28 and 39. Enter here and on C-8000, line 56 or C-8044, line 22
40.
Annualization Worksheet
A.
B.
C.
D.
First 3
First 6
First 9
Full 12
Complete this worksheet if liability is not evenly distributed
Months
Months
Months
Months
throughout the year.
1.
Gross receipts
1.
Business income
2.
2.
3.
Compensation
3.
4.
Additions
4.
5.
Add lines 2 through 4
5.
6.
Subtractions
6.
7.
Tax base. Subtract line 6 from line 5
7.
8.
Apportionment percentage from C-8000H
8.
9.
Apportioned tax base. Multiply line 7 by line 8
9.
10.
Recapture of capital acquisition deduction from C-8000D
10.
11.
Business loss deduction
11.
12.
Statutory deduction, if available
12.
13.
Adjusted tax base. Add line 10 and subtract lines 11 and 12
from line 7 or 9, whichever applies
13.
14.
Reductions to tax base from C-8000S
14.
15.
Taxable amount. Subtract line 14 from line 13
15.
1.9%
1.9%
1.9%
1.9%
16.
Tax rate
16.
17.
Tax before credits. Multiply line 15 by line 16
17.
18.
Tax after Investment Tax Credit
18.
19.
Standard small business credit from C-8000C or C-8009
19.
20.
Subtract line 19 from line 18
20.
21.
Alternate tax from C-8000C, C-8044 or C-8009
21.
22.
Unincorporated/S Corporation credit
22.
23.
Other credits from C-8000C or C-8000MC
23.
24.
Net tax liability. Subtract lines 22 and 23
from line 20 or 21, whichever applies
24.
25.
Annualization ratios
4
2
1.3333
1
25.
26.
Annualized tax. Multiply line 24 by line 25
26.
27.
Applicable percentage
21.25%
42.5%
63.75%
85%
27.
28.
Multiply line 26 by line 27
28.
29.
Enter the combined amounts of line 30
from all preceding columns
29.
30.
ESTIMATE REQUIREMENTS BY QUARTER
Subtract line 29 from line 28. If less than zero, enter -0-.
Enter here and on C-8020, line 6
30.
NOTE: Totals on line 30 must equal 85% of the current year tax liability on page 1, line 3.