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

2220-K

Page 4

41A720-S6 (10-12)

INSTRUCTIONS FOR FORM 2220-K, continued

Commonwealth of Kentucky

DEPARTMENT OF REVENUE

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

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

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

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

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

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

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

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

Line 11—Enter the amount of Line 9 less Line 10. If zero

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

or less, enter zero (-0-). For the first installment, enter

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

the amount from Line 7.

tax due under Column (a).

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

Line 7—Enter the estimated tax paid for each installment

of Line 10 less Line 9; otherwise, enter zero (-0-). This

period. Also, for the first installment, enter this amount

line does not apply to the first installment.

on Line 11. Estimated tax includes the credit from the prior

year, withholding tax, certified rehabilitation tax credit

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

and film industry tax credit. The withholding tax, certified

amount of Line 6 less Line 11.

rehabilitation tax credit and film industry tax credit are

considered to have been paid based on the percentages

due on the estimated tax due dates as provided by the

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

instructions on Line 6, unless you can show otherwise.

of Line 11 less Line 6.

If you are required to make three installments—Enter

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

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

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

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

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

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

tax is applied against unpaid required installments in

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

the order in which the installments are required to be

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

paid, regardless of the installment to which the payment

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

pertains.

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

do not enter the payment on Line 7.

Line 16—Enter the interest due on the tax underpayment

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

If you are required to make two installments—Enter

through entity has more than one payment for the

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

underpayment, attach a separate computation for each

was made on or before September 15, enter the payment

payment. The interest rate is 6 percent for calendar year

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

2012. The tax interest rate for 2013 is available online at

September 15 but by December 15, enter the payment on

, or you may contact the Department

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

of Revenue at (502) 564-8139.

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

PART IV—TOTAL INTEREST

If you are required to make one installment—Enter

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

made on or before December 15, enter the payment on

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

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

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

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

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

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

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

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

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

summary and Income summary, respectively.

Form 2220-K - Underpayment And Late Payment Of Estimated Income Tax And Llet - 2012 Page 4

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