Arkansas Underpayment of Estimated Tax

Underpayment of Estimated Tax
2021_AR2220_BC.pdf
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AR2220

CLEAR FORM
CTUE211

State of Arkansas
UNDERPAYMENT OF ESTIMATED TAX BY CORPORATIONS
Corporation

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3$57'(7(50,1,1*7$;$028175(48,5('72%((67,0$7(' (Round all entries to whole dollars)


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1. Tax Liability for Year Ending ___ / _____ / _____ : (Enter amount from appropriate line
on Arkansas return, AR1100CT) ......
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(If Line 1 is $1,000 or less, you are not subject to an underestimate penalty)






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(b) Prior Year Tax Liability: (Enter amount from appropriate line on prior year Arkansas return) ............................................
3. Enter Lesser of 2(a) or 2(b): (Divide entry by 4 for Part 2 Lines 2, 5, 8, and 11) ....................................................................
4. Total Estimated Tax Paid: (Including estimate carryforward from prior year) ........................................................................
(If Line 4 is equal to or greater than Line 3 you are not subject to an underestimate penalty, provided the correct amount of
 

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PART 2 COMPUTATION OF UNDERESTIMATED PENALTY (Round all entries to whole dollars)
NOTE:&RPSOHWH&ROXPQV$DQG%¿UVW&ROXPQ&
second, Column D third, and Column E fourth.

A
Date

1. Estimated Credit Carryforwards and Payments made
on or before the 1st Quarter Due Date:
2. 5HTXLUHGst4XDUWHU(VWLPDWHG3D\PHQW
3. Est. Pmt. made after Col. A, Ln.2 and on or before
Col. A, Ln. 5. ,IEODQN, enter Col. A, Ln. 5 date in Col. A:
4. Est. Pmt. made after Col. A, Ln. 3 and on or before
Col. A, Ln. 5. ,IEODQN, enter Col. A, Ln. 5 date in Col. A:
5. 5HTXLUHGQG4XDUWHU(VWLPDWHG3D\PHQW
6. Est. Pmt. made after Col. A, Ln. 5 and on or before
Col. A, Ln. 8. ,IEODQNHQWHU&RO$/QGDWHLQ&RO$
  (VW3PWPDGHDIWHU&RO$/QDQGRQRUEHIRUH
Col. A, Ln. 8. ,IEODQNHQWHU&RO$/QGDWHLQ&RO$
8. 5HTXLUHGUG4XDUWHU(VWLPDWHG3D\PHQW
9. Est. Pmt. made after Col. A, Ln. 8 and on or before
Col. A, Ln. 11. ,IEODQNHQWHU&RO$/QGDWHLQ&RO$
 (VW3PWPDGHDIWHU&RO$/QDQGRQRUEHIRUH
Col. A, Ln. 11. ,IEODQN, HQWHU&RO$/QGDWHLQ&RO$
11. 5HTXLUHGth4XDUWHU(VWLPDWHG3D\PHQW
12. Est. Pmt. made after Col. A, Ln. 11 and on or before
Col. A, Ln. 14. ,IEODQN, enter Col. A, Ln. 14 date in Col. A:
13. Est. Pmt. made after Col. A, Ln. 12 and on or before
Col. A, Ln. 14. ,IEODQN, enter Col. A, Ln. 14 date in Col. A:
14. (DUOLHU RIWKH,QFRPH7D[5HWXUQDue Date RUWKH,QFRPH
Tax Return )LOHG'DWH with complete Tax Payment:

3$57

B
Amounts
Enter pmts.
as (-)
<

C
Cumulative

D
Days
Col.
C (+)
Amts.
Only

Underpay (+)
Overpay (-)

>
B1+B2=

A3-A2=

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>

C2+B3=

A4-A3=

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>

C3+B4=
C4+B5=

A5-A4=
A6-A5=



! &% 

$$



! &% 
 &% 

$$
$$



! &% 

$$



! &% 
&%

$$
A12-A11=

<

> C11+B12=

A13-A12=

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> C12+B13=

A14-A13=

E
Penalty
Col. C X
Col. D X


Total Penalty (Total Col. E):

,)<28$5(&/$,0,1*21(2)7+((;&(37,216/,67('%(/2:&+(&.7+(&255(6321',1*180%(5%2;$1'(17(5
7+$7180%(5,17+(%2;3529,'('21/,1(2))250$5&7

Exceptions:

(1) Taxpayers whose income from farming for the tax year can reasonably be
expected to amount to at least two thirds (2/3) of the total gross income from
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tax on or before the 15th day of the 2nd month after the close of the tax year, or
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on or before the 15th day of the 4th month after the close of the tax year.


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return and pay the tax on or before January 31stRURQWKHODVWGD\RIWKH¿UVW
month after the close of the tax year.
(3) No penalty shall be imposed for a tax year if:
(1) the preceding tax year was a tax year of 12 months, and
(2) the taxpayer did not have a tax liability for the preceding tax year, and
(3) the taxpayer was a resident of Arkansas throughout the preceding tax year.

(4) No penalty shall be imposed with respect to any underpayment to the extent
that the Commissioner of Revenue determines that by reasons of casualty,
disaster, or other unusual circumstances the imposition of such penalty would
be against equity and good conscience.
(5) No penalty shall be imposed with respect to any underestimate or underpayment
if the Commissioner determines that:
(1) the taxpayer
(i) retired after having attained age 62, or
(ii) became disabled, in the tax year for which such estimated payments were
required to be made or in the tax year preceding such tax year and,
(2)such underpayment was due to reasonable cause and not to willful neglect.
(6)




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