Indiana Underpayment of Estimated Utility Receipts Tax

Underpayment of Estimated Utility Receipts Tax
Schedule URT-2220
Schedule

Indiana Department of Revenue

URT-2220

Underpayment of
Estimated Utility Receipts Tax

State Form 51252
(R18 / 8-22)

	

Beginning	2022	

and Ending

□ Check box if using the exact quarterly payment method.

The purpose of this schedule is to calculate the penalty for underpayment of utility receipts tax on a quarterly basis. The penalty is
10 percent of the total quarterly underpayments unless an exception to the penalty is met for a quarter in Part II.
Name of Corporation or Organization

Federal Employer Identification Number

Part I - Calculation of Minimum Quarterly Payment (use a minus sign to denote a negative amount)
1.	 Enter utility receipts tax due (line 16 of Form URT-1); if less than $2,500, enter -0-....................	1	
2.	 Multiply line 1 by 80% and enter result on line 3..........................................................................	2	
3.	 Minimum required payment of utility receipts tax liability for the taxable year.............................	3	
4.	 Enter prior year’s utility receipts tax liability (do not reduce by estimated taxes paid) that is
relative to the number of months in the current taxable year.......................................................	4	

Part II - Calculation of Quarterly Underpayment Penalty or Exception
5.	 Enter line 3 or line 4, whichever amount is less...........................................................................	5	

6.	 Enter in columns (a) through (d) the quarterly installment
due dates corresponding to the 20th day of the 4th, 6th,
9th and 12th months of the tax year.......................................	6

(a)
1st quarter

(b)
2nd quarter

(c)
3rd quarter

00
X.80
00
00
00
(d)
4th quarter

7.	 Enter the amount of utility receipts tax paid or credited on
or before the due date of the quarterly installment.................	7
8.	 Enter the overpayment, if any, from the preceding column
in excess of any prior underpayments shown on line 11........	8
9.	 Add lines 7 and 8 for each column.........................................	9
10.	 Divide line 5 by 4 or by the number of quarters in the
taxable year; enter result in columns (a) through (d).............	10
11.	 Subtract line 10 from line 9 for each quarter
(If the result is a negative figure, you have not met an
exception to the penalty for the quarter.)................................	11
12.	 If line 11 shows zero or more for a quarter, the overpayment
exception is met. Enter zero on line 12. Otherwise,
compute 10% penalty on the underpayment shown
on line 11 for each column. Enter the penalty, if any, for
the quarter as a positive figure...............................................	12
13.	 Add line 12, columns (a) through (d). This is the total underpayment penalty. Enter it here and
carry the amount to Form URT-1, line 23...........................................................................................	13	

*20422111694*
20422111694

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