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Missouri Corporation Underpayment of Estimated Tax Schedule
Extracted from PDF file 2023-missouri-form-mo-2220.pdf, last modified November 2022Corporation Underpayment of Estimated Tax Schedule
Reset Form Form MO-2220 Department Use Only (MM/DD/YY) 2023 Corporation Underpayment of Estimated Tax Schedule Taxable Year Print Form Beginning Ending (MM/DD/YY) (MM/DD/YY) Missouri Tax I.D. Federal Employer Number I.D. Number Charter Part 2 - Exceptions to the Addition to Tax Part 1 - How to Figure the Underpayment Number 1. Enter 90% of amount of 2023 tax (Form MO‑1120, Lines 14 and 15 less approved credits for corporation income tax or 100% of 2022 tax, whichever is smaller. (If this amount is $250 or less, do not complete this form.)............................... 00 (a) (b) (c) (d) 2. Enter in Columns (a) through (d) the installment due dates (that correspond to the 15th day of the 4th, 6th, 9th, and 12th months of the tax year) ............................................................... 3. Enter 25% of Line 1 in Columns (a) through (d).................... 00 00 00 00 4. Amount paid or credited by installment due date................... 00 00 00 00 5. Overpayment of previous installment (see instructions)........ 00 00 00 00 6. Total of Lines 4 and 5............................................................ 00 00 00 00 7. Underpayment (Line 3 minus Line 6)..................................... 00 00 00 00 8. Overpayment (Line 6 minus Line 3)....................................... 00 00 00 00 Read instructions for Lines 9 through 14 before entering an amount. If claiming Exception 2, 3, or 5, provide the Missouri taxable income for the months needed to make the calculations by completing Part 4 of this form. 9. Total amount paid or credited from the beginning of the tax year through the installment dates that correspond to the 00 00 00 00 15th day of the 4th, 6th, 9th, and 12th months of the tax year. 25% of Tax 50% of Tax 75% of Tax 100% of Tax 10. Exception 1, prior year’s tax (see instructions).................... 00 00 00 00 22.5% of Tax 45% of Tax 67.5% of Tax 90% of Tax 11. Exception 2, tax on annualized income (see instructions)..... 00 00 00 00 90% of Tax 90% of Tax 90% of Tax 90% of Tax 12. Exception 3, tax on income over 3, 5, 8, and 11 month periods (see instructions)..................................................... 00 00 00 00 25% of Tax 50% of Tax 75% of Tax 100% of Tax 3. Exception 4, tax on prior year’s income using current 1 year’s rates (see instructions).............................................. 00 00 00 00 22.5% of Tax 45% of Tax 67.5% of Tax 90% of Tax 14. Exception 5, tax on annualized income (see instructions)..... 00 00 00 00 Part 3 - How to Figure the Addition to Tax 15. Enter the same installment dates from Line 2...................... 16. Amount of underpayment from Line 7.................................. 17. Enter the payment date or the 15th day of the 4th month after the close of the tax year, whichever is earlier.............. 18. Number of days from due date of installment to the date shown on Line 17......................................................... 19. Number of days on Line 18 after 4/15/2023 and before 1/1/2024.................................................................... 20. Number of days on Line 18 after 12/31/2023 and before 1/1/2025.................................................................... 21. Number of days on Line 18 after 12/31/2024 and before 3/15/2025.................................................................. 22. Number of days on Line 19 365 X 6% X amount on Line 16.......... 00 00 00 00 00 00 00 00 3. Number of days on Line 20 2 366 X 9% X amount on Line 16......... 00 00 00 00 24. Number of days on Line 21 365 X *% X amount on Line 16.......... 00 00 00 00 00 00 00 00 25. Addition to tax (total of Lines 22 through 24)....................... 26. Add Columns (a) through (d), Line 25, enter here and on Form MO‑1120, Line 29............................................................... 00 * For corporations with a tax year that ends after August 31, 2024, see the instructions for Line 24. *23114010001* 23114010001 Part 4 - Monthly Missouri Taxable Income If claiming Exception 2, 3, or 5 on the Schedule MO-2220, provide the Missouri taxable income for the appropriate months used to make the calculations. Month of Taxable Year Missouri Taxable Income Month of Taxable Year Missouri Taxable Income Missouri Taxable Income 1 First 00 5 Fifth 00 9 Ninth 00 2 Second 00 6 Sixth 00 10 Tenth 00 3 Third 00 7 Seventh 00 11 Eleventh 00 4 Fourth 00 8 Eighth 00 12 Twelfth 00 Purpose of Schedule Form MO‑2220 is used by a corporation to determine whether it is subject to addition to tax for underpayment of estimated tax, and if so, the amount of addition to tax. Estimated tax is a corporation’s expected income tax liability. For further information regarding underpayment of estimated tax, see 12 CSR 10‑2.067. Estimated tax payments are required if Missouri estimated tax can reasonably be expected to be $250 or more. Line 11 — Exception 2, tax on annualized income — This exception applies if the estimated tax payment(s) equals or exceeds 90 percent of the tax on the annualized Missouri taxable income for periods from the first of the year to the end of the month preceding that in which an installment is due (Section 143.761.4(2), RSMo). A corporation may annualize its income as follows: Large Corporation A corporation, or any predecessor corporation, that in any of the three preceding taxable years had a federal taxable income of at least one million dollars and had a Missouri taxable income of at least one hundred thousand dollars is a large corporation. Large corpora‑ tions use Exception 2, 3, or 5. All other corporations use Exception 1, 2, 3, or 4 (Section 143.761.4 and 6, RSMo). (2) Multiply the result of step (1) by 12. How to Use This Schedule Complete Part 1 of Form MO‑2220 to find out if there is an underpay‑ ment for any of the four payment periods. If there is an underpayment on Line 7 (Column a, b, c, or d) go to Part 2 — Exceptions to the Addition to Tax. If no exceptions apply for a payment period, go to Part 3 — How to Figure the Addition to Tax. If using Form MO‑2220 to show Exception 2, 3, or 5, complete Part 4. Instructions Month of Taxable Year Part 1 — How to Figure the Underpayment Complete Part 1, Lines 1 through 8. The instructions for most of these lines are on the form itself. Follow the instructions below for Lines 1, 4, 5, and 7. Line 1 — Approved corporation tax credits cannot exceed Form MO‑1120, Line 13. Line 4 — A prior year’s overpayment will be applied against the earliest installment unless the corporation has requested otherwise. Line 5 — Apply as a credit against the next installment any overpay‑ ment shown on Line 8 that is greater than all prior underpayments. Line 7 — If Line 7 shows an underpayment, complete Part 2 to see if any of the exceptions apply. Part 2 — Exceptions to the Addition to Tax The corporation will not be liable for addition to tax if the tax payments (amounts shown on Line 9) equal or exceed any amount determined for the same period under the following exception provisions. However, filing an estimated tax payment, amended estimated tax payment, or payment on the last installment date of the taxable year will not relieve the corporation of addition to tax for failure to pay by the designated due dates. A different exception may be applied for each underpay‑ ment, but a separate computation page must be attached. If none of the exceptions apply, complete Lines 15 through 26. Line 10 — Exception 1, prior year’s tax — This exception applies if the current year estimated tax payment(s) equals or exceeds the tax shown on the prior year return. The prior year tax return must cover a period of 12 months and show a tax liability (Section 143.761.4(1), RSMo). If there was no tax liability see Exception 4. Exception 1 does not apply to large corporations. (1) Compute the Missouri taxable income from the first of the tax year up to and including the month prior to that in which an installment is due. (3) Divide the result of step (2) by the number of months in the computation period. Computations must be attached. Line 12 — Exception 3, tax on income over periods of 3, 5, 8, and 11 months — This exception applies if the estimated tax payment(s) equals or exceeds 90 percent of the tax computed, at the rate appli‑ cable to the current taxable year, on the basis of the actual Missouri taxable income for the calendar months in the taxable year preced‑ ing the date prescribed for payment (Section 143.761.4(3), RSMo). Computations must be attached. Line 13 — Exception 4, tax on prior year’s income using current year’s rates — This exception applies if the estimated tax payment(s) equals or exceeds the tax computed by using the current year’s rates, but based on the facts shown on the prior year’s return and the law that applies to the prior year (Section 143.761.4(4), RSMo). Exception 4 does not apply to large corporations. Line 14 — Exception 5, tax on annualized income — This exception applies if the estimated tax payment(s) equals or exceeds 90 percent of the amount the corporation would owe if its estimated tax was a tax figured on annualized Missouri taxable income for the months preceding an installment date (Section 143.761.4(5), RSMo). A cor‑ poration may annualize its income as follows: (1) For the first three months if the installment was required to be paid in the fourth month. (2) For the first three months or the first five months if the installment was required to be paid in the sixth month. (3) For the first six months or for the first eight months if the installment was required to be paid in the ninth month. (4) For the first nine months or for the first 11 months if the installment was required to be paid in the 12th month. To annualize, multiply Missouri taxable income for the period by 12 and divide the result by the number of months in the period (3, 5, 6, 8, 9, or 11 as the case may be). Only a large corporation may use this exception. Computations must be attached. Part 3 — How to Figure the Addition to Tax If no exception applies, complete Lines 15 through 26 to determine the amount of addition to tax. Line 24 — For underpayments after January 1, 2024, a corporation must use an interest rate that the Department of Revenue will announce by November 1, 2024. Attach to Form MO-1120 and mail to the Missouri Department of Revenue. Balance Due: Refund or No Amount Due: P.O. Box 3365 P.O. Box 700 Jefferson City, MO 65105-3365 Jefferson City, MO 65105-0700 *23114020001* 23114020001 Form MO-2220 (Revised 12-2023)
MO-2220 Corporation Underpayment of Estimated Tax Schedule
More about the Missouri Form MO-2220 Corporate Income Tax Estimated TY 2023
We last updated the Corporation Underpayment of Estimated Tax Schedule in February 2024, so this is the latest version of Form MO-2220, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form MO-2220 directly from TaxFormFinder. You can print other Missouri tax forms here.
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TaxFormFinder has an additional 61 Missouri income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form MO-1120S | S Corporation Income Tax Return |
| Form INT-2-1 | Bank Franchise Tax Schedule BF |
| Form MO-C | Missouri Dividends Deduction Schedule |
| Form MO-FT | Corporation Franchise Tax Schedule (must be filed with the 2013 MO-1120 or MO-1120S) |
| Form MO-NFT | No Franchise Tax Due |
View all 62 Missouri Income Tax Forms
Form Sources:
Missouri usually releases forms for the current tax year between January and April. We last updated Missouri Form MO-2220 from the Department of Revenue in February 2024.
Form MO-2220 is a Missouri Corporate Income Tax form. While most taxpayers have income taxes automatically withheld every pay period by their employer, taxpayers who earn money that is not subject to withholding (such as self employed income, investment returns, etc) are often required to make estimated tax payments on a quarterly basis. Failure to make correct estimated payments can result in interest or penalties.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Missouri Form MO-2220
We have a total of thirteen past-year versions of Form MO-2220 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form MO-2220
MO-2220 Corporation Underpayment of Estimated Tax Schedule
2022 Form MO-2220
MO-2220 Corporation Underpayment of Estimated Tax Schedule
2021 Form MO-2220
MO-2220 2021 Corporation Underpayment of Estimated Tax Schedule
2020 Form MO-2220
Form MO-2220 - 2020 Corporate Underpayment of Estimated Tax Schedule
2019 Form MO-2220
Form MO-2220 - 2018 Corporation Underpayment of Estimated Tax Schedule
2018 Form MO-2220
Form MO-2220 - 2018 Corporation Underpayment of Estimated Tax Schedule
2017 Form MO-2220
Form MO-2220 - 2016 Corporation Underpayment of Estimated Tax Schedule
2016 Form MO-2220
Form MO-2220 - 2016 Corporation Underpayment of Estimated Tax Schedule
2015 Form MO-2220
MO-2210 Corporation Underpayment of Estimated Tax Schedule
2014 Form MO-2220
MO-2210 Corporation Underpayment of Estimated Tax Schedule
2013 Form MO-2220
MO-2220
2012 Form MO-2220
MO-2220 Corporation Underpayment of Estimated Tax Schedule
2011 Form MO-2220
MO-2220 Corporation Underpayment of Estimated Tax Schedule
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