Rhode Island 2210 for composite return

2210 for composite return
Microsoft Word - Incentive and Credit Overview for DLT
State of Rhode Island Division of Taxation

2024 Form RI-2210C
24102599990101

Underpayment of Estimated Tax by Composite Filers

Federal employer identification number

Name shown on Form RI-1040C

CHECK THE BOX IF THE BELOW APPLIES:
TAXPAYER IS USING THE ANNUALIZATION OF INCOME METHOD

PART 1 - REQUIRED ANNUAL PAYMENT
1 Enter your 2024 RI income tax from RI-1040C, line 11...............................................................................................................................
2 Enter 80% of the amount shown on line 1................................................................................. 2

1

3 RI withheld taxes paid for 2024 from RI-1040C, lines 13 and 14..........................................................................................................
4 Subtract line 3 from line 1. If the result is $250.00 or less, do not complete the rest of this form........................................................
5 Enter your 2023 RI income tax from RI-1040C, line 11...............................................................................................................................

3
5

6 Enter the SMALLER of line 2 or line 5..................................................................................................................................................

6

4

PART 2 - SHORTCUT METHOD
You can use this method if you meet the following conditions (Otherwise, you must complete parts 3 and 4 to figure your underestimating interest):

1
2

You made no estimated payments OR all 4 estimated payments were equal and paid by the appropriate due dates;

AND you did not complete RI-2210C, part 5 (Annualized Income Installment Worksheet).
7 Enter the amount from Part 1, line 6 above.................................................................................................................
8
9
10
11

Total withholding and estimated tax you paid from RI-1040C, lines 12, 13 and 14...............................................................................

7
8

Underpayment. Subtract line 8 from line 7. If zero or less, enter $0.......................................................................... 9
Multiply line 9 by 6.9762% (0.069762)........................................................................................................................ 10
If the amount on line 9 was paid on or after 4/15/2025, enter $0
If the amount on line 9 was paid before 4/15/2025, make the following calculation:
The amount on line 9 (times) the number of days paid before 4/15/2025 (times) 0.000191 and enter the result here. 11

12 UNDERESTIMATING INTEREST. Subtract line 11 from line 10. Enter here and on RI-1040C, line 18
Attach this form to your Rhode Island return......................................................................................................... 12
PAYMENT DUE DATES

PART 3 - FIGURE YOUR UNDERPAYMENT

Column A
04/15/2024

13 Divide the amount on line 6 by four (4) and enter the result in each column.....

13

14 Annualized income installments from Part 5, line 33. NOTE: Complete lines
15 through 17 in one column before completing the next column.................. 14
15 Enter the amount from line 13 or line 14 if applicable .................................... 15
16 Rhode Island tax withheld and estimated tax paid. If line 16 is equal to or
more than line 15 for all installment periods, do not complete or file this
16
form unless you report annualized income installments on line 14 ................
17 UNDERPAYMENT. Subtract line 16 from line 15 OR
OVERPAYMENT. Subtract line 15 from line 16.................................................. 17

Page 1

Column B
06/15/2024

Column C
09/15/2024

Column D
01/15/2025

State of Rhode Island Division of Taxation

2024 Form RI-2210C
IMAGEONLY

Underpayment of Estimated Tax by Composite Filers

Federal employer identification number

Name shown on Form RI-1040C

PART 4 - HOW TO FIGURE THE CHARGES

PAYMENT DUE DATES
Column A
04/15/2024

18 Payment date or date listed in instructions for line 18, whichever is earlier... 18
19 a Number of days from the installment date to the date of payment or the due
date of the next installment, whichever is earlier (see instructions) ............... 19a
b Number of days on line 19a X 12% X underpayment on line 17....................

MMDDYY

Column B
06/15/2024

MMDDYY

days

Column C
09/15/2024

MMDDYY

days

days

19b
366
20 a Number of days from January 1, 2025 to the date of payment or January 15, 2025, whichever is earlier ........ 20a
b Number of days on line 20a X 12% X underpayment on line 17 .......................................................................

days

Column D
01/15/2025

MMDDYY

20b
365
21 a Number of days from January 15, 2025 to the date of payment or April 15, 2025, whichever is earlier...................................... 21a
b Number of days on line 21a X 12% X underpayment on line 17 .................................................................................................
21b
365
22 UNDERESTIMATING INTEREST. Total amount from all columns on lines 19b, 20b and 21b. Enter here and on RI-1040C,
line 18. Attach this form to your Rhode Island return................................................................................................................. 22

days

Part 5 Annualized Income Installment Worksheet
IMPORTANT: Complete one column lines 23 - 33 before completing the next column.

23

Figure your actual taxable income ...........................................................................

24

Annualization amount...................... ........................................................................

25

Multiply the amount on line 23 by the indicator on line 24 .......................................

26

Figure your Rhode Island tax on the amount on line 25 ..........................................

27

Applicable percentage.............................................................................................

28

Multiply the amount on line 26 by the applicable percentages on line 27.....................

29

Enter the combined amount from line 33 for all preceding periods...............................

30

Subtract line 29 from line 28 (not less than zero) ....................................................

31

Enter the amount from RI-2210C, page 1, line 13 for the period plus the amount
from line 32 of this worksheet for the preceding period ...........................................

32

If line 31 is more than line 30, SUBTRACT line 30 from line 31, OTHERWISE enter $0

33

Enter the smaller of line 30 or line 31 here and on page 1, line 14..........................

Page 2

01/01/2024
03/31/2024

01/01/2024
05/31/2024

01/01/2024
08/31/2024

01/01/2024
12/31/2024

4

2.4

1.5

1

20%

40%

60%

80%

State of Rhode Island Division of Taxation

2024 Form RI-2210C
Underpayment of Estimated Tax by Composite Filers
PURPOSE OF THIS FORM

PART 3 - FIGURE YOUR UNDERPAYMENT

Entities should use this form to determine if their income tax was sufficiently prepaid throughout the year by having Rhode Island tax withheld or
by paying Rhode Island estimated tax. If not, a charge may be imposed
on the underpayment of the taxes. Complete Part 1 of this form to determine if the payment of the charge may be avoided.

Payment Due Dates:
Column A:
▪ Calendar year-end taxpayers: For tax year 2024, leave this blank.
▪ Taxpayers with a fiscal-year end other than 12/31/2024 should enter the
15th day of the fourth month of the taxable year.

For tax year 2024 ONLY, if any of your due dates fell between April
15, 2024 and June 15, 2024, you should account for the extended due
dates allowed by the RI Division of Taxation and intended to provide
relief to taxpayers amidst the Coronavirus pandemic. The due dates
for payments to be paid from April 15, 2024 to June 15, 2024 were extended to July 15, 2024.

However, if your payment due date fell between April 15, 2024 and
June 15, 2024, enter 7/15/2024.
Column B:
▪ Calendar year-end taxpayers: For tax year 2024, enter 7/15/2024.
▪ Taxpayers with a fiscal-year end other than 12/31/2024 should enter the
15th day of the sixth month of the taxable year.
However, if your payment due date fell between April 15, 2024 and
June 15, 2024, enter 7/15/2024.

PART 1 - REQUIRED ANNUAL PAYMENT
Line 1 - Enter your 2024 Rhode Island income tax from RI-1040C, line 11.
Line 2 - Enter 80% of the amount shown on line 1.

Column C:
▪ Calendar year-end taxpayers: For tax year 2024, enter 9/15/2024.
▪ Taxpayers with a fiscal-year end other than 12/31/2024 should enter the
15th day of the ninth month of the taxable year.

Line 3 - Enter the amount of Nonresident real estate withholding and Nonresident withholding received from pass-through entities for 2024 from RI1040C, lines 13 and 14.
Line 4 - Subtract line 3 from line 1. If the result is $250.00 or less you do
not owe any amount and need not complete the rest of this form.
Line 5 - Enter your 2023 RI tax - RI-1040C, line 11. If you had no federal
tax liability for 2023, then enter zero (0).
Line 6 - Enter the smaller of line 2 or line 5 (including zero). If line 6 is
zero, you do not owe any amount and need not complete the rest of this
form. However, you must attach this form to your Rhode Island
return.

Column D:
▪ Calendar year-end taxpayers: For tax year 2024, enter 01/15/2025.
▪ Taxpayers with a fiscal-year end other than 12/31/2024 should enter the
15th day of the month following the end of the taxable year.
However, if your payment due date fell between April 15, 2024 and
June 15, 2024, enter 7/15/2024.
Line 13 - Divide the amount shown on line 6 by four (4) and enter the result in each column.
For tax year 2024, calendar year end taxpayers ONLY leave Column A
blank, enter 50% of line 6 in Column B, 25% of line 6 in Column C and the
remaining 25% of line 6 in Column D.

PART 2 - SHORTCUT METHOD
Line 7 - Enter the amount from line 6.
Line 8 - Enter the amount of estimated tax paid, Nonresident real estate
withholding and Nonresident withholding received from pass-through entities for 2024 from RI-1040C, lines 12, 13 and 14.
Line 9 - Subtract line 8 from line 7.

Line 14 - If your income varies during the year, you may complete the annualized income installment worksheet. However, if you complete and use
line 14 for any installment you must complete it and use it for all installments.
NOTE: COMPLETE LINES 15-17 FOR ONE COLUMN BEFORE
COMPLETING THE NEXT COLUMN.

Line 10 - Multiply line 9 by 6.9762% (0.069762).
Line 11 - If you paid the tax balance after 4/15/2025, enter zero (0). If you
paid the tax balance due before 4/15/2025, multiply the number of days
paid before 4/15/2025 by the amount on line 9 and by 0.000191 and enter
the result on line 11.
Note: Taxpayers with a fiscal-year end other than December 31, 2024
should substitute 4/15/2025 with the 15th day of the fourth month following
the end of their taxable year.
Line 12 - Subtract line 11 from line 10. Enter here and in the space
provided on RI-1040C, line 18.

However, if your payment due date fell between April 15, 2024 and
June 15, 2024, enter 7/15/2024.

Line 15 - Enter the amount from line 13 (or from line 14, if line 14 was
completed).
Line 16 - You are considered to have paid Rhode Island withholding tax
evenly during the year unless you can show otherwise. Therefore, you
are considered to have paid one-fourth of your Rhode Island withholding
on each installment due date. Divide the total amount withheld by 4 and
enter the results in each column.
For tax year 2024, calendar year end taxpayers ONLY leave Column A
blank, enter 50% of the total amount withheld in Column B, 25% of the
total amount withheld in Column C and the remaining 25% of the total
amount withheld in Column D.

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