Free CT-222 - New York

Staple forms here

CT-222
Tax return filed: Name

New York State Department of Taxation and Finance

Underpayment of Estimated Tax By a Corporation
Tax Law Section 1085 All filers must enter tax period: beginning ending

Employer identification number

Read the instructions, Form CT-222-I, before completing. Part 1 -- Annual payment
1 Enter your 2008 corporation franchise, excise, or gross receipts tax after credits or the metropolitan transportation business tax (MTA surcharge) (if both, use separate forms) ......................................... 2 Multiply line 1 by 91% (.91) or, if a large corporation, 100% (1.0). Large corporations enter this amount on line 5 and skip lines 3 and 4 .......................................................................................... 3 Enter your 2007 corporation franchise, excise, or gross receipts tax after credits or the MTA surcharge 4 Enter the amount from line 103; if not using the line 9 exception, skip this line ................................. 5 Annual payment. Enter the lesser of lines 2, 3, or 4. Large corporations, enter the line 2 amount ..... Part 2 -- Reasons for filing (see instructions) 1. 2. 3. 4. 5.

Mark an X in the boxes below that apply. If any boxes are marked, you must file Form CT-222 even if you do not owe a penalty. 6 You are using the adjusted seasonal installment method. (see instructions; complete Schedule A) .............................................. 7 You are using the annualized income installment method. (see instructions; complete Schedule A).............................................. 8 You are not a large corporation and figure your estimated tax based on the prior year's tax (the prior year cannot be a short year, and your return must have shown a tax liability). ................................................................................................ 9 You are not a large corporation and figure your estimated tax by applying to the tax base on which the current year's tax was paid the facts shown on your return for, and the law applicable to, the preceding tax year, but using the rates applicable to the current year (complete Schedule B) ..............................................................................................................

Part 3 - Computing the underpayment -- for lines 11 through 19, complete one column before going to the next column. A
10 Installment due dates (see instructions) ................................ 11 Required installments (see instructions) ............................... 12 Estimated tax timely paid or credited for each period (see instructions) . For column A only, also enter the amount from this line on line 16. ..................................... 13 Enter amount, if any, from line 19 of the preceding column. 14 Add lines 12 and 13............................................................ 15 In column B, enter line 18, column A amount. In columns C and D, add amounts on lines 17 and 18 of the preceding column ............................................................... 16 In column A, enter the line 12 amount. For other columns, subtract line 15 from line 14. If zero or less, enter 0 ....... 17 If the amount on line 16 is zero, subtract line 14 from line 15. Otherwise, enter 0 .............................................. 18 Underpayment -- If line 16 is less than or equal to line 11, subtract line 16 from line 11. Otherwise, go to line 19 (see instructions)................................................................ 19 Overpayment -- If line 11 is less than line 16, subtract line 11 from line 16..........................................................

B

C

D

41501080094

Page 2 of 4 CT-222 (2008)

Part 4 -- Computation of the underpayment penalty
20 Enter the date of payment or the 15th day of the 3rd month after the end of the tax year, whichever is earlier
(mm-dd-yy) (see instructions) ....................................................

A First

B Second

C Third

D Fourth

21 Number of days from due date of installment to the date shown on line 20 ............................................................ 22 Number of days on line 21 after 3/15/08 and before 4/1/08 ................................................................... 23 Number of days on line 21 after 3/31/08 and before 7/1/08 ................................................................... 24 Number of days on line 21 after 6/30/08 and before 10/1/08 ................................................................. 25 Number of days on line 21 after 9/30/08 and before 1/1/09 ................................................................... 26 Number of days on line 21 after 12/31/08 and before 4/1/09 ................................................................... 27 Number of days on line 21 after 3/31/09 and before 7/1/09 ................................................................... 28 Number of days on line 21 after 6/30/09 and before 10/1/09 ................................................................. 29 Number of days on line 21 after 9/30/09 and before 1/1/10 ................................................................... 30 Number of days on line 21 after 12/31/09 and before 3/15/10 ................................................................. 31 Number of days on line 22 ÷ 366 × 9% × amount on line 18 ........................................................................ 32 Number of days on line 23 ÷ 366 × 8% × amount on line 18 ........................................................................ 33 Number of days on line 24 ÷ 366 × 7% × amount on line 18 ........................................................................ 34 Number of days on line 25 ÷ 366 × 8% × amount on line 18 ........................................................................ 35 Number of days on line 26 ÷ 365 × %* × amount on line 18 ........................................................................ 36 Number of days on line 27 ÷ 365 × %* × amount on line 18 ........................................................................ 37 Number of days on line 28 ÷ 365 × %* × amount on line 18 ........................................................................ 38 Number of days on line 29 ÷ 365 × %* × amount on line 18 ........................................................................ 39 Number of days on line 30 ÷ 365 × %* × amount on line 18 ....................................................................... 40 Add lines 31 through 39 ..................................................... 41 Underpayment penalty (see instructions) ............................. 42 Add line 41, columns A through D; enter here and on your franchise tax return or MTA surcharge return .............. 43 Multiply line 1 by 80% (.8) ................................................................................................................... 43. 44 Subtract line 11, column A from line 43 .............................................................................................. 44. 45 Divide line 44 by three ........................................................................................................................ 45. *For rates not shown, access our Web site or call the Corporation Tax Information Center (see Need help? in the instructions of your tax return).

41502080094

CT-222 (2008) Page 3 of 4

Schedule A, Part 1 -- Adjusted seasonal installment method (see instructions) Note: Use this method only if the base period percentage for any 6 consecutive months is at least 70%. Use lines 46 through 51 below to compute the base period percentage. When appropriate, in lieu of ENI, use the applicable base. A ­ 2005 B ­ 2006 C ­ 2007
46 Enter the period of 6 consecutive months for which the base percentage is to be computed: through ......... 47 Enter the ENI for the same 6 consecutive month period in preceding periods 48 Enter the total ENI for the entire year in preceding periods ............................ 49 In each column, enter as a percentage the result of dividing that column's line 47 by that column's line 48 .................................................................... 50 Add the percentages in line 49, columns A, B, and C, and enter the result here: 51 Base period percentage: Divide line 50 by three and enter the result here: Enter ENI for the following: 52a Tax year beginning in 2005 ................................................ 52b Tax year beginning in 2006 ................................................ 52c Tax year beginning in 2007 ................................................ 53 Enter the total of the amounts that enter into the computation of ENI for 2008 for the months delineated in each column................................................................ Enter ENI for the following periods: 54a Tax year beginning in 2005 ................................................ 54b Tax year beginning in 2006 ................................................ 54c Tax year beginning in 2007 ................................................ 55 Divide the amount in each column on line 52a by the amount in column D on line 54a ..................................... 56 Divide the amount in each column on line 52b by the amount in column D on line 54b ..................................... 57 Divide the amount in each column on line 52c by the amount in column D on line 54c ..................................... 58 Add lines 55 through 57 ..................................................... 59 Divide line 58 by three ........................................................ 60 Divide line 53 by line 59 ..................................................... 61 Figure the tax on the amount on line 60 using the instructions for your corporation's return (see instructions for MTA surcharge) ...... 62 Divide the amount in each of columns B and C on line 54a by the amount in column D on line 54a .......................... 63 Divide the amount in each of columns B and C on line 54b by the amount in column D on line 54b .......................... 64 Divide the amount in each of columns B and C on line 54c by the amount in column D on line 54c........................... 65 Add lines 62 through 64 ..................................................... 66 Divide line 65 by three ........................................................ 67 Multiply the amounts in columns B and C of line 61 by columns B and C of line 66. In column D, enter the amount from line 61, column D ....................................... 68 Enter any other taxes for each payment period (see instructions) 69 Total tax before credits (add lines 67 and 68) ........................... 70 Enter the amount of tax credits your corporation is entitled to for the months shown in each column heading above line 52a. .................................................. 71 Total tax after credits. Subtract line 70 from line 69. If zero or less, enter 0. .................................................... 72 If not a large corporation, enter .91(91%). Otherwise, enter 1. 73 Multiply line 71 by line 72 ...................................................

% % % % . If 70% or higher, continue with Schedule A, line 52a.

%

A

B -- 1st 5 months C -- 1st 8 months D -- 1st 11 months

1st 6 months

1st 9 months

Entire year

41503080094

Page 4 of 4 CT-222 (2008)

Schedule A, Part 2 -- Annualized income installment method A
74 75 76 77 78 79 80 81 82 83 84 85 86 Annualized periods (see instructions)......................................... See instructions .................................................................. See instructions .................................................................. Annualized taxable income. Multiply line 75 by line 76 ....... Figure the tax on the line 77 amount using the instructions for your corporation's return (see instructions for MTA surcharge) ..... Enter any other taxes for each payment period (see instr.) Total tax before credits (add lines 78 and 79) ........................ Tax credits (see instructions) ................................................. Total tax after credits. Subtract line 81 from line 80; if zero or less, enter 0 ..................................................... If not a large corporation, enter .91 (91%). Otherwise, enter 1............................................................................. Multiply line 82 by line 83 ................................................... Applicable percentage ........................................................ Multiply line 84 by line 85 ................................................... 1st

B
months 1st

C
months 1st

D
months

50%

75%

100%

Schedule A, Part 3 ­ Required installment -- In completing Part 3, complete one column before going to the next column. A
87 If only Schedule A, Part 1 or Part 2 is completed, enter the amount in each column from line 73 or line 86. If both parts are completed, enter the smaller of the amounts in each column from line 73 or line 86 ................................ 88 Add the amounts in all preceding columns of line 93 ......... 89 Subtract line 88 from line 87. If zero or less, enter 0 .......... 90 Subtract line 11, column A (MFI), from line 5. Divide the result by three and enter in each of columns B, C, and D 91 In column C, subtract line 89, column B from line 90, column B. If zero or less, enter 0. In column D, subtract line 93, column C from line 92, column C and enter the result ......................................................... 92 Add lines 90 and 91............................................................ 93 Required installments -- For column A, enter the amount from line 11, column A (MFI). For column B, enter the smaller of line 89, column B or line 90, column B. For columns C and D, respectively, enter the smaller of line 89 or line 92. Also enter each result on line 11 ......

B

C

D

Schedule B ­ Line 9 exception (see instructions)
94 95 96 97 98 99 100 101 102 103 2007 ENI base multiplied by 2008 ENI tax rate............................................................................... 94. 2007 capital base multiplied by 2008 capital tax rate ...................................................................... 95. 2007 MTI base multiplied by 2008 MTI tax rate .............................................................................. 96. 2008 fixed dollar minimum tax......................................................................................................... 97. Enter the amount from line 94, 95, 96, or 97, as applicable............................................................ 98. 2007 subsidiary capital base multiplied by 2008 subsidiary capital tax rate ................................... 99. Any other taxes (see instructions) ...................................................................................................... 100. Add lines 98, 99, and 100 ............................................................................................................... 101. 2007 tax credits ............................................................................................................................... 102. Recomputed tax (subtract line 102 from line 101); enter here and on line 4 ........................................ 103.

41504080094