Fillable Printable Form M-2220
Fillable Printable Form M-2220
Form M-2220
Enclose this form with your return. Please print in ink or type.
Name of corporation Federal Identification number
Type of return filed (fill in one only):
355 355U 355S Other
Figuring your underpayment. See instructions.
11 (from Form 355, line 11 or Form 355S, line 14). Commercial banks, insurance companies, and public service companies
enter total excise due from return. Form 355U filers enter the amount from Schedule CG, Part 1, line 1 reduced by any
voluntary contributions included in that amount. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
12 Enter 90% of line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
13 Enter 90% of 2016 tax using 2015 income apportionment percentage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
14 Enter 2015 tax (from 2015 Form 355, line 11; 2015 Form 355S, line 14; or 2015 Form SBC, line 6). Large corporations
or short taxable year corporations, see instructions. If 2015 return not filed, leave blank . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
15 Enter line 2, 3 or 4, whichever is smallest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
16 Enter in col’s. a through d (respectively) the in-
a. b. c. d.
stallment dates of the 15th day of the 3rd, 6th,
9th and 12th months of your taxable year . . . . . 6
17 Enter in col. a line 5 × 40%
Enter in col. b line 5 × 25%
Enter in col. c line 5 × 25%
Enter in col. d line 5 × 10% . . . . . . . . . . . . . . . . . 7
Fill in if you are a new corporation.
18 Amount paid or credited for each period. . . . . . . 8
19 Overpayment of previous installment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
10 Total. Add lines 8 and 9 . . . . . . . . . . . . . . . . . . 10
11 Overpayment. Subtract line 7 from line 10 . . . . 11
12 Underpayment. Subtract line 10 from line 7 . . . 12
Complete reverse to calculate underpayment penalty.
Massachusetts Department of Revenue
Form M-2220
Underpayment of Massachusetts
Estimated Tax by Corporations
2016
Name of corporation Federal Identification number
Figuring your underpayment penalty a. b. c. d.
Enter same installment dates used in line 6 . . . . . . . 3
13 Amount of underpayment from line 12 . . . . . . . 13
14 Enter the date of payment or the 15th day of
the 3rd month after the close of the taxable
year, whichever is earlier . . . . . . . . . . . . . . . . . 14
15 Number of days from due date of installment
to the date shown in line 14 . . . . . . . . . . . . . . . 15
16 Number of days in line 15 after 3/15/16 and
before 4/1/16. . . . . . . . . . . . . . . . . . . . . . . . . . . 16
17 Number of days in line 15 after 3/31/16 and
before 7/1/16. . . . . . . . . . . . . . . . . . . . . . . . . . . 17
18 Number of days in line 15 after 6/30/16 and
before 10/1/16. . . . . . . . . . . . . . . . . . . . . . . . . . 18
19 Number of days in line 15 after 9/30/16 and
before 1/1/17. . . . . . . . . . . . . . . . . . . . . . . . . . . 19
20 Number of days in line 15 after 12/31/16 and
before 4/1/17. . . . . . . . . . . . . . . . . . . . . . . . . . . 20
21 Number of days in line 15 after 3/31/17 and
before 7/1/17. . . . . . . . . . . . . . . . . . . . . . . . . . . 21
22 Number of days in line 15 after 6/30/17 and
before 10/1/17. . . . . . . . . . . . . . . . . . . . . . . . . . 22
23 Number of days in line 15 after 9/30/17 and
before 1/1/18. . . . . . . . . . . . . . . . . . . . . . . . . . . 23
24 Number of days in line 15 after 12/31/17 and
before 2/16/18. . . . . . . . . . . . . . . . . . . . . . . . . . 24
25 Underpayment in line 13 × (number of days
in line 16 ÷ 365) × 4% . . . . . . . . . . . . . . . . . . . . 25
26 Underpayment in line 13 × (number of days
in line 17 ÷ 365) × 5% . . . . . . . . . . . . . . . . . . . . 26
27 Underpayment in line 13 × (number of days
in line 18 ÷ 365) × 5% . . . . . . . . . . . . . . . . . . . . 27
28 Underpayment in line 13 × (number of days
in line 19 ÷ 365) × 5% . . . . . . . . . . . . . . . . . . . . 28
29 Underpayment in line 13 × (number of days
in line 20 ÷ 365) × 5% . . . . . . . . . . . . . . . . . . . . 29
30 Underpayment in line 13 × (number of days
in line 21 ÷ 365) × 5% . . . . . . . . . . . . . . . . . . . . 30
31 Underpayment in line 13 × (number of days
in line 22 ÷ 365) × 5% . . . . . . . . . . . . . . . . . . . . 31
32 Underpayment in line 13 × (number of days
in line 23 ÷ 365) × 5% . . . . . . . . . . . . . . . . . . . . 32
33 Underpayment in line 13 × (number of days
in line 24 ÷ 365) × 5% . . . . . . . . . . . . . . . . . . . . 33
34 Add lines 25 through 33 . . . . . . . . . . . . . . . . . . 34
35 Total of amounts in line 34. Enter on Form 355, line 24; Form 355U, line 41; Form 355S, line 27; or Form 355 SC, line 29 35
FORM M-2220, PAGE 2
Form M-2220 Instructions
General Information
Who should use this form. Corporations taxed under Ch. 63 of the
Massachusetts General Laws should use Form M-2220 to determine
whether they paid the correct amount of estimated tax by the proper due
date. If not, a penalty may be imposed on the underpayment amount.
Note: If you are claiming a refundable film credit on your return, you are
not subject to the underpayment penalty. Do not file this form.
Short year. Corporations are liable for estimated payments even if
there was no return filed for 2015 or if a return filed for 2015 was for
less than 12 months. Corporations meeting either of these conditions
should enter the smaller of lines 2 or 3 in line 5. See Massachusetts
Regulation 830 CMR 63B.2.2 for additional information.
Large corporation. Any corporation having $1 million or more of fed-
eral taxable income in any of its three preceding taxable years (IRC
Sec. 6655(g)) may only use its prior year tax liability to calculate its first
quarterly estimated payment. Any reduction in the first installment pay-
ment must be added to the second installment payment.
Note: New corporations in their first full taxable year with less than 10
em ployees have lower payment percentages — 30-25-25-20%; 55-
25-20%; and 80-20%. New corporations should check the box in line
7 and use these percentage amounts to complete line 7.
Commercial banks, insurance companies and public service com -
panies. Enter in line 1 the Total Excise Due amount from the re turn
being filed. Also, if an underpayment penalty is due, show this amount
in the bottom margin of page 1 of your respective return as “underpay-
ment pen alty” and increase your total payment due or de crease excess
payment to be refunded.
Line Instructions
Line 3. Multiply 2016 income measure of excise and non-income mea-
sure of excise (tangible property or taxable net worth) by 2015 appor-
tionment factor. Then multiply the result by 2015 tax rate. Multiply that
result by .90 (90%) and enter the result on line 3.
Lines 7 through 12. To determine the underpayment amount, com-
plete lines 7 through 12 for each appropriate column. If line 11 shows
an overpayment, that overpayment may first be used as a payment of
any existing underpayment amount. Overpayments used as payments
of prior underpayment amounts do not decrease the actual underpay-
ment amount but serve to reduce instead the period of underpayment
subject to penalty. If there are no existing underpayment amounts, the
overpayment is applied as a credit against the next installment. If more
than one payment is made for a given installment, attach separate com-
putations for each payment.
