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4        State of Rhode Island Division of Taxation                                                                                                                                                             4
5        2024 Form RI-2220                                                                                                                                                                                      5
6        Underpayment of Estimated Tax by Corporate Filers                                                                                                    24112699990101                                    6
7                                                                                                                                                                                                               7
8  Name shown on Form RI-1120C, RI-1120S, or RI-1065                                                                                                                     Federal employer identification number 8
9                                                                                                                                                                                                               9
10 XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX                                                                                                                  99-9999999                           10
11                                                                                                                                                                                                              11
12 CHECK THE BOX   IF THE BELOW          APPLIES     :                                                                                                                                                          12
13                                                                                                                                                                                                              13
14    TAXPAYER IS USING THE ANNUALIZATION OF INCOME METHOD                                                                                                                                                      14
15                                                                                                                                                                                                              15
16                                                                                                                                                                                                              16
17                                                                                                                                                                                                              17
18 PART 1 - REQUIRED ANNUAL PAYMENT                                                                                                                                                                             18
19  1 Enter your 2024  Rhode Island tax amount from RI-1120C, line 13; RI-1120S, line 8a; or RI-1065, line 8a.........................                                     1  9999999999 99                     19
20  2 Enter 80% of the amount shown on line 1...............................................................                                         2 9999999999 99                                            20
21  3 Enter your 2024  Rhode Island pass-through withholding amount from Form RI-1120C, line 17b...................................                                        3  9999999999 99                     21
22  4 Subtract line 3 from line 1.  If $500 or less, do not complete the rest of this form.......................................................                          4  9999999999 99                     22
23  5 Enter your 2023  Rhode Island tax amount from RI-1120C, line 13, RI-1120S, line 8a, RI-1065, line 8a or RI-PTE, line 5                                               5  9999999999 99                     23
24  6 EnterSMALLERthe  of line 2 or line 5........................................................................................................................         6  9999999999 9924
25                                                                                                                                                                                                              25
26 PART 2 - SHORTCUT METHOD                                                                                                                                                                                     26
27 You can use this method if you meet the following conditions (Otherwise, you must complete parts 3 and 4 to figure your underestimating interest):27
28    1  You made no estimated payments  ORall 4 estimated payments were equal and paid by the appropriate due dates;                                                                                           28
29    2    ANDyou did not complete RI-2220, part 5 (Annualized Income Installment Worksheet).                                                                                                                   29
30  7 Enter the amount from Part 1, line 6 above.................................................................................................................          7  9999999999 99                     30
31  8 Withholding and estimated tax paid from RI-1120C, lines 16 and 17b; RI-1120S, line 9a; or RI-1065, line 9a.............................                              8  9999999999 99                     31
32  9 Underpayment.  Subtract line 8 from line 7.  If zero or less, enter $0..........................................................................                     9  9999999999 99                     32
33 10 Multiply line 9 by 7.2307% (0.072307).........................................................................................................................       10 9999999999 99                     33
34 11 If the amount on line 9 was paid on or after 4/15/2025, enter $0                                                                                                                                          34
35    If the amount on line 9 was paid before 4/15/2025, make the following calculation:                                                                                                                        35
36    The amount on line 9 (times) the number of days paid before 4/15/2025 (times) 0.000198 and enter the result here.                                                    11 9999999999 99                     36
37 12 UNDERESTIMATING INTEREST.  Subtract line 11 from line 10.  Enter here and on RI-1120C, line 20c; RI-1120S, line 12c; or                                                                                   37
38    RI-1065, line 12c.  Attach this form to your Rhode Island return...............................................................................                      12 9999999999 99                     38
39    Note:  Taxpayers with a fiscal year end other than 12/31/2024 should substitute 4/15/2025 with the 15th day of the                                                                                        39
40    fourth month following the end of their taxable year on line 11.                                                                                                                                          40
41                                                                                                                                                                                                              41
42 PART 3 - FIGURE YOUR UNDERPAYMENTDRAFT PAYMENT DUE DATES                                                                                                                                                     42
43                                                                                                                                                   Column A   Column B   Column C   Column D                  43
                                                                                                                                                     04/15/2024 06/15/2024 09/15/2024 12/15/2024
44                                                                                                                                                                                                              44
45 13 Divide the amount on line 6 by four (4) and enter the result in each column.....                                                            13 9999999999999999999999999999999945
46                                                                                                                                                                                                              46
47 14 Annualized income installments from Part 5, line 33.  NOTE: Complete lines                                                                                                                                47
48    15 through 17 in one column before completing the next column..................                                                             14 9999999999999999999999999999999948
49                                                                                                                                                                                                              49
50 15 Enter the amount from line 13 or line 14 if applicable ....................................                                                 15 9999999999999999999999999999999950
51                                                                                                                                                                                                              51
52 16 Rhode Island tax withheld and estimated tax paid.  If line 16 is equal to or                                                                                                                              52
      more than line 15 for all installment periods, do not10/02/2024complete or file this                                                        16
53                                                                                                                                                   9999999999999999999999999999999953
54    form unless you report annualized income installments on line 14................                                                                                                                          54
55 17 UNDERPAYMENT.  Subtract line 16 from line 15 OR                                                                                                                                                           55
56    OVERPAYMENT.  Subtract line 15 from line 16..................................................                                               17 9999999999999999999999999999999956
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4       State of Rhode Island Division of Taxation                                                                                                                                     4
5       2024 Form RI-2220                                                                                                                                                              5
6       Underpayment of Estimated Tax by Corporate Filers                                                                              IMAGEONLY                                       6
7                                                                                                                                                                                      7
8  Name shown on Forms RI-1120C, RI-1120S, or RI-1065                                                                                           Federal employer identification number 8
9                                                                                                                                                                                      9
10 XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX                                                                                         99-9999999                           10
11                                                                                                                                                                                     11
12 PART 4 - HOW TO FIGURE THE CHARGES                                                                                                  PAYMENT DUE DATES                               12
                                                                                                                          Column A     Column B     Column C             Column D 
13                                                                                                                        04/15/2024   06/15/2024   09/15/2024           12/15/2024    13
   18 Payment date or date listed in instructions for line 18, whichever is earlier...      18
14                                                                                                                        123124MMDDYY 123124MMDDYY 123124MMDDYY         123124MMDDYY  14
15 19 a Number of days from the installment date to the date of payment or the due                                                                                                     15
16    date of the next installment, whichever is earlier (see instructions) ............... 19a                           999 days     999 days     999 days                           16
17    b Number of days on line 19a X 12% X underpayment on line 17....................                                                                                                 17
18                       366                                                                19b                           9999999 9999999 9999999                                      18
19 20 a Number of days from December 15, 2024 to the date of payment or December 31, 2024, whichever is earlier ........................                             20a 999 days 19
20    b Number of days on line 20a X 12% X underpayment on line 17.................................................................................................                    20
21                       366                                                                                                                                         20b 999999921
22 21 a Number of days from January 1, 2025 to the date of payment or April 15, 2025, whichever is earlier........................................                   21a    days 22
                                                                                                                                                                         999
23    b Number of days on line 21a X 12% X underpayment on line 17 .................................................................................................                   23
24                       365                                                                                                                                         21b 9999999       24
25 22 UNDERESTIMATING INTEREST. Total amount from all columns on lines 19b, 20b and 21b. Enter here and on RI-1120C,                                                                   25
26    line 20c; RI-1120S, line 12c or RI-1065, line 12c .   Attach this form to your Rhode Island return ..............................................              22  9999999       26
27                                                                                                                                                                                     27
28                                                                                                                                                                                     28
29 Part 5 Annualized Income Installment Worksheet                                                                                                                                      29
30 IMPORTANT: Complete one column lines 23 - 33 before completing the next column.                                                                                                     30
31                                                                                                                        01/01/2024   01/01/2024   01/01/2024           01/01/2024    31
32                                                                                                                        03/31/2024   05/31/2024   08/31/2024           12/31/2024    32
33                                                                                                                                                                                     33
34 23 Figure your actual taxable income ...........................................................................       9999999 9999999 9999999 9999999                              34
35                                                                                                                                                                                     35
36 24 Annualization amount...................... ........................................................................ 4            2.4          1.5                  1.09091       36
37                                                                                                                                                                                     37
38 25 Multiply the amount on line 23 by the indicator on line 24 .......................................                  9999999 9999999 9999999 9999999                              38
39                                                                                                                                                                                     39
40 26 Figure your Rhode Island tax on the amount on line 25 ..........................................                    9999999 9999999 9999999 9999999                              40
41                                                                                                                                                                                     41
42 27 Applicable percentage.............................................................................................DRAFT20%       40%          60%                  80%           42
43                                                                                                                                                                                     43
44 28 Multiply the amount on line 26 by the applicable percentages on line 27.....................                        9999999 9999999 9999999 9999999                              44
45                                                                                                                                                                                     45
46 29 Enter the combined amount from line 33 for all preceding periods...............................                                  9999999 9999999 9999999                         46
47                                                                                                                                                                                     47
48 30 Subtract line 29 from line 28 (not less than zero) ....................................................             9999999 9999999 9999999 9999999                              48
49                                                                                                                                                                                     49
50 31 Enter the amount from RI-2220, page 1, line 13 for the period plus the amount                                                                                                    50
51    from line 32 of this worksheet for the preceding period ...........................................                 9999999 9999999 9999999 9999999                              51
52                                                                                                                                                                                     52
   32 If line 31 is more than line 30, SUBTRACT line 30 from line 31, OTHERWISE enter $010/02/2024
53                                                                                                                        9999999 9999999 9999999 9999999                              53
54                                                                                                                                                                                     54
55 33 Enter the smaller of line 30 or line 31 here and on page 1, line 14..........................                       9999999 9999999 9999999 9999999                              55
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4          State of Rhode Island Division of Taxation                                                                                                                          4
5          2024 Form RI-2220                                                                                                                                                   5
6          Underpayment of Estimated Tax by Corporate Filers                                                                                                                   6
7                                                                                                                                                                              7
8                                                                                                                                                                              8
9                         PURPOSE OF THIS FORM                                                                PART 3 - FIGURE YOUR UNDERPAYMENT                                9
                                                                                                   
10 Entities should use this form to determine if their income tax was suffi-                      Payment Due Dates:                                                           10
11 ciently prepaid throughout the year by having Rhode Island tax withheld or                     Column A:                                                                    11
12 by paying Rhode Island estimated tax.  If not, a charge may be imposed                         ▪ Calendar year-end taxpayers: For tax year 2024, leave this blank.          12
13 on the underpayment of the taxes.  Complete Part 1 of this form to deter-                      ▪ Taxpayers with a fiscal-year end other than 12/31/2024 should enter the    13
   mine if the payment of the charge may be avoided.                                                15th day of the fourth month of the taxable year. 
14                                                                                                                                                                             14
15 For tax year 2024 ONLY, if any of your due dates fell between April                              However, if your payment due date fell between April 15, 2024 and          15
16 15, 2024 and June 15, 2024, you should account for the extended due                              June 15, 2024, enter 7/15/2024.                                            16
17 dates allowed by the R.I. Division of Taxation and intended to provide                                                                                                      17
   relief to taxpayers impacted by the severe storms and flooding that                            Column B: 
18 occurred in Rhode Island at the beginning of 2024.  The due dates for                          ▪ Calendar year-end taxpayers: For tax year 2024, enter 7/15/2024.           18
19 payments to be paid from April 15, 2024 to June 15, 2024 were ex-                              ▪ Taxpayers with a fiscal-year end other than 12/31/2024 should enter the 19
20 tended to July 15, 2024.                                                                         15th day of the sixth month of the taxable year.                           20
21                                                                                                                                                                             21
                                                                                                    However, if your payment due date fell between April 15, 2024 and 
22              PART 1 - REQUIRED ANNUAL PAYMENT                                                    June 15, 2024, enter 7/15/2024.                                            22
23                                                                                                                                                                             23
24 Line - Enter12024your  Rhode Island tax amount from RI-1120C, line 13;                         Column C:                                                                    24
25 RI-1120S, line 8a; or RI-1065, line 8a.                                                        ▪ Calendar year-end taxpayers: For tax year 2024, enter 9/15/2024.           25
                                                                                                  ▪ Taxpayers with a fiscal-year end other than 12/31/2024 should enter the 
26 Line 2 - Enter 80% of the amount shown on line 1.                                                15th day of the ninth month of the taxable year.                           26
27                                                                                                                                                                             27
28 Line - Enter32024your  Rhode Island pass-through withholding amount                              However, if your payment due date fell between April 15, 2024 and          28
29 from Form RI-1120C, line 17b.                                                                    June 15, 2024, enter 7/15/2024.                                            29
                                                                                                   
30 Line 4 - Subtract line 3 from line 1.  If $500 or less, do not complete the                    Column D:                                                                    30
31 rest of this form.                                                                             ▪ Calendar year-end taxpayers: For tax year 2024, enter 12/15/2024.          31
32                                                                                                ▪ Taxpayers with a fiscal-year end other than 12/31/2024 should enter the 32
33 Line - Enter52023your  Rhode Island tax amount from                         RI-1120C, line 13;   15th day of the twelfth month of the taxable year.                         33
   RI-1120S, line 8a; RI-1065, line 8a, or RI-PTE, line 5.                                         
34                                                                                                  However, if your payment due date fell between April 15, 2024 and          34
35 Line 6 - Enter the smaller of line 2 or line 5 (including zero).  If line 6 is                   June 15, 2024, enter 7/15/2024.                                            35
36 zero, you do not owe any amount and need not complete the rest of this                                                                                                      36
37 form. However,mustyou  attach this form to your Rhode Island                                   Line -13    Divide the amount shown on line 6 by four (4) and enter the re-  37
   return.                                                                                        sult in each column.   
38                                                                                                                                                                             38
39                                                                                                For tax year 2024, calendar year end taxpayers ONLY leave Column A           39
40                        PART 2 - SHORTCUT METHOD                                                blank, enter 50% of line 6 in Column B, 25% of line 6 in Column C and the 40
41                                                                                                remaining 25% of line 6 in Column D.                                         41
   Line 7 - Enter the amount from line 6.                                                          
42                                                     DRAFTLine -14If your income varies during the year, you may complete the an-                                            42
43 Line 8 - Enter the amount of estimated tax paid and pass-through withhold-                     nualized income installment worksheet.  However, if you complete and use 43
44 ing received from pass-through entities for 2024 from RI-1120C, lines 16 and                   line 14 for any installment you must complete it and use it for all install- 44
45 17b; RI-1120S, line 9a; or RI-1065, line 9a.                                                   ments.                                                                       45
                                                                                                   
46 Line 9 - Subtract line 8 from line 7.                                                          NOTE: COMPLETE LINES 15-17 FOR ONE COLUMN BEFORE                             46
47                                                                                                COMPLETING THE NEXT COLUMN.                                                  47
48 Line 10 - Multiply line 9 by 7.2307% (0.072307).                                                                                                                            48
49                                                                                                Line 15 - Enter the amount from line 13 (or from line 14, if line 14 was     49
   Line 11 - If you paid the tax balance after 4/15/2025, enter zero (0). If you                  completed). 
50 paid the tax balance due before 4/15/2025, multiply the number of days                                                                                                      50
51 paid before 4/15/2025 by the amount on line 9 and by 0.00030 and enter                         Line 16 - Y ou are considered to have paid Rhode Island pass-through         51
52 the result on line 11.                                                                         withholding tax and evenly during the year unless you can show other-        52
                                                                               10/02/2024wise.  Therefore, you are considered to have paid one-fourth of your 
53                                                                                                                                                                             53
   Note: Taxpayers with a fiscal-year end other than December 31, 2024                            Rhode Island pass-through withholding on each installment due date. Di-
54 should substitute 4/15/2025 with the 15th day of the fourth month following                    vide the total amount withheld by 4 and enter the result in each column.     54
55 the end of their taxable year.                                                                                                                                              55
56                                                                                                For tax year 2024, calendar year end taxpayers ONLY leave Column A           56
57 Line 12 - Subtract line 11 from line 10.  Enter the result here and in the                     blank, enter 50% of the total amount withheld in Column B, 25% of the        57
   space provided on RI-1120C, line 20c; RI-1120S, line 12c; or RI-1065, line 12c.                total amount withheld in Column C and the remaining 25% of the total 
58                                                                                                amount withheld in Column D.                                                 58
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