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IN-152 - Underpayment of Estimated Tax Penalty and Interest Calculator

1. 2005 Vermont Tax: From Form IN-111 Section 7, subtract Lines 31c, 31d, 31e, 31f, 31g, and 31h from Section 5, Line 26.  Multiply by 90%:

2. 2004 Vermont Tax: From Form IN-111 Section 7, subtract Lines 31c, 31d, 31e, 31f, 31g, and 31h from Section 5, Line 26:

3. Enter the lesser of Line 1 and Line 2:




4. Tax payments required per quarter:

5. Sum of estimated tax paid and tax withheld, including 2004 overpayment.
(*Only enter timely payments):

6. Underpayment per quarter (Apply any excess to subsequent quarter):

7. Date you made payment or April 15, 2006, whichever is earlier:

8a. Number of days after the due date to date of payment, or Jan. 1, 2006, whichever is earlier:

8b. Number of days from Jan. 1, 2006 to date of payment, or April 15, 2006, whichever is earlier. 
4th quarter: Number of days from Jan. 15, 2006:


CALCULATION OF INTEREST

9a. Interest due for 2005 (Divide Line 8a by 365, multiply by 6.0%, then multiply by Line 6):

9b. Interest due for 2006 (Divide Line 8b by 365, multiply by 6.0%, then multiply by Line 6):


10. Total interest due (Add Lines 9a nd 9b):


CALCULATION OF PENALTY

11. Number of months from due date of payment to date shown on Line 7. (A portion of a month counts as a  whole month):


12. Penalty percentage (Multiply Line 11 by 1%):


13. Penalty (Multiply Line 6 by Line 12):



TOTAL INTEREST AND PENALTY

14. Add Lines 10 & 13:

Please tab through the fields.
The form will self calculate.



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Vermont Department of Taxes, 133 State Street, Montpelier, Vermont 05633-1401