
IN152  Underpayment of Estimated Tax Penalty and Interest Calculator
1. 2005 Vermont Tax: From Form IN111 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 IN111 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:




