Form 80-320-22-8-1-000 (Rev. 10/22)                                                                                           Reset Form
                                                                         Mississippi
                                                                   Individual Income Tax                                      Print Form
                                                             Interest and Penalty Worksheet
Taxpayer First Name                             Initial  Last Name                                       SSN

Spouse First Name                               Initial  Last Name                                       Spouse SSN

Mailing Address (Number and Street, Including Rural Route)                                                  Farmers or Fishermen (see instructions)

City                                            State        Zip                      County Code           Filing Requirements Met After Due Date
                                                                                                            (see instructions)
 INTEREST ON UNDERPAYMENT OF ESTIMATED TAX
                                                                                                            CALCULATION OF ESTIMATE PAYMENT
1    2022 Mississippi income tax liability (see instructions)                                               1                                       .00
2    Multiply the amount on line 1 by 80% and enter the result                                              2                                        00
                                                                                                                                                    .
3    2021 Mississippi income tax liability (see instructions)                                               3                                        00
                                                                                                                                                    .
4    Enter the lesser of line 2 or line 3 (see instructions)                                                4                                       .00
                                                                                      A                  B                    C                    D
                    INTEREST CALCULATION                                          Apr. 15, 2022      June 15, 2022 Sept. 15, 2022 Jan. 15, 2023
5    Required installments  Enter 1/4th (.25) of line 4 

6    Income tax withheld (column A only) and estimated tax paid 
      (enter total estimated tax paid as of payment due dates) 
7    Overpayment (negative) or underpayment (positive) - carryforward 
      (from line 8) from previous column(s) line 8.
8    Underestimate subject to interest (line 5 minus line 6 plus line 7); 
      enter result here and on line 7, columns B through D.
9    Enter percentage of interest (compute interest at 1/2% per month)

10  Interest due (multiply line 8 by line 9; if line 8 is negative, enter  
      zero)

11  Total underestimate interest due       (enter the total of line 10, columns A through D)                11                                      .00

 FIRST-TIME HOME BUYER PENALTY

12  First-time Home Buyer Penalty (see instructions)                                                        12                                      .00

 LATE FILING PENALTY

13  Balance due (from Form 80-105 (Resident), page 1, line 35 or from Form 80-205                           13                                      .00
      (Non-Resident/Part-Year), page 1, line 36) 
14  Late filing penalty (5% per month not to exceed 25% on amount of tax due, line 13,                      14                                      .00
      minimum $100; see instructions)
 LATE PAYMENT INTEREST AND PENALTY

15  Balance due (from Form 80-105 (Resident), page 1, line 35 or from Form 80-205 (Non-Resident/            15                                      .00
      Part-Year), page 1, line 36)  
16  Late payment interest (compute interest at 1/2% per month on the amount of tax due,                     16                                      .00
      line 15; see instructions)  
17  Late payment penalty (compute penalty at 1/2% per month not to exceed 25% on the amount                 17                                      .00
      of tax due, line 15; see instructions) 
18  Total late payment interest and penalty (line 16 plus line 17)                                          18                                      .00

 TOTAL INTEREST AND PENALTY

19  Total interest and penalty      (line 11, plus line 12, plus line 14 and line 18) Enter here and on     19                                      .00
       Form 80-105, line 36 or Form 80-205, line 37.

Form 80-320-22-8-2-000 (Rev. 10/22)
                                                         Mississippi
                                              Individual Income Tax
                                   Interest and Penalty Worksheet Instructions

Use Form 80-320 if your 2022 Mississippi income tax liability exceeds $200 to calculate interest on underpayment of estimated tax.  This
form is also used to calculate first-time home buyer penalty, late payment interest and penalty, and the late filing penalty for the Resident
Individual Income Tax Return (Form 80-105) and the Non-Resident/Part-Year Resident Return (Form 80-205).  

Specific Line Instructions 

Exceptions

        Gross income from farming or fishing is at least two-thirds of total gross income and (a) estimate tax paid by the 15th day of 
        the first month after the close of the income year or (b) income tax return is filed by the first day of the third month following 
        the close of the income year and tax shown due is paid.

        Filing requirements met after payment due date - compute interest in applicable columns and provide an explanation below.

Underestimate

Line 1  Enter your 2022 Mississippi net income tax liability from Form 80-105, line 21, (Resident) and Form 80-205, line 23    
        (Non-Resident/Part Year).  If your 2022 Mississippi Income Tax Liability is $200 or less, do not complete the remainder of this 
        form; no interest is due on underestimate of tax.

Line 3  Enter your 2021 Mississippi net income tax liability from Form 80-105, line 20, (Resident) and  Form 80-205, line 22 
        (Non-Resident/Part-Year).

Line 4  Enter the lesser of line 2 or line 3.  If line 3 is zero and your 2022 Mississippi income tax liability (line 2) exceeds $200 
        and no estimate payments for the 2022 tax year were made, enter the amount from line 2.

First-time Home Buyer Penalty

Line 12 Enter the first-time home buyer penalty due. Add penalty of 10% for withdrawal of any unqualified expenses, using the 
        amount from Form 80-108, Part V, Schedule N, Line 2. (See Form 80-100, Instruction Booklet for more details).   

Late Filing Penalty 

Line 14 Enter late filing penalty due.  Add penalty of 5% per month, not to exceed 25% in the aggregate, from the extension
        due date of the return, October 15th, on the amount of net tax due from Form 80-105, line 35 (Resident) and Form 80-205, 
        line 36 (Non-Resident/Part-Year).  The penalty shall not be less than $100.

Late Payment Interest and Penalty

Line 15 Enter balance due.  From Form 80-105, line 35 (Resident) and Form 80-205, line 36 (Non-resident/Part-Year).

Line 16 Enter late payment interest due.  Add interest of 1/2% per month from the original due date of the return, April 15th, 
        on the amount of tax due from line 15.

Line 17   Enter late payment penalty due.  Add penalty of 1/2% per month, not to exceed 25% in the aggregate, from the original due 
        date of the return, April 15th, on the amount of tax due from line 15.

Line 18 Enter the total late payment interest and penalty by adding line 16 and line 17.

Total Interest and Penalty

Line 19 Enter the total interest and penalty by adding line 11, plus line 12, plus line 14 and line 18. Enter here and on Form 80-105, 
        line 36 (Resident) and Form 80-205, line 37 (Non-Resident/Part-Year).   

Form 80-320-22-8-3-000 (Rev. 10/22)
                                                                        Mississippi
                                                               Individual Income Tax
                                                  Underestimate Computation Example

Line 5    Required installments.  Enter 1/4th (.25) of line 4 in each columns A through D.  Divide the amount on Line 4 by (4) four and  
          enter in each column A through D.

Line 6    Income tax withheld (column A only) and estimated tax paid.  For column (A) only, enter the total overpayment from prior 
          year, estimated tax paid and/or withholding as of payment due date.  In remaining columns B through D enter estimated  
          tax paid as of payment due dates on line 6.  If line 6 is equal to or more than line 4 for all payment periods, stop here; you do  
          not owe the penalty.
Line 7  Overpayment (negative) or underpayment (positive) - carryforward (from line 8) any overpayment or underpayment from 
          previous column(s) line 8.

Line 8  Underestimate subject to interest (line 5 minus line 6 plus line 7); enter result here and on line 7, columns B through D.

Line 9    Enter percentage of interest (compute interest at 1/2% per month from payment due date until paid or next payment due
          date, whichever is earlier).

Line 10  Interest due (multiply line 9 by line 10);           if line 8 is negative enter zero on line 10.

Line 11  Total underestimate interest due (enter the total of line 10, columns A through D); If an overpayment is due, enter here and on 
          Form 80-105, line 30 and Form 80-205, line 32.

Example:

 INTEREST ON UNDERPAYMENT OF ESTIMATED TAX
                                                                                                          CALCULATION OF ESTIMATE PAYMENT
1    2022 Mississippi income tax liability (see instructions)                                             1                 6520.00
2    Multiply the amount on line 1 by 80% and enter the result                                            2                 5216 00
                                                                                                                                       .
3    2021 Mississippi income tax liability (see instructions)                                             3                 4510 00
                                                                                                                                       .
4    Enter the lesser of line 2 or line 3 (see instructions)                                              4                 4510.00
                                                                                  A          B                 C            D
                    INTEREST CALCULATION                                        Apr-15-2022  Jun-15-2022       Sept-15-2022 Jan-15-2023
5    Required installements  Enter 1/4th (.25) of line 4 in columns A  
      through D)                                                                  1127.50    1127.50           1127.50      1127.50
6    Income tax withheld (column A only) and estimated tax paid 
      (enter total estimated tax paid as of payment due dates in columns 
      A through D).                                                               1500.00    1000.00           500.00             0.00
7    Overpayment (negative) or underpayment (positive) - carryforward 
      (from line 8) any overpayment or underpayment from previous 
      column(s) line 8.
                                                                                             (372.50)          (245.00)     382.50
8    Underestimate subject to interest (line 5 minus line 6 plus line 7); 
      enter result here and on line 7, columns B through D.                     (372.50)     (245.00)          382.50       1510.00
9    Enter percentage of interest (compute interest at 1/2% per 
      month from payment due date until paid or next payment due 
      date, whichever is earlier)
                                                                                  0.010      0.015             0.020        0.015
10   Interest due (multiply line 8 by line 9; if line 8 is negative, enter  
       zero)                                                                        0.00                  0.00  7.65        22.65

11  Total underestimate interest due       (enter the total of line 10, columns A through D)              11                30.30