If line 27 exceeds your total payments on line 33 by $300 or more and this difference is more than ten percent of your line 27 amount, you may owe a penalty. If you have underpaid your estimated tax for any period, we will fill out a Form 2210N, Individual Underpayment of Estimated Tax, to calculate any possible penalty.

You do not owe Form 2210N penalty if you had no income tax liability for 2002, you were a U.S. citizen or resident for all of 2004, and your 2004 return was for 12 full months. Also, if the total of Nebraska tax withheld, line 28, and your estimated payments, line 29, is at least as much as your 2004 income tax liability, you will not owe a penalty.

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