Colorado Form 1Dr 0112Ep PDF Details

For corporations navigating tax responsibilities in Colorado, understanding and effectively handling the Colorado 1Dr 0112Ep form is crucial. Officially released by the Colorado Department of Revenue, this document serves as a 2014 Colorado Estimated Tax - Corporate Worksheet, essential for companies required to pay estimated taxes within the state. Estimating taxes accurately is a vital task for corporations, as it involves calculating potential tax liabilities to avoid underpayment penalties. The form outlines a clear process for determining estimated income tax, incorporating the corporate tax rate of 4.63%, and provides a detailed structure for recapturing prior year credits, calculating total liabilities, and deducting anticipated credits. It also sets forth the specifics regarding payment amounts, due dates, and the preferred methods of submission, notably highlighting the encouragement for electronic submissions to expedite processing and reduce errors. Furthermore, it includes provisions for adjustments based on fiscal years, and outlines penalties for failure to comply with the estimated tax payment requirements. This form is not just a bureaucratic necessity; it is a tool that assists corporations in fulfilling their tax obligations accurately and on time, thereby ensuring they remain in good standing while operating within Colorado.

QuestionAnswer
Form NameColorado Form 1Dr 0112Ep
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesTax2013CO_112EP _20131114 2014 colorado form 112

Form Preview Example

DR 0112EP (11/14/13)

 

 

 

 

 

COLORADO DEPARTMENT OF REVENUE

 

 

 

 

Denver CO 80261-0008

 

 

 

 

 

www.TaxColorado.com

 

 

 

 

 

2014

Colorado Estimated Tax - Corporate

 

 

 

 

 

Worksheet

 

 

 

 

 

 

 

 

 

1.

Estimated 2014 Colorado income tax—Corporate tax rate is 4.63%

 

 

00

2.

Recapture of prior year credits

 

 

 

00

3.

Total of lines 1 and 2

 

 

 

00

4.

Estimated 2014 Form 112CR credits

 

 

 

00

5.

Colorado tax liability, line 3 minus line 4

 

 

00

6.

Net estimated tax liability, line 5 times 70%

 

 

00

Payment Number

Net amount Due

2013 Overpayment Applied

Payment Due

Due Dates

 

1

$

$

$

April 15

 

 

 

 

 

 

 

2

$

$

$

June 15

 

 

 

 

 

 

 

3

$

$

$

September 15

 

 

 

 

 

 

 

4

$

$

$

December 15

 

 

 

 

 

 

 

Round your payment to the nearest dollar. If paying by check, the amount on the check and the amount entered on the payment voucher must be the same. This will help maintain accuracy in your tax account. It is strongly recommended that estimated payments be submitted online at www.Colorado.gov/RevenueOnline or by EFT at www.Colorado.gov/revenue/eft to avoid problems or delays with the 2014 income tax return.

Due Dates: If the due date falls on a weekend or federal holiday, payment will be due the next business day.

DETACH FORM

ON THIS LINEUse the coupon below only if you are unable to pay online or by EFT.

Cut here and send only the coupon below. Help us save time and your tax dollars.

(0022)

DR112EP (09/25/13)

COLORADO DEPARTMENT OF REVENUE

2014 Corporate

Estimated Tax Payment Voucher

Return this voucher with check or money order payable to the Colorado Department of Revenue, Denver, Colorado 80261-0008. Write your Colorado Account Number or FEIN and “2014 Form 0112EP” on your check or money order. Do not send cash. Enclose, but do not staple or attach, your payment with this voucher. File only if you are making a payment of estimated tax.

*140112EP19999*

 

Beginning (MM/DD/2014)

 

Ending (MM/DD/YYYY)

For the Calendar year 2014 or the iscal year:

 

 

 

 

 

 

Corporation Name

 

Colorado Account Number

 

 

 

 

 

 

Address

 

FEIN

 

 

 

 

 

 

 

 

City

State

Zip

 

Due Date (MM/DD/YY)

 

 

 

 

 

 

If No Payment Is Due, Do Not File This Form.

 

 

 

 

 

The State may convert your check to a one time electronic banking transaction. Your bank account may be debited as early as the same

Amount of Payment

day received by the State. If converted, your check will not be returned. If your check is rejected due to insuficient or uncollected funds,

 

 

the Department of Revenue may collect the payment amount directly from your bank account electronically.

 

 

 

 

 

(Do not write in space below)

 

$

.00

 

 

 

 

 

 

 

Corporate Estimated Income Tax

Instructions

See publication FYI Income 51 for more information, available at www.TaxColorado.com

General Rule

In most cases, a corporation is required to pay estimated tax if it can reasonably expect the net tax liability will exceed $5,000 for 2014. For taxpayers with a short taxable year, estimated tax payments must be remitted if the tax is expected to exceed $5,000 plus estimated credits.

Or, if a short taxable year is the result of a change in the accounting period, then income for the short period must be multiplied in a manner so that income is estimated at a full 12-month year. In this case, estimated tax would be due if the net tax liability on the calculated full-year is expected to exceed $5,000.

Required Payments

The required annual amount to be paid is the smaller of:

a. 70% of the actual net Colorado tax liability.

b.100% of the preceding year’s net Colorado tax liability.

This rule only applies if the preceding year was a

12-month tax year, the corporation iled a Colorado return, and the corporation is not deined as a large corporation* under section 6655 of the federal Internal Revenue Code.

*Any large corporation may base their irst quarter estimated tax payment on 25% of the tax liability from the previous year. However, the remaining payments must be based on the actual tax liability for the current year. If, after calculating the tax liability for the current year, it is determined that

the irst quarter was underestimated the shortage shall be calculated into and paid with the second quarter.

Calculating the Payment

Use the provided Worksheet to calculate the amount of estimated tax owed. Payments and forms shall be submitted using the same method (separate, consolidated, combined) and using the same account number as will be used on the annual income tax return, Form 112. If, for any reason, the

account numbers are inconsistent, the department must be notiied in writing prior to iling Form 112.

This notiication shall be mailed to:

Colorado Department of Revenue

Income Tax Section, Room 238

Denver CO 80261-0008

Remit payments according to the due date table provided (adjust for iscal year taxpayers). It is strongly

recommended that these payments be submitted electronically to avoid problems and delays. See the box below for details. The single form can be copied and used for each of the four quarterly payments if an electronic payment cannot be made for any reason.

Penalties

Failure to timely remit estimated tax as necessary will result

in a Estimated Tax Penalty. Penalty will be calculated for each missed or late payment. For calculation speciics,

or to remit this penalty before being billed, see Form 205, Underpayment of Corporate Estimated Tax.

Go Green with Revenue Online

Taxpayers can use www.Colorado.gov/RevenueOnline to

pay online. Online payments reduce errors and provide instant payment conirmation. Revenue Online also allows users to ile taxes, remit payments and to monitor their tax

accounts. The paper Form 0112EP or an online return is not required if an online payment is made. Please be advised that a nominal processing fee may apply to online payments.

Pay by Electronic Funds Transfer (EFT)

The EFT payment option is a free service. EFT payments can be made safely, and can be scheduled up to 12 months ahead of time to avoid forgetting to make a quarterly payment. EFT services require pre-registration before payments can be made. Visit www.Colorado.gov/revenue/eft

Additional information, FYI publications and forms are available at www.TaxColorado.com or you may call 303-238-SERV (7378) for assistance.

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