Colorado Form DR 0106EP – Fill Out and Use This PDF

(0042) DR 0106EP (09/26/13)

COLORADO DEPARTMENT OF REVENUE

2014 Colorado Composite

Nonresident Estimated Tax Payment Voucher

For the calendar year 2014 or the iscal year:

Beginning (MM/DD/YYYY)

Ending (MM/DD/YYYY)

*140106EP19999*

Return this voucher with check or money order payable to the Colorado Department of Revenue, Denver, Colorado 80261-0008. Write your Colorado Account Number and “2014 Form 0106EP” 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.

Name of Organization		FEIN			Colorado Account Number
Address
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.					Amount of Payment
Your bank account may be debited as early as the same 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

Estimated tax is the method used to pay tax on income that is not subject to withholding. Individuals who are not residents of Colorado (nonresidents) must pay tax on any

Colorado-source income. This is intended for nonresident individuals who are included in a form 106 composite iling. See publications FYI – Income 51 and Income 54 for more

information, available at www.TaxColorado.com

General Rule

In most cases, you will pay estimated tax if an individual partner expects to owe more than $1,000 in tax for 2014, after subtracting any withholding or refundable credits they might have. This rule must be calculated for each individual included in the composite return, and not as the composite as a whole.

Required Payments

The required annual amount to be paid by each individual included in the composite (if not excluded by the general rule) 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 individual iled a

Colorado return, and the federal adjusted gross

income on that return was $150,000 or less (or, if married iling separately, $75,000 or less).

c.110% of the preceding year’s net Colorado tax

liability. This amount only applies if the preceding year was a 12-month year, and the individual iled a

Colorado return.

*The net Colorado tax liability is deined as the sum of

Colorado tax, alternative minimum tax, and the recapture of prior year credits, minus the sum of all credits other than withholding and/or estimated tax credits.

Calculating the Payment

Use the provided Worksheet to calculate the amount of estimated tax owed for each nonresident individual included in the composite. Reference the previous year Colorado income tax return form and instructions for help determining taxable income. Submit payments according to the due date table provided.

It is strongly recommended that these payments be submitted electronically to avoid problems and delays. 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 an Estimated Tax Penalty. Exceptions will be given to farmers or ishermen who ile and remit full payment by

March 1. Otherwise, penalty will be calculated for each

missed or late payment. For calculation speciics, or to remit this penalty before being billed, see Form 204.

Refunds

Estimated tax payments can only be claimed as prepayment credit on the 2014 Colorado income tax return. Therefore, estimated payments cannot be refunded

in any manner until such time that the Colorado income tax return is iled.

Go Green with Revenue Online

www.Colorado.gov/RevenueOnline allows taxpayers to ile taxes, make payments and monitor their accounts. Form 106EP is not required if an electronic payment is remitted through this site. Please be advised that a nominal processing fee may apply to online payments.

Pay by Electronic Funds Transfer (EFT)

EFT payments can be made safely and for free, and can be scheduled up to 12 months ahead of time to avoid forgetting to make a payment. This requires pre-registration before payments can be made. Visit www.Colorado.gov/revenue/eft for registration information.

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