Instructions For Idaho Form 41esr - State Tax Commission printable pdf download

TC41ESR-2

9-23-98

Instructions for Idaho Form 41ESR

Line 10.

A corporation must make estimated tax payments to the State

Line 10.

Line 10. Enter any overpayment shown on line 14 of the previ-

Tax Commission if it is required to make estimated payments to

ous column.

the Internal Revenue Service and will have an Idaho income tax

Line 11.

liability of $500 or more. Estimated payments are not required if

Line 11.

Line 11. If you had any underpayment in the previous column,

the corporation was not required to file an Idaho return the previ-

enter the amount of this period's payment that will be applied to

ous tax year.

the underpayment.

Form 41ESR is to be used by corporations to determine whether

Line 13.

Line 13. If your payments on line 12 are less than the payments

they underpaid their estimated tax and compute the interest on

due on line 8, subtract line 12 from line 8 and enter your under-

any underpaid amount. Additional copies of this form may be

payment here. If line 13 shows an underpayment, complete Part

needed in cases where multiple payments are made and applied

II to compute the interest.

to the underpayment of a prior period.

Line 14.

Line 14. If your payments on line 12 are more than the pay-

P P P P P AR

ART I.

T I.

T I. UNDERP

UNDERP

UNDERPA A A A A YMENT COMPUT

UNDERP

YMENT COMPUT

YMENT COMPUTA A A A A TION.

TION.

ments due on line 8, subtract line 8 from line 12 and enter your

Complete Part I to determine if you have an underpayment for

overpayment.

any of the payment periods.

P P P P P AR

T II.

UNDERP

UNDERPA A A A A YMENT INTEREST COMPUT

YMENT INTEREST COMPUT

YMENT INTEREST COMPUTA A A A A TION.

YMENT INTEREST COMPUT

TION.

ART II.

T II.

T II. UNDERP

UNDERP

YMENT INTEREST COMPUT

TION.

Line 1.

Line 1. Enter the tax amount reported on the 1998 return. For

If you computed an underpayment on line 13 of Part I, use this

Line 1.

Form 41, this is the amount on line 50 minus the amount on line

part to compute the interest due on the underpayment.

47. For Form 41S, this is the amount on line 52 minus the

amount on line 49.

Line 15.

Line 15. Enter the date you made a payment which was applied

to the underpayment amount shown on line 13, or enter the

Line 2.

Line 2. Enter the special fuels tax refund claimed on the corpo-

15th day of the 4th month following the close of the tax year,

Line 2.

rate return.

whichever is earlier.

Line 5.

Line 5. Enter the tax amount reported on the 1997 return. For

Line 16.

Line 16. Enter the number of days from the due date of the

Line 5.

Line 16.

Form 41, this is the amount on line 50 minus the amount on line

installment shown on line 7 to the date shown on line 15.

47. For Form 41S, this is the amount on line 52 minus the

amount on line 49.

Line 17.

Line 17. Divide the number of days shown on line 16 by the

number of days in the tax year. Multiply the results by the

Line 6.

Line 6. Enter the smaller of lines 4 or 5. If you used annualized

interest rate. The interest rate for 1998 was 8%. The interest

Line 6.

income to determine your estimated payments, use Part III to

rate for 1999 is 7%.

show the annualized computation.

Line 18.

Line 18. Multiply the applicable interest rate by the underpay-

Line 18.

Line 7.

Line 7. Enter the installment dates for your estimated payments.

ment shown on line 13.

The installment due dates for Idaho's estimated tax payments

will be the same due dates required for your federal estimated

Complete columns B through D, lines 7 through 18. For a short

tax payments.

period return, complete the appropriate number of columns.

Line 8.

Line 8. Multiply the amount on line 6 by 25%. This is the

Line 19.

Line 19. Add the amounts shown on line 18, columns A through

required installment for each quarter. If income is annualized,

D. Enter the total here and on Form 41 or Form 41S.

enter the amounts from line 28.

P P P P P AR

ART III.

T III.

T III. ANNU

ANNU

ANNUALIZED INCOME INST

ALIZED INCOME INST

ALIZED INCOME INSTALLMENT METHOD

ALLMENT METHOD

ALLMENT METHOD. . . . .

Complete lines 9 through 14 for one column before completing

If your estimated payments are based on annualized income for

the next column.

federal purposes, you may use that same method to make Idaho

estimated payments. Use the worksheet for federal Form 2220

Line 9.

Line 9. Enter the estimated payments made during the payment

to compute the federal annualized income.

period. For column A only, include the amount credited to 1998

payments from your 1997 return and estimated payments made

Line 20.

Line 20. If you are a 100% Idaho corporation, enter your federal

by the 15th day of the 4th month of the tax year. In column B,

annualized income adjusted for Idaho additions and subtractions

enter payments made after the 15th day of the 4th month through

for each period. If the corporation is multistate, multiply the

the 15th day of the 6th month of the tax year. In column C,

federal annualized income, adjusted for Idaho additions and sub-

enter payments made after the 15th day of the 6th month through

tractions, by the apportionment factor and enter the results.

the 15th day of the 9th month of the tax year. In column D,

Line 25.

enter payments made after the 15th day of the 9th month through

Line 25.

Line 25. Idaho law requires that quarterly estimated payments

the 15th day of the 12th month of the tax year.

be at least 90% of the tax due on the return.

Instructions For Idaho Form 41esr - State Tax Commission

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