Form 41esr - Underpayment Of Estimated Tax - 2013 Page 2
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2EFO00027
Instructions for Idaho Form 41ESR
08-29-13
A corporation must make estimated tax payments to the Tax
column C, enter payments made after the 15th day of the 6th
Commission if it is required to make estimated tax payments
month through the 15th day of the 9th month of the tax year. In
to the Internal Revenue Service and will have an Idaho income
column D, enter payments made after the 15th day of the 9th
tax liability of $500 or more. Estimated tax payments are not
month through the 15th day of the 12th month of the tax year.
required if the corporation was not required to file an Idaho return
the previous tax year.
Line 10. Enter any overpayment shown on line 14 of the
previous column.
Each estimated tax payment must be 25% of the lesser of
the corporation’s income tax for the prior tax year or 90% of
Line 11. If you had any underpayment in the previous column,
its income tax for the current tax year. Use Form 41ESR to
enter the amount of this period’s payment that will be applied to
determine whether the corporation underpaid its estimated tax
the underpayment. Don’t enter more than the amount on line 9.
and to compute the interest on any underpaid amount. Additional
copies of this form may be needed in cases where multiple
Line 13. If your payments on line 12 are less than the
payments are made and applied to the underpayment of a prior
payments due on line 8, subtract line 12 from line 8 and enter
period.
your underpayment here. If line 13 shows an underpayment,
complete Part II to compute the interest.
PART I. UNDERPAYMENT COMPUTATION
Complete Part I to determine if you have an underpayment for
Line 14. If your payments on line 12 are more than the
any of the payment periods.
payments due on line 8, subtract line 8 from line 12 and enter
your overpayment.
Line 1. Enter the total tax amount reported on the 2013 return.
For Form 41, this is the amount on line 49. For Form 41S, this is
PART II. UNDERPAYMENT INTEREST COMPUTATION
the amount on line 55.
If you computed an underpayment on line 13 of Part I, complete
lines 15 through 24 to determine the amount of the interest due
Line 2. Enter the total of the fuels tax, sales/use tax, tax from
on the underpayment.
recapture of qualified investment exemption (QIE), and the Hire
One Act credit claimed on the corporate return. For Form 41, this
Line 15. Enter the date you made a payment that was applied
to the underpayment amount shown on line 13, or enter the
is the total of lines 46 through 48 and line 55. For Form 41S, this
is the total of lines 52 through 54 and line 61.
15th day of the 4th month following the close of the tax year,
whichever is earlier.
Line 5. Enter the total tax amount less the total of the fuels
tax, sales/use tax, tax from recapture of QIE, and the Hire One
Line 16. Enter the number of days from the due date of the
installment shown on line 7 to the date shown on line 15.
Act credit reported on the 2012 return. For Form 41, this is the
amount on line 49 minus the total of lines 46 through 48. For
Form 41S, this is the amount on line 55 minus the total of lines
Line 19. Divide the number of days shown on line 17 by 365.
Multiply the results by 3%, the interest rate for 2013. Compute
52 through 54.
the percentage to two places to the right of the decimal point
Line 6. Enter the smaller of lines 4 or 5. If you used annualized
(00.00%).
income to determine your estimated tax payments, use Part III to
show the annualized computation.
Line 20. Divide the number of days shown on line 18 by 365.
Multiply the results by 4%, the interest rate for 2014. Compute
Line 7. Enter the installment dates for your estimated tax
the percentage to two places to the right of the decimal point
payments. The installment due dates for Idaho’s estimated tax
(00.00%).
payments will be the same due dates required for your federal
estimated tax payments.
Complete columns B through D, lines 7 through 23. For a short
period return, complete the appropriate number of columns.
Line 8. Multiply the amount on line 6 by 25%. This is the
required installment for each quarter. If income is annualized,
Line 24. Add the amounts shown on line 23, columns A through
D. Enter the total here and on Form 41 or Form 41S.
enter the amounts from line 33.
Complete lines 9 through 14 for one column before completing
PART III. ANNUALIZED INCOME INSTALLMENT METHOD
If your estimated tax payments are based on annualized income
the next column.
for federal purposes, you may use that same method to make
Line 9. Enter the estimated tax payments made during the
Idaho estimated tax payments. Use Schedule A, Part II of the
payment period. For column A only, include the amount credited
federal Form 2220 to compute the federal annualized income.
to 2013 estimated tax from your 2012 return and estimated tax
payments made by the 15th day of the 4th month of the tax year.
Line 25. For a 100% Idaho corporation, enter its federal
annualized income adjusted for Idaho additions and subtrac-
In column B, enter payments made after the 15th day of the 4th
month through the 15th day of the 6th month of the tax year. In
tions for each period. If the corporation is multistate, multiply
the federal annualized income, adjusted for Idaho additions and
subtractions, by the apportionment factor and enter the results.
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