Form Dr 0112ep - Corporate Estimated Tax Payment Voucher - 2015
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1
2Corporate Estimated Income Tax
Instructions
This notification shall be mailed to:
See publication FYI Income 51 for more information,
available at
Colorado Department of Revenue
Income Tax Section, Room 238
General Rule
Denver CO 80261-0008
In most cases, a corporation is required to pay estimated
tax if it can reasonably expect the net tax liability will
Remit payments according to the due date table
exceed $5,000 for 2015. For taxpayers with a short taxable
provided (adjust for fiscal year taxpayers). It is strongly
year, estimated tax payments must be remitted if the tax
recommended that these payments be submitted
is expected to exceed $5,000 plus estimated credits.
electronically to avoid problems and delays. See the box
Or, if a short taxable year is the result of a change in the
below for details. The single form can be copied and used
accounting period, then income for the short period must
for each of the four quarterly payments if an electronic
be multiplied in a manner so that income is estimated at a
payment cannot be made for any reason.
full 12-month year. In this case, estimated tax would be due
Penalties
if the net tax liability on the calculated full-year is expected
to exceed $5,000.
Failure to timely remit estimated tax as necessary will result
in a Estimated Tax Penalty. Penalty will be calculated for
Required Payments
each missed or late payment. For calculation specifics,
The required annual amount to be paid is the smaller of:
or to remit this penalty before being billed, see Form 205,
a. 70% of the actual net Colorado tax liability.
Underpayment of Corporate Estimated Tax.
b. 100% of the preceding year’s net Colorado tax liability.
This rule only applies if the preceding year was a
Go Green with Revenue Online
12-month tax year, the corporation filed a Colorado
return, and the corporation is not defined as a large
Taxpayers can use to
pay online. Online payments reduce errors and provide
corporation* under section 6655 of the federal Internal
instant payment confirmation. Revenue Online also allows
Revenue Code.
users to file taxes, remit payments and to monitor their tax
*Any large corporation may base their first quarter estimated
accounts. The paper Form 0112EP or an online return is not
tax payment on 25% of the tax liability from the previous
required if an online payment is made. Please be advised
year. However, the remaining payments must be based on
that a nominal processing fee may apply to online payments.
the actual tax liability for the current year. If, after calculating
the tax liability for the current year, it is determined that
Pay by Electronic Funds Transfer (EFT)
the first quarter was underestimated the shortage shall be
The EFT payment option is a free service. EFT payments
calculated into and paid with the second quarter.
can be made safely, and can be scheduled up to 12 months
ahead of time to avoid forgetting to make a quarterly payment.
Calculating the Payment
EFT services require pre-registration before payments can
Use the provided Worksheet to calculate the amount of
be made. Visit
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
Additional information, FYI publications and forms are
annual income tax return, Form 112. If, for any reason, the
available at or you may call
account numbers are inconsistent, the department must be
303-238-SERV (7378) for assistance.
notified in writing prior to filing Form 112.
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