Form Dr 0104ep - Colorado Estimated Income Tax Payment Voucher - 2015
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2Individual Estimated Income Tax
Instructions
Estimated tax is the method used to pay tax on income
Calculating the Payment
that is not subject to withholding. Wages typically have
Use the provided Worksheet to calculate the amount
withholding, but earnings from self-employment, interest,
of estimated tax owed. Reference the previous year
dividends, rents, etc. would be subject to estimated tax.
Colorado Income Tax Return form and instructions for help
determining taxable income. Those who file joint returns
You might also pay estimated tax if your withholdings are
not enough to be excluded from the General Rule below. If
must make the payment under the taxpayer name and ID
you file form 1040-ES with the IRS, typically you would pay
number that will be listed first on the income tax return.
estimated tax to the Colorado Department of Revenue. See
Remit payments according to the due date table provided in
publication FYI Income 51 for more information, which is
the worksheet.
available at
Penalties
General Rule
Failure to timely remit estimated tax as necessary will
In most cases, you will pay estimated tax if you expect to
result in an estimated tax penalty. Exceptions will be given
to farmers or fishermen who file and remit full payment
owe more than $1,000 in tax for 2015, after subtracting any
by March 1. Otherwise, penalty will be calculated for
withholding or refundable credits you might have.
each missed or late payment. For calculation specifics,
Required Payments
or to remit this penalty before being billed, see Form 204,
The required annual amount to be paid is the smaller of:
Underpayment of Individual Estimated Tax.
a. 70% of the actual net Colorado tax liability.
Refunds
b. 100% of the preceding year’s net Colorado tax liability.
Estimated tax payments can only be claimed as
This rule only applies if the preceding year was a
prepayment credit on the 2015 Colorado income tax return.
12-month tax year, the individual filed a Colorado
Therefore, estimated payments cannot be refunded in any
return, and the federal adjusted gross income on
manner until such time that the Colorado income tax return
that return was $150,000 or less (or, if married filing
is filed.
separately, $75,000 or less).
c. 110% of the preceding year’s net Colorado tax liability.
Go Green with Revenue Online
allows taxpayers to file taxes,
This amount applies only if the preceding year was
remit payments and monitor their tax accounts. Form 104EP is
a 12-month year, and the individual filed a Colorado
not required if electronic payment is remitted through this site.
return.
Please be advised that a nominal processing fee may apply to
Annualized Installment Method
electronic payments.
Those who do not receive income evenly throughout
Pay by Electronic Funds Transfer
the year may elect to file using this method. Specific
EFT payments can be made safely and for free, and can be
scheduled up to 12 months ahead of time to avoid forgetting to
instructions for the annualized installment method are
available in publication FYI Income 51.
make a quarterly payment. This requires pre-registration before
payments can be made. Visit for
Carryforward of Estimated Overpayment
registration information.
Any overpayment designated for carryforward on your
Colorado income tax return from the previous year must be
Additional information, FYI publications, and forms are
applied to the first estimated tax payment due for this tax
available at or you can call
period.
303-238-SERV (7378) for assistance.
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