Form Dr 0206 - Computation Of Penalty Due Based On Underpayment Of Colorado Severance Estimated Tax Page 2

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Part 4 Annualized Installment
Method Schedule
23. Ending date of annualization period ..............
24. Colorado taxable income computed
$
$
$
$
$
$
$
$
$
$
$
$
through the date on line 23 ............................
12
6
4
3
2.4
2
1.72
1.5
1.33
1.2
1.09
1
25. Annualization Factor ......................................
26. Annualized taxable income. Line 24
$
$
$
$
$
$
$
$
$
$
$
$
times line 25 ..................................................
$
$
$
$
$
$
$
$
$
$
$
$
27. Line 26 times 4.63% .......................................
5.833% 11.667%
17.5%
23.333% 29.167%
35%
40.833% 46.667%
52.5%
58.333% 64.167%
70%
28. Applicable percentage ...................................
29. Installment payment due. Line 27 times line
28, minus amounts entered on line 29 in
$
$
$
$
$
$
$
$
$
$
$
$
earlier quarters. Enter here and on line 11 ...
Instructions for DR 206
Part 1 Generally you are subject to an estimated tax penalty if your current tax
based on the actual tax liability for the current tax year and any underpayment
occurring in the first month as a result of this estimation must be repaid with
year's estimated tax payments are not paid in a timely manner. The estimated
tax penalty will not be assessed if the Colorado tax liability is less than
the second monthly payment.
$5,000.
Part 3 Compute the penalty on lines 10 through 22 of Form 206. Complete
Part 2 The required annual amount to be paid is the lesser of:
each column before going to the next column. The dates to be entered on line
10 are the 15th day of the each month of the taxable year. Corporations filing for
1. 70% of actual Colorado tax liability, or
a short tax year must adjust lines 9, 10 and 11 accordingly. Large corporations
2. 100% of preceding year's Colorado tax liability:
must complete line 11 based on the computations from line 9 or 29.
only applies if
Part 4 Taxpayers who do not receive income evenly during the year may elect
• The preceding year was 12-month tax year, and
to use the annualized income installment method to compute their estimated
• The corporation filed a Colorado return, and
tax payments. Complete the annualized installment method schedule to
• The corporation is not defined under section 6655 of the federal IRS
compute the amounts to enter on line 11.
code as a large corporation*
For additional information regarding the estimated tax penalty see FYI Income
*Large corporations can base their first monthly estimated tax payment on
51, which is available at
8.33% of the previous year's tax liability. However, future payments must be

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