The Colorado 112 form is a crucial document used by C corporations to report their income and calculate their tax obligations in the state of Colorado. This form includes several related documents, such as the income tax return and payment forms, which help streamline the filing process. Understanding the Colorado 112 form is essential for ensuring compliance and avoiding potential penalties.
The Colorado 112 form is a critical document for corporations operating within the state, particularly for C corporations. This form serves as the official income tax return for these entities, detailing their financial performance and tax obligations. Included in the 2020 booklet are essential instructions and related forms, such as the DR 0112, which is the primary income tax return, and the DR 0158-C, which provides an extension of time for filing. Corporations must be aware that while they can request an extension to file their returns, the payment due date remains unchanged, necessitating timely tax payments to avoid penalties and interest. The booklet also contains the DR 0900C payment form, which must accompany any payments made by check. Furthermore, corporations are encouraged to utilize online payment options through Revenue Online, which streamlines the process and minimizes errors. The Colorado Department of Revenue has specific mailing addresses for different forms, ensuring that submissions are directed appropriately. Understanding the nuances of the Colorado 112 form and its related documents is essential for compliance and effective tax management.
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DR 0112 (11/19/21)
COLORADO DEPARTMENT OF REVENUE
Tax.Colorado.gov
Page 1 of 4
2021 Colorado C Corporation Income Tax Return
Do not submit federal return, forms or schedules when filing this return.
(0023)
Fiscal Year Beginning (MM/DD/21)
Year Ending (MM/DD/YY)
Name of Corporation
Colorado Account Number
Address
Federal Employer ID Number
City
State ZIP
Mark for Final Return
If you are submitting a statement disclosing a listed or reported
transaction, mark this box
A. Apportionment of Income. This return is being filed for:
(42)A corporation not apportioning income;
A corporation engaged in interstate business
(43)apportioning income using receipts-factor apportionment (DR 0112RF required);
(44)apportioning income using special regulation (DR 0112RF required);
(45)
A corporation electing to pay a tax on its gross
Colorado sales;
A corporation claiming an exemption under
(46)
P.L. 86-272;
Other apportionment method, see instructions
concerning the requirement for approval by the
(47)
Department (fill in below);
B. Separate/Consolidated/Combined Filing. This return is being filed for:
A single corporation filing a separate return;
An affiliated group of corporations electing to file a consolidated
report. Warning: such election is binding for four years. If your election was made in a prior year, enter the year of election in line below. (Schedule C required);
Enter the year of election (YYYY)
An affiliated group of corporations required to file a
combined return (Schedule C required);
An affiliated group of corporations required to file a combined return that includes another affiliated,
consolidated group (Schedule C required);
Federal Taxable Income
Round to nearest dollar
1.
Federal taxable income from Federal form 1120 or 990-T
1
00
2.
Federal taxable income of companies not included in this return
2
3.
Net federal taxable income, subtract line 2 from line 1
3
Additions
4.
Federal net operating loss deduction
4
5.
Colorado income tax deduction
5
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Form 112
Name
Account Number
6. Other additions, submit explanation
6
7. Sum of lines 3 through 6
Subtractions
7
8.
Exempt federal interest
8
9.
Excludable foreign source income
9
10.
Colorado capital gain subtraction
10
11.
Colorado Marijuana Business Deduction
11
12.
Other subtractions, explanation required below
12
Explain:
13.
Subtractions allowed under HB21-1002 (see instructions)
13
14.
Sum of lines 8 through 13
14
Taxable Income
15.
Modified federal taxable income, subtract line 14 from line 7
15
16.
Colorado taxable income before net operating loss deduction
16
17.Colorado net operating loss deduction: (see instructions)
(a)Colorado net operating losses carried forward
from tax years beginning before January 1, 2018
17(a)
(b) Subtract line 17(a) from line 16, if zero skip to 17(d)
17(b)
(c) Colorado net operating losses carried forward from
tax years beginning on or after January 1, 2018
17(c)
(d) Colorado net operating loss deduction, sum of (a) and (c)
17(d)
18.
Colorado taxable income, subtract line 17(d) from line 16
18
19.
Tax, 4.5% of the amount on line 18
19
Credits
20.Sum of nonrefundable credits from line 27, form DR 0112CR (the sum of lines 20, 21,
and 22 cannot exceed tax on line 19.) You must submit the DR 0112CR with your return. 20
21.Non-refundable Enterprise Zone credits used – as calculated, or from the
DR 1366 line 84 (the sum of lines 20, 21, and 22 cannot exceed tax on line 19).
You must submit the DR 1366 with your return.
21
22.Strategic capital tax credit from DR 1330 line 7b, the sum of lines 20, 21, and 22
cannot exceed line 19, you must submit the DR 1330 with your return.
22
23. Net tax, sum of lines 20, 21, and 22. Subtract that sum from line 19.
23
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Page 3 of 4
24.
Recapture of prior year credits
24
25.
Sum of lines 23 and 24
25
26.
Estimated tax, extension payments, and credits
26
27.W-2G Withholding from lottery winnings, you must submit the W-2G(s)
with your return.
27
28.Gross Conservation Easement Credit from the DR 1305G line 33, you must
submit the DR 1305G with your return.
28
29. Innovative Motor Vehicle and Innovative Truck Credit from form DR 0617, you must
submit the DR 0617(s) with your return.
29
30.Business Personal Property Credit: Use the worksheet in the 112 book instructions
to calculate, you must submit copy of assessor’s statement with your return.
30
31.Renewable Energy Tax Credit from form DR 1366 line 85, you must submit the
DR 1366 with your return.
31
32.
Sum of lines 26 through 31
32
33.
Net tax due. Subtract line 32 from line 25
33
34.
Penalty
34
35.
Interest
35
36.
Estimated tax penalty due
36
37.
Total due. Enter the sum of lines 33 through 36
37
38.
Overpayment, subtract line 25 from line 32
38
39.
Amount from line 38 to carry forward to the next year’s estimated tax
39
40.
Amount from line 38 to be refunded
40
Type:
Direct
Routing Number
Checking
Savings
Deposit Account Number
The State may convert your check to a one-time electronic banking transaction. Your bank account may be debited as early as the same day received by the State. If converted, your check
will not be returned. If your check is rejected due to insufficient or uncollected funds, the Department of Revenue may collect the payment directly from your bank account electronically.
File and pay at: Colorado.gov/RevenueOnline or
Mail and Make Checks Payable to: Colorado Department of Revenue
Denver, CO 80261-0006
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Page 4 of 4
C. The corporation’s books are in care of:
Last Name
First Name
Middle Initial Phone Number
D. Business code number per federal return (NAICS)
E. Year corporation began doing business in Colorado
F. Do you want to allow the paid preparer shown below to discuss this return and any related
Yes
No
information with the Colorado Department of Revenue? See the instructions.
G. Kind of business in detail
H. Has the Internal Revenue Service made any adjustments in the corporation’s income or tax
or have you filed amended federal income tax returns at any time during the last four years?
If yes, for which year(s)? (YYYY)
Did you file amended Colorado returns to reflect such changes or submit copies of the Federal Agent’s reports?
Last Name of person or firm preparing return
Middle Initial
Address of person or firm preparing return
Phone Number
Under penalties of perjury in the second degree, I declare that I have examined this return and to the best of my knowledge is true, correct and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Signature or Title of Officer
Date (MM/DD/YY)
Do Not Submit Federal Return, Forms or Schedules when Filing this Return
If you are filing this return with a check or payment,
If you are filing this return without a check or payment,
please mail the return to:
Denver, CO 80261-0005
These addresses and ZIP codes are exclusive to the Colorado Department of Revenue, so a street address is not required.
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