The Colorado 1Dr 0112Ep form is the official Corporate Estimated Tax Payment Voucher used by corporations in Colorado to report and remit their estimated tax liabilities. This form is essential for businesses that expect their net tax liability to exceed $5,000 for the tax year. Proper completion and timely submission of this form help ensure compliance with state tax regulations.
The Colorado 1Dr 0112Ep form is a crucial document for corporations operating in Colorado, specifically designed for estimating corporate income tax obligations. This form helps businesses calculate their estimated tax liabilities for the 2014 tax year, applying a corporate tax rate of 4.63%. Corporations must consider not only their estimated income tax but also any recapture of prior year credits. The form outlines a straightforward process for determining the total tax liability, including the necessary calculations to arrive at the net estimated tax due. Corporations are required to submit estimated payments in four installments throughout the year, with specific due dates set for April 15, June 15, September 15, and December 15. If a corporation expects its net tax liability to exceed $5,000, it must make these payments. The form also provides guidance on payment methods, encouraging electronic submissions to streamline the process and minimize errors. Failure to submit timely payments can result in penalties, making adherence to the outlined instructions essential for compliance. This form not only serves as a payment voucher but also as a reminder of the responsibilities corporations have regarding their tax obligations in Colorado.
DR 0112EP (11/14/13)
COLORADO DEPARTMENT OF REVENUE
Denver CO 80261-0008
www.TaxColorado.com
2014
Colorado Estimated Tax - Corporate
Worksheet
1.
Estimated 2014 Colorado income tax—Corporate tax rate is 4.63%
00
2.
Recapture of prior year credits
3.
Total of lines 1 and 2
4.
Estimated 2014 Form 112CR credits
5.
Colorado tax liability, line 3 minus line 4
6.
Net estimated tax liability, line 5 times 70%
Payment Number
Net amount Due
2013 Overpayment Applied
Payment Due
Due Dates
1
$
April 15
2
June 15
3
September 15
4
December 15
Round your payment to the nearest dollar. If paying by check, the amount on the check and the amount entered on the payment voucher must be the same. This will help maintain accuracy in your tax account. It is strongly recommended that estimated payments be submitted online at www.Colorado.gov/RevenueOnline or by EFT at www.Colorado.gov/revenue/eft to avoid problems or delays with the 2014 income tax return.
Due Dates: If the due date falls on a weekend or federal holiday, payment will be due the next business day.
DETACH FORM
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(0022)
DR112EP (09/25/13)
2014 Corporate
Estimated Tax Payment Voucher
Return this voucher with check or money order payable to the Colorado Department of Revenue, Denver, Colorado 80261-0008. Write your Colorado Account Number or FEIN and “2014 Form 0112EP” on your check or money order. Do not send cash. Enclose, but do not staple or attach, your payment with this voucher. File only if you are making a payment of estimated tax.
*140112EP19999*
Beginning (MM/DD/2014)
Ending (MM/DD/YYYY)
For the Calendar year 2014 or the iscal year:
Corporation Name
Colorado Account Number
Address
FEIN
City
State
Zip
Due Date (MM/DD/YY)
If No Payment Is Due, Do Not File This Form.
The State may convert your check to a one time electronic banking transaction. Your bank account may be debited as early as the same
Amount of Payment
day received by the State. If converted, your check will not be returned. If your check is rejected due to insuficient or uncollected funds,
the Department of Revenue may collect the payment amount directly from your bank account electronically.
(Do not write in space below)
.00
Corporate Estimated Income Tax
Instructions
See publication FYI Income 51 for more information, available at www.TaxColorado.com
General Rule
In most cases, a corporation is required to pay estimated tax if it can reasonably expect the net tax liability will exceed $5,000 for 2014. For taxpayers with a short taxable year, estimated tax payments must be remitted if the tax is expected to exceed $5,000 plus estimated credits.
Or, if a short taxable year is the result of a change in the accounting period, then income for the short period must be multiplied in a manner so that income is estimated at a full 12-month year. In this case, estimated tax would be due if the net tax liability on the calculated full-year is expected to exceed $5,000.
Required Payments
The required annual amount to be paid is the smaller of:
a. 70% of the actual net Colorado tax liability.
b.100% of the preceding year’s net Colorado tax liability.
This rule only applies if the preceding year was a
12-month tax year, the corporation iled a Colorado return, and the corporation is not deined as a large corporation* under section 6655 of the federal Internal Revenue Code.
*Any large corporation may base their irst quarter estimated tax payment on 25% of the tax liability from the previous year. However, the remaining payments must be based on the actual tax liability for the current year. If, after calculating the tax liability for the current year, it is determined that
the irst quarter was underestimated the shortage shall be calculated into and paid with the second quarter.
Calculating the Payment
Use the provided Worksheet to calculate the amount of 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 annual income tax return, Form 112. If, for any reason, the
account numbers are inconsistent, the department must be notiied in writing prior to iling Form 112.
This notiication shall be mailed to:
Colorado Department of Revenue
Income Tax Section, Room 238
Remit payments according to the due date table provided (adjust for iscal year taxpayers). It is strongly
recommended that these payments be submitted electronically to avoid problems and delays. See the box below for details. The single form can be copied and used for each of the four quarterly payments if an electronic payment cannot be made for any reason.
Penalties
Failure to timely remit estimated tax as necessary will result
in a Estimated Tax Penalty. Penalty will be calculated for each missed or late payment. For calculation speciics,
or to remit this penalty before being billed, see Form 205, Underpayment of Corporate Estimated Tax.
Go Green with Revenue Online
Taxpayers can use www.Colorado.gov/RevenueOnline to
pay online. Online payments reduce errors and provide instant payment conirmation. Revenue Online also allows users to ile taxes, remit payments and to monitor their tax
accounts. The paper Form 0112EP or an online return is not required if an online payment is made. Please be advised that a nominal processing fee may apply to online payments.
Pay by Electronic Funds Transfer (EFT)
The EFT payment option is a free service. EFT payments can be made safely, and can be scheduled up to 12 months ahead of time to avoid forgetting to make a quarterly payment. EFT services require pre-registration before payments can be made. Visit www.Colorado.gov/revenue/eft
Additional information, FYI publications and forms are available at www.TaxColorado.com or you may call 303-238-SERV (7378) for assistance.
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