The Colorado 1Dr 0112Ep form is a corporate estimated tax payment voucher used by corporations to report and pay their estimated income tax liabilities for the tax year. This form helps ensure compliance with Colorado tax regulations by calculating the estimated tax owed based on projected income and applicable credits. Timely submission of this form is essential to avoid penalties and maintain accurate tax records.
To fill out the form, please click the button below.
The Colorado 1Dr 0112Ep form is essential for corporations to calculate and remit their estimated income tax for the year 2014. This form outlines the corporate tax rate of 4.63%, which is applied to the estimated income tax liability. Corporations must assess their expected tax liability, factoring in any prior year credits that may affect their total tax due. The form includes a worksheet to help businesses determine their net estimated tax liability, which is calculated by subtracting eligible credits from the total income tax liability. Additionally, the 1Dr 0112Ep form specifies four quarterly payment due dates—April 15, June 15, September 15, and December 15—by which estimated payments must be made. To facilitate timely payments, it is recommended that corporations use online payment options or electronic funds transfer (EFT) to avoid potential delays or penalties. The form also emphasizes the importance of accurate payment submissions and provides guidance on how to handle payments if due dates fall on weekends or holidays. Overall, understanding the requirements and deadlines associated with the 1Dr 0112Ep form is crucial for corporations to maintain compliance with Colorado tax laws.
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
ON THIS LINEUse the coupon below only if you are unable to pay online or by EFT.
Cut here and send only the coupon below. Help us save time and your tax dollars.
(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.
Completing the Colorado 1Dr 0112Ep form is an important step for corporations that need to estimate their tax liability for the year. After filling out the form, you will be able to calculate your estimated tax payments and ensure timely submission to avoid penalties. Here’s how to fill out the form step by step.
After completing these steps, ensure that you keep a copy for your records. Timely submission will help you avoid penalties and ensure compliance with Colorado tax regulations.
The Colorado 1Dr 0112Ep form, also known as the Corporate Estimated Tax Payment Voucher, is used by corporations to make estimated tax payments for the tax year. It helps businesses calculate and remit their estimated tax liability to the Colorado Department of Revenue.
Corporations that expect their net tax liability to exceed $5,000 for the tax year are required to file this form. This requirement also applies to corporations with short taxable years under certain conditions.
To calculate the estimated tax, follow these steps:
Estimated tax payments are due on the following dates:
If a due date falls on a weekend or federal holiday, the payment is due the next business day.
Yes, it is strongly recommended to submit estimated payments online through the Colorado Department of Revenue's website. This method helps avoid potential issues or delays with your tax return.
If you are unable to pay online or via Electronic Funds Transfer (EFT), you can use the coupon provided with the form to submit your payment by check or money order. Ensure that your payment matches the amount on the payment voucher.
Failure to timely remit estimated tax payments will result in an Estimated Tax Penalty. This penalty is calculated for each missed or late payment. For more details on penalties, refer to Form 205, Underpayment of Corporate Estimated Tax.
While online payments are encouraged, please be aware that a nominal processing fee may apply when using this payment method.
To use EFT for payments, you must pre-register. Visit the Colorado Department of Revenue's EFT page for more information and to complete the registration process.
Additional information, including FYI publications and forms, is available on the Colorado Department of Revenue's website at www.TaxColorado.com. For assistance, you can also call 303-238-SERV (7378).
Incorrect Calculation of Estimated Tax: Many people fail to accurately calculate their estimated tax liability. It’s important to ensure that all figures are correct, especially when determining the amount due based on the corporate tax rate of 4.63%.
Omitting Required Information: Leaving out essential details, such as the Colorado Account Number or FEIN, can lead to processing delays. Always double-check that all required fields are filled in completely.
Failing to Round Payments: Some individuals forget to round their payment to the nearest dollar. This simple step is crucial for maintaining accuracy in your tax account.
Missing Payment Deadlines: Not paying attention to due dates can result in penalties. If a due date falls on a weekend or holiday, remember that the payment is due the next business day.
Not Submitting Payments Electronically: Many people overlook the benefits of submitting payments online. Electronic payments reduce errors and provide instant confirmation, making the process smoother.
When dealing with the Colorado 1Dr 0112Ep form, several other documents may be necessary to ensure compliance with tax regulations. Each of these forms serves a specific purpose in the corporate tax process. Below is a list of commonly used forms and documents that often accompany the Colorado 1Dr 0112Ep form.
Each of these forms and documents plays a role in ensuring that corporate tax obligations are met accurately and timely. Proper understanding and use of these forms can help streamline the tax filing process for corporations in Colorado.
The Colorado DR 0112EP form shares similarities with the IRS Form 1120, which is the U.S. Corporation Income Tax Return. Both documents serve as essential tools for corporations to report their income, deductions, and tax liability. While the DR 0112EP focuses specifically on estimated tax payments for Colorado, the IRS Form 1120 covers the federal tax obligations. Corporations use these forms to calculate their respective tax liabilities, ensuring compliance with both state and federal tax regulations.
Another document akin to the DR 0112EP is the IRS Form 941, which is the Employer's Quarterly Federal Tax Return. This form is used by employers to report income taxes, Social Security tax, and Medicare tax withheld from employee wages. Like the DR 0112EP, Form 941 involves periodic reporting and payment obligations. However, while the DR 0112EP pertains to corporate estimated tax payments, Form 941 addresses payroll tax responsibilities, highlighting the different facets of corporate tax obligations.
The Colorado DR 0100 form, the Colorado Individual Income Tax Return, is also comparable. Although it is designed for individual taxpayers rather than corporations, both forms require taxpayers to estimate their tax liabilities and make timely payments. The DR 0100 allows individuals to report their income and claim credits, similar to how corporations utilize the DR 0112EP to manage their estimated tax payments. Both forms emphasize the importance of accurate reporting and adherence to deadlines.
Additionally, the IRS Form 1120-W, the Estimated Tax for Corporations, bears a close resemblance to the DR 0112EP. This IRS form enables corporations to calculate their estimated tax payments for the year, similar to the purpose of the Colorado form. Both documents require corporations to assess their expected tax liabilities and make payments accordingly, ensuring that they meet their tax obligations throughout the year.
The Colorado DR 0102 form, the Corporate Income Tax Return, also parallels the DR 0112EP. While the DR 0112EP is focused on estimated payments, the DR 0102 is the final return that corporations file to report their actual income and tax liability for the year. Both forms play crucial roles in the tax compliance process, with the DR 0112EP serving as a precursor to the final reporting done on the DR 0102.
Another related document is the IRS Form 1065, which is used by partnerships to report income, deductions, and other important tax information. Although it pertains to a different type of business entity, the principles of estimating tax liabilities and ensuring timely payments are common to both the DR 0112EP and Form 1065. Each form requires careful calculation to avoid penalties and ensure compliance with tax laws.
Lastly, the Colorado DR 1102 form, the Corporate Extension of Time to File, is similar in that it provides corporations with a way to manage their filing obligations. While it does not directly relate to estimated tax payments, it allows corporations to extend the deadline for filing their tax returns. This form can be important for businesses that may need additional time to accurately assess their tax liabilities, paralleling the proactive nature of the DR 0112EP in managing estimated tax payments.
When filling out the Colorado 1Dr 0112Ep form, following the right practices can make the process smoother. Here are six important dos and don'ts to keep in mind:
Adhering to these guidelines will help maintain accuracy and ensure that your estimated tax payments are processed without issues.
This form is applicable to all corporations that expect their net tax liability to exceed $5,000, not just large corporations. Smaller businesses also need to file if they meet this threshold.
Timely submission is crucial. Failure to remit estimated tax payments on time may result in penalties for each missed or late payment.
If no payment is due, do not file the form. However, if a corporation expects to owe taxes, it is essential to file the form to avoid complications.
The form allows for quarterly payments. Corporations can spread their estimated tax liability over four due dates throughout the year.
Cash payments are not accepted. Payments must be made by check or money order, and it is important to include the correct information on these payments.
Online payments through the Colorado Department of Revenue are secure. They provide instant confirmation and help reduce errors.
Even if filing electronically, it is essential to adhere to the due dates. Payments are still required by the specified deadlines.
If there are inconsistencies in account numbers, the department must be notified in writing before filing the annual return to avoid complications.
When filling out the Colorado 1Dr 0112Ep form, consider the following key takeaways: