Form 205 Fillable Estimated Tax -- Underpayment
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The corporation filed a Colorado return and The corporation is not defined under section The preceding year was 12 month tax year and Yes No If yes go to line 9 If no skip to line 10 (b) Enter 25% of line 6 (c) Line 9(a) minus line 9(b) If line 9(b) is larger enter 0 *130205==19999* *130205==29999* *Large corporations can base their first quarter estimated (line 14 minus line 11) 0205 Complete each column before going to the next 1 091 1 70% of actual net Colorado tax liability or 1 Enter the 2013 tax liability including any credit recapture after reduction for all credits other 10 Enter payment due dates 11 Divide the amount on line 7 by four or 12 Amounts paid in estimated or withholding tax 13 Overpayment (on line 15) from preceding 14 Total of lines 12 and 13 15 Underpayment (line 11 minus line 14) or 16 Date of payment or December 31 2013 17 5% 17 Number of days from due date of payment 18 Underpayment on line 15 multiplied by 6% 19 Date of payment or due date of return 2 100% of preceding year's Colorado tax liability: 2 Statutory exemption 20 Number of days from December 31 2013 21 Underpayment on line 15 multiplied by 6% 22 Total penalty Add all amounts on lines 18 and 21 Include this amount as estimated 23 Ending date of annualization period 24 Colorado taxable income computed 25 Annualization Factor 26 Annualized taxable income 27 Line 26 multiplied by 4 63% 28 Applicable percentage 29 Installment payment due Line 27 multiplied 3 Line 1 minus line 2 If line 2 is larger enter zero and no penalty is due 4 Enter the 2013 tax liability (including any credit recapture) after reduction for all credits other 5 000 00 5 Enter 70% of the amount on line 4 52 5% 6 Enter the 2012 Colorado tax liability (including any credit recapture) after reduction for all credits 6655 of the federal IRS code as a large 7 Required payment Enter the smaller of lines 5 or 6 8 Does the taxpayer qualify as a large corporation under section 6655 of the federal IRS code? 9 (a) Enter 25% of line 5 adjust lines 9 10 and 11 accordingly Large corporations assessed if the Colorado tax liability is less than $5 000 by line 28 minus amounts entered on line 29 Colorado Account Number COLORADO DEPARTMENT OF REVENUE Colorado return enter the amount from line 5 here and on line 7 column The dates to be entered on line 10 are the 15th Complete the annualized installment method schedule to Computation of Penalty Due Based on compute the amounts to enter on line 11 corporation * Corporation Name day of the fourth sixth ninth and twelfth month of the Denver CO 80261 0006 divided by 365 DR 0205 (07/30/13) elected annualized installments or adjusted seasonal Enter the amount from line 9(a) on line 11 in columns 3 and 4 enter the payments due from line 9 or 29 Enter the smaller of lines 9(a) or 9(b) on line 11 in column 1 Enter the total of lines 9(a) and 9(c) on line 11 in column 2 For additional information regarding the estimated tax penalty see FYI Income 51 which is available at However future payments must be based on the actual in a timely manner The estimated tax penalty will not be in earlier quarters Enter here and on line 11 installments for the payment of their federal income tax Instructions for DR 0205 lesser of: Line 24 multiplied by line 25 line 9 or 29 method to compute their estimated tax payments if they multiplied by number of days on line 17 multiplied by number of days on line 20 must be repaid with the second quarterly payment must complete line 11 based on the computations from occurring in the first quarter as a result of this estimation only applies if or due date of payment whichever is later other than estimated tax and withholding tax payments and credits If you did not file a 2012 Part 1 Exception Part 1 Generally you are subject to an estimated tax Part 2 Required Annual Payment Part 2 The required annual amount to be paid is the Part 3 Compute the penalty on lines 10 through 22 of DR Part 3 Penalty Computation Part 4 Annualized Installment Method Schedule Part 4 Taxpayers who do not receive income evenly during penalty if your 2013 estimated tax payments are not paid period tax liability for the current tax year and any underpayment tax payment on 25% of the previous year's tax liability tax penalty on line 29 Form 112 taxable year Corporations filing for a short tax year must than estimated tax and withholding tax payments and credits the year may elect to use the annualized income installment through the date on line 23 to date on line 16 to date on line 19 Underpayment of Colorado Corporate Estimated Tax whichever is earlier www TaxColorado com