Fillable *DO=NOT=SEND* Tax Year Ending Computation of Penalty Due (Colorado DORA)

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*DO=NOT=SEND* Tax Year Ending Computation of Penalty Due (Colorado DORA)

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Part 1: Generally you are subject to an estimated tax
penalty if your current year 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 $5,000.
Part 2: The required annual amount to be paid is the lesser of:
1. 70% of actual net Colorado tax liability, or
2. 100% of preceding year's Colorado tax liability only
applies if:
• The preceding year was 12-month tax year, and
• The corporation led a Colorado return, and
• The corporation is not dened under section 6655 of the
federal IRS code as a large corporation.*
*Large corporations can base their rst quarter estimated
tax payment on 25% of the previous year's tax liability.
However, future payments must be based on the actual
tax liability for the current tax year and any underpayment
occurring in the rst quarter as a result of this estimation
must be paid with the second quarterly payment.
Part 3: Compute the penalty on lines 10 through 22 of
DR 0205. Complete each column before going to the
next column. The dates to be entered on line 10 are the
15th day of the fourth, sixth, ninth and twelfth month of
the taxable year. Large corporations must complete line
11 based on the computations from line 9 or, if calculating
estimated payments using the annualized installment
method, line 29.
Corporations ling for a short tax year must adjust lines 9,
10 and 11 accordingly. For more information about ling
for short tax years, see the Corporate Income Tax Guide,
available at Tax.Colorado.gov.
Part 4: Taxpayers who do not receive income evenly
during the year may elect to use the annualized income
installment method to compute their estimated tax payments
if they elected annualized installments or adjusted seasonal
installments for the payment of their federal income tax.
Complete the annualized installment method schedule to
compute the amounts to enter on line 11.
This form should be included with your completed DR 0112 form.
Visit Tax.Colorado.gov for additional information regarding the estimated tax penalty.
Tax Year Ending Computation of Penalty Due Based on
Underpayment of Colorado Corporate Estimated Tax
Instructions
*DO=NOT=SEND*
DR 0205 (11/05/20)
COLORADO DEPARTMENT OF REVENUE
Tax.Colorado.gov
Corporation Name Colorado Account Number
Part 1 — Exception
1. Enter the current year tax liability including any credit recapture after reduction for all
credits other than estimated tax and withholding tax payments $
2. Statutory exemption $ 5,000.00
3. Subtract line 2 from line 1. If line 2 is larger, enter zero and no penalty is due. $
Part 2 — Required Annual Payment
4. Enter the current year tax liability (including any credit recapture) after reduction for all
credits other than estimated tax and withholding tax payments $
5. Enter 70% of the amount on line 4 $
6. Enter the previous year Colorado tax liability (including any credit recapture) after
reduction for all credits other than estimated tax and withholding tax payments. If
you did not le a previous year Colorado return, enter the amount from line 5 here
and on line 7 $
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?
Yes No If yes, go to line 9. If no, skip to line 10.
9. (a) Enter 25% of line 5 $
(b) Enter 25% of line 6 $
(c) Subtract line 9(b) from line 9(a). If line 9(b) is larger, enter 0 on this line.
1. Enter the smaller of lines 9(a) or 9(b) on line 11 in column 1
2. Enter the total of lines 9(a) and 9(c) on line 11 in column 2
3. Enter the amount from line 9(a) on line 11 in columns 3 and 4 $
2020 Tax Year Ending Computation of Penalty Due Based on
Underpayment of Colorado Corporate Estimated Tax
DR 0205 (11/05/20)
COLORADO DEPARTMENT OF REVENUE
Tax.Colorado.gov
Page 1 of 2
*200205==19999*
Corporation Name Colorado Account Number
Part 3 — Penalty Computation
Column 1 Column 2 Column 3 Column 4
10. Enter each quarterly payment due date in
each column to the right on this line
11. Divide the amount on line 7 by four or enter
the payments due from line 9 or 29
$ $ $ $
12. Amounts paid in estimated or withholding tax
$ $ $ $
13. Overpayment (on line 15) from preceding
period
$ $ $
14. Total of lines 12 and 13
$ $ $ $
15. Underpayment (subtract line 14 from line 11) or
<overpayment> (Subtract line 11 from line 14)
$ $ $ $
16. Date of payment or December 31, current
year, whichever is earlier
17. Number of days from due date of payment
to date on line 16
18. Underpayment on line 15 multiplied by 9%
for dates in 2020 or multiplied by 6% for
dates in 2021 multiplied by number of days
on line 17 divided by 365
$ $ $ $
19. Date of payment or due date of return,
whichever is earlier
20. Number of days from December 31 or due
date of payment, whichever is later, to date
on line 19
21. Underpayment on line 15 multiplied by 9%
for dates in 2020 or multiplied by 6% for
dates in 2021 multiplied by number of days
on line 20 divided by 365
$ $ $ $
22. Total penalty. Add all amounts on lines 18 and 21. Include this amount as estimated tax penalty
on line 37, DR 0112
$
Part 4 — Annualized Installment Method Schedule
23. Ending date of annualization period
24. Colorado taxable income computed through
the date on line 23
$ $ $ $
25. Annualization Factor
4 2.4 1.5 1.091
26. Annualized taxable income.
Line 24 multiplied by line 25
$ $ $ $
27. Annualized Colorado tax.
Line 26 multiplied by 4.55%
$ $ $ $
28. Applicable percentage
17.5% 35% 52.5% 70%
29. Installment payment due. Line 27 multiplied by
line 28, subtract amounts entered on line 29 in
earlier quarters. Enter here and on line 11
$ $ $ $
DR 0205 (11/05/20)
COLORADO DEPARTMENT OF REVENUE
Tax.Colorado.gov
Page 2 of 2
*200205==29999*
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*DO=NOT=SEND* Tax Year Ending Computation of Penalty Due (Colorado DORA)

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Completed 18 April 2022

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