Colorado Colorado Composite Nonresident Estimated Tax Payment Form
Extracted from PDF file 2022-colorado-form-106ep.pdf, last modified June 2020
Colorado Composite Nonresident Estimated Tax Payment Form*DO=NOT=SEND* DR 0106EP (06/07/21) COLORADO DEPARTMENT OF REVENUE Denver CO 80261-0008 Tax.Colorado.gov Composite Nonresident Return Estimated Income Tax Instructions Estimated tax is the method used to pay tax on income that is not subject to withholding. Individuals who are not residents of Colorado (nonresidents) must pay tax on any Colorado-source income. This is intended for nonresident individuals who are included in a form 106 composite filing. See publication FYI Income 54 for more information, available at Tax.Colorado.gov Mail this notification to: Colorado Department of Revenue Denver, CO 80261-0008 General Rule Penalties In most cases, you will pay estimated tax if an individual partner expects to owe more than $1,000 in net tax for 2022, after subtracting any withholding or refundable credits they might have. This rule must be calculated for each individual included in the composite return, and not as the composite as a whole. Required Payments The required annual amount to be paid by each individual included in the composite (if not exempted by the general rule) is the smaller of: • 70% of the actual net Colorado tax liability*, or • 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 individual filed a Colorado return, and the federal adjusted gross income on that return was $150,000 or less (or, if married filing separately, $75,000 or less), or • 110% of the preceding year’s net Colorado tax liability. This amount only applies if the preceding year was a 12-month year, and the individual filed a Colorado return. *The net Colorado tax liability is defined as the sum of Colorado tax, alternative minimum tax, and the recapture of prior year credits, minus the sum of all credits other than wage withholding and nonresident real estate withholding, but not nonresident partner or shareholder withholding and/ or estimated tax credits. Calculating the Payment Estimated tax payments can be made on a quarterly basis. Payments and forms should be submitted using the same account number as will be used on the Colorado Partnership and S Corporation and Composite Nonresident Income Tax Return (DR 0106). If, for any reason, the account numbers are inconsistent, the Department must be notified in writing prior to filing the DR 0106. It is strongly recommended that these payments be remitted electronically to avoid problems and delays. 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. Failure to timely remit estimated tax as necessary will result in an estimated tax penalty. Otherwise, penalty will be calculated for each missed, late, or underpaid payment. For calculation specifics, or to remit this penalty before being billed, see form DR 0204, Underpayment of Individual Estimated Tax. Refunds Estimated tax payments can only be claimed as prepayment credit on the 2022 Colorado income tax return. Therefore, estimated payments cannot be refunded in any manner until such time that the Colorado income tax return is filed. Go Green with Revenue Online Colorado.gov/RevenueOnline allows taxpayers to file taxes, remit payments and monitor their tax accounts. DR 0106EP is not required to be sent if electronic payment is remitted through this site. Please be advised that a nominal processing fee may apply to electronic payments. Pay by Electronic Funds Transfer (EFT) E FT payments can be made safel y, for free, and can be schedul ed up to 12 months ahead of t im e t o avoid forgetti ng to make a quarterl y payment. This r equir es pre-registration before payments can be made. Vi si t Tax.C ol orado.gov/el ectroni c-funds-t r ansf er f or regi strati on i nformati on. Additional information, guidance Publications and forms are available at Tax.Colorado.gov, or you can call 303-238-SERV (7378) for assistance. (0042) DR 0106EP (06/07/21) COLORADO DEPARTMENT OF REVENUE Denver CO 80261-0008 Tax.Colorado.gov Page 1 of 1 *220106EP19999* 2022 Colorado Composite Nonresident Estimated Tax Payment Form Only return this payment form with a check or money order. DO NOT CUT – Return Full Page DR 0106EP (06/07/21) For the calendar year 2022 or the fiscal year: Beginning (MM/DD/YY) Ending (MM/DD/YY) Return the DR 0106EP with check or money order payable to the “Colorado Department of Revenue”. Mail payments to Colorado Department of Revenue, Denver, Colorado 80261-0008. These addresses and zip codes are exclusive to the Colorado Department of Revenue, so a street address is not required. Write your Colorado Account Number or FEIN and “2022 DR 0106EP” on your check or money order. Do not send cash. Enclose, but do not staple or attach, your payment with this form. File only if you are making a payment of estimated tax. FEIN Colorado Account Number Organization Name Address City State ZIP Due Date (MM/DD/YY) Amount of Payment 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 amount directly from your bank account electronically. DO NOT CUT – Return Full Page IF NO PAYMENT IS DUE, DO NOT FILE THIS FORM $
More about the Colorado Form 106EP Corporate Income Tax Estimated TY 2022
Estimated tax is the method used to pay tax on income that is not subject to withholding. Individuals who are not residents of Colorado (nonresidents) must pay tax on any Colorado-source income. This is intended for nonresident individuals who are included in a form 106 composite filing. See publications FYI Income 51 and Income 54 for more information, available at Colorado.gov/Tax.
We last updated the Colorado Composite Nonresident Estimated Tax Payment Form in January 2022, so this is the latest version of Form 106EP, fully updated for tax year 2022. You can download or print current or past-year PDFs of Form 106EP directly from TaxFormFinder. You can print other Colorado tax forms here.
Other Colorado Corporate Income Tax Forms:
|Form Code||Form Name|
|Form DR 0617||Innovative Motor Vehicle Credit|
|Form DR 0074||Enterprise Zone Pre-Certification for Business|
|Form 106||Partnership / S-Corporation Pass-Through Entities Tax Booklet|
|Form DR 0900P||Payment Voucher - Partnership & Pass-Through|
|Form 106EP||Colorado Composite Nonresident Estimated Tax Payment Form|
Colorado usually releases forms for the current tax year between January and April. We last updated Colorado Form 106EP from the Department of Revenue in January 2022.
Form 106EP is a Colorado Corporate Income Tax form. While most taxpayers have income taxes automatically withheld every pay period by their employer, taxpayers who earn money that is not subject to withholding (such as self employed income, investment returns, etc) are often required to make estimated tax payments on a quarterly basis. Failure to make correct estimated payments can result in interest or penalties.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Colorado Form 106EP
We have a total of eight past-year versions of Form 106EP in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
While we do our best to keep our list of Colorado Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.