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Idaho Free Printable  for 2019 Idaho Worksheet for Determining Estimated Payment Amount

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Worksheet for Determining Estimated Payment Amount
FORM 41EST

Instructions for Idaho Form 41EST EIN00035 09-11-15 WHO MUST MAKE ESTIMATED TAX PAYMENTS A corporation must make estimated tax payments to the Tax Commission if it’s required to make estimated tax payments to the Internal Revenue Service and owes an Idaho income tax of $500 or more. Estimated tax payments aren’t required if the corporation wasn’t required to file an Idaho return the previous tax year. If you received personalized payment vouchers (Form 41EST), use the appropriate voucher for each filing period. If any of the preprinted information is incorrect, draw a line through it and enter the correct information. Check the box on the voucher if there’s a change in your mailing address. If you don’t have a preprinted form, use the Form 41ES. You can find it on our website at tax.idaho.gov. ESTIMATED TAX PAYMENTS Each estimated tax payment must be 25% of the lesser of the tax required to be reported on the corporation’s return for the prior year, or 90% of the income tax required to be paid on the current year’s return. Don’t include fuels tax, sales/use tax, fuels tax refunds, tax from the recapture of qualified investment exemption(QIE), or Reimbursement Incentive Act credit reported on the income tax returns. For corporations, the tax required to be reported is defined as Idaho taxable income multiplied by the appropriate tax rate, plus the permanent building fund tax, plus tax from recapture of business income tax credits, minus allowable income tax credits. A corporation making estimated tax payments in a year following the revocation of subchapter S status will use $20 as the tax amount required to be reported on the prior year’s return. For S corporations, estimated tax payments are computed on the Idaho tax due to net recognized built-in gains and excess net passive income. Estimated tax payments aren’t required on the tax due on income being reported for individual shareholders. COMPUTATION OF ESTIMATED TAX PAYMENTS The Form 41EST worksheet allows you to compare the income tax on last year’s return with the anticipated income tax for the current year. Use the smaller of the two amounts to determine the estimated tax payment for each period. If your estimated tax payments are based on 90% of the income tax required to be paid on the current year’s return and the anticipated income tax for the current year is revised, use the revised amount to recompute any remaining estimated tax payments. DUE DATES For calendar year taxpayers, estimated tax payments are due by the 15th day of April, June, September, and December. For fiscal year taxpayers, estimated tax payments are due by the 15th day of the 4th, 6th, 9th, and 12th months of the tax year. The due dates for the federal and Idaho estimated tax payments are the same. If the due date is on a Saturday, Sunday, or legal holiday, the payment is due on the next regular business day. UNDERPAYMENT OF ESTIMATED TAX Interest is due on the difference between the amount of estimated tax payment required to be made on each voucher and the amount of estimated tax payment actually made. Interest is computed from the due date of the estimated payment until the required amount is paid or until the due date of the return. The interest rate for 2015 is 4%. The interest rate for 2016 is 4%. Use Form 41ESR to determine the amount of any underpayments of tax and interest due when you file your return. OVERPAYMENT OF ESTIMATED TAX Excess estimated tax payments will be refunded after you file the completed return. You may apply all or part of the excess to next year’s estimated tax by designating the amount on the Idaho Corporation Income Tax Return, Form 41, or the Idaho S Corporation Income Tax Return, Form 41S. Overpayments will be applied to any prior year tax liabilities before carryovers or refunds are allowed. You will be notified if your overpayment is applied to an existing liability, or is used to reduce your refund or carryover. ANNUALIZED INCOME AND ESTIMATED TAX PAYMENTS If your estimated payments are based on annualized income for federal purposes, you may use that same method for making Idaho estimated tax payments. The estimated tax due for the installment period is calculated by multiplying the applicable percentage (22.5%, 45%, 67.5%, and 90% for the 1st, 2nd, 3rd, and 4th installments, respectively) by the full year’s tax on the annualized income for the period and deducting any prior installments. SHORT TAX YEAR If the short tax year ends before any remaining due dates, you must make a final estimated tax payment by the 15th day of the last month of the short tax year. No estimated tax payment is required if the short tax year is less than four months or if the requirements to make an estimated tax payment are not met before the first day of the last month in the short tax year. Use the worksheet below to determine your corporate estimated tax payments. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Anticipated Idaho taxable income this year............................................................................................................... 1. Income tax on anticipated Idaho taxable income. Multiply line 1 by 7.4%................................................................ 2. Permanent building fund tax ($10 or, if a combined report, multiply $10 by the number of corporations required to file for income tax purposes)................................................................................................................... 3. Tax from recapture of business income tax credits. See Form 44, Part II, for a complete list.................................. 4. Total income tax. Add lines 2 through 4.................................................................................................................... 5. Anticipated income tax credits................................................................................................................................... 6. Estimated income taxes payable on this year’s return. Line 5 minus line 6............................................................. 7. If the amount is less than $500, stop here. You aren’t required to make estimated tax payments. Multiply line 7 by 90%................................................................................................................................................ 8. Idaho total tax less the total of any fuels tax, sales/use tax, tax from recapture of QIE, and Reimbursement Incentive Act credit from the 2014 tax return............................................................................................................. 9. Estimated tax payments. Multiply the smaller of lines 8 or 9 by 25%. This is the amount of each estimated tax payment. Enter this amount in the “Payment Due” box of your Form 41EST.................................... 10. __________________ __________________ __________________ __________________ __________________ __________________ __________________ __________________ __________________ __________________
Extracted from PDF file 2016-idaho-form-41est.pdf, last modified October 2015

More about the Idaho FORM 41EST Corporate Income Tax Voucher

We last updated the Worksheet for Determining Estimated Payment Amount in February 2018, and the latest form we have available is for tax year 2016. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Idaho State Tax Commission. You can print other Idaho tax forms here.

Other Idaho Corporate Income Tax Forms:

TaxFormFinder has an additional 65 Idaho income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
FORM 75 Fuels Use Report
FORM 41 Idaho Corporation Income Tax Return
FORM 41ES Quarterly Estimated Tax/Extension of Time Payment
FORM 65 Idaho Partnership Return of Income
FORM 49 Idaho Investment Tax Credit

Download all ID tax forms View all 66 Idaho Income Tax Forms


Form Sources:

Idaho usually releases forms for the current tax year between January and April. We last updated Idaho FORM 41EST from the State Tax Commission in February 2018.

Show Sources >

FORM 41EST is an Idaho Corporate Income Tax form. Payment vouchers are provided to accompany checks mailed to pay off tax liabilities, and are used by the revenue department to record the purpose of the check and the SSN/EIN of the taxpayer who sent it. Many states recommend that taxpayers also write their social security number and the purpose of the payment on the check itself, in case the accompanying payment voucher is misplaced or destroyed.

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 Idaho FORM 41EST

We have a total of six past-year versions of FORM 41EST in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:



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While we do our best to keep our list of Idaho 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.

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