Instructions For Idaho Form 41esr - 2016
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1EFO00027
Instructions for Idaho Form 41ESR
10-24-2016
A corporation must make estimated tax payments to the Idaho
In column C, enter payments made after the 15th day of the 6th
State Tax Commission if it’s required to make estimated tax
month through the 15th day of the 9th month of the tax year. In
payments to the Internal Revenue Service and owes Idaho
column D, enter payments made after the 15th day of the 9th
income tax of $500 or more. Estimated tax payments aren’t
month through the 15th day of the 12th month of the tax year.
required if the corporation wasn’t required to file an Idaho return
the previous tax year.
Line 10. Enter any overpayment shown on line 14 of the
previous column.
Each estimated tax payment must be 25% of the lesser of
the corporation’s income tax for the prior tax year or 90% of
Line 11. If you had any underpayment in the previous column,
its income tax for the current tax year. Use Form 41ESR to
enter the amount of this period’s payment that will be applied to
determine whether the corporation underpaid its estimated tax
the underpayment. Don’t enter more than the amount on line 9.
and to compute the interest on any underpaid amount. Additional
copies of this form may be needed in cases where multiple
Line 13. If your payments on line 12 are less than the
payments are made and applied to the underpayment of a prior
payments due on line 8, subtract line 12 from line 8 and enter
period.
your underpayment here. If line 13 shows an underpayment,
complete Part II to compute the interest.
PART I. UNDERPAYMENT COMPUTATION
Line 14. If your payments on line 12 are more than the
Complete Part I to determine if you have an underpayment for
any of the payment periods.
payments due on line 8, subtract line 8 from line 12 and enter
your overpayment.
Line 1. Enter the total tax amount reported on the 2016 return.
For Form 41, this is the amount on line 49. For Form 41S, this is
PART II. UNDERPAYMENT INTEREST COMPUTATION
If you computed an underpayment on line 13 of Part I, complete
the amount on line 55.
lines 15 through 24 to determine the amount of the interest due
Line 2. Enter the total of the fuels tax, sales/use tax, tax from
on the underpayment.
recapture of qualified investment exemption (QIE), and the
Reimbursement Incentive Act credit claimed on the corporate
Line 15. Enter the date you made a payment that was applied
return. For Form 41, this is the total of lines 46 through 48 and
to the underpayment amount shown on line 13, or enter the
line 55. For Form 41S, this is the total of lines 52 through 54 and
15th day of the 4th month following the close of the tax year,
line 61.
whichever is earlier.
Line 5. Enter the total tax amount less the total of the fuels tax,
Line 16. Enter the number of days from the due date of the
sales/use tax, tax from recapture of QIE, and the Reimbursement
installment shown on line 7 to the date shown on line 15.
Incentive Act credit reported on the 2015 return. For Form 41,
this is the amount on line 49 minus the total of lines 46 through
Line 19. Divide the number of days shown on line 17 by 366.
48 and line 55. For Form 41S, this is the amount on line 55
Multiply the result by 4%, the interest rate for 2016. Compute
minus the total of lines 52 through 54 and line 61.
the percentage to two places to the right of the decimal point
(00.00%).
Line 6. Enter the smaller of lines 4 or 5. If you used annualized
Line 20. Divide the number of days shown on line 18 by 365.
income to determine your estimated tax payments, use Part III to
show the annualized computation.
Multiply the result by 3%, the interest rate for 2017. Compute
the percentage to two places to the right of the decimal point
Line 7. Enter the installment dates for your estimated tax
(00.00%).
payments. The installment due dates for Idaho’s estimated
tax payments are the same due dates required for your federal
Complete columns B through D, lines 7 through 23. For a short
estimated tax payments.
period return, complete the appropriate number of columns.
Line 24. Add the amounts shown on line 23, columns A through
Line 8. Multiply the amount on line 6 by 25%. This is the
required installment for each quarter. If income is annualized,
D. Enter the total here and on Form 41 or Form 41S.
enter the amounts from line 33.
PART III. ANNUALIZED INCOME INSTALLMENT METHOD
Complete lines 9 through 14 for one column before completing
If your estimated tax payments are based on annualized income
for federal purposes, you may use that same method to make
the next column.
Idaho estimated tax payments. Use Schedule A, Part II of the
Line 9. Enter the estimated tax payments made during the
federal Form 2220 to compute the federal annualized income.
payment period. For column A only, include the amount credited
to 2016 estimated tax from your 2015 return and estimated tax
Line 25. For a 100% Idaho corporation, enter its federal
annualized income adjusted for Idaho additions and subtrac-
payments made by the 15th day of the 4th month of the tax year.
In column B, enter payments made after the 15th day of the 4th
tions for each period. If the corporation is multistate, multiply
month through the 15th day of the 6th month of the tax year.
the federal annualized income, adjusted for Idaho additions and
subtractions, by the apportionment factor and enter the result.
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