Table of Contents
The Colorado 112 form is a crucial document for C corporations operating within the state. This form facilitates the filing of corporate income tax returns, ensuring compliance with state tax regulations. The form includes several related documents, such as the DR 0112, which is the main income tax return, and the DR 0158-C, used for requesting an extension of time to file. Corporations must be aware of the due dates, typically falling on the fifteenth day of the fourth month after the end of their tax year, with extensions available for an additional six months. However, it is important to note that while an extension to file is granted, it does not extend the deadline for tax payments. Failure to meet payment deadlines can result in penalties and interest. Additionally, the form encompasses various schedules, including the Schedule RF for receipts factor apportionment and the Schedule C for Colorado affiliations. Proper mailing addresses for submitting these forms, with and without payment, are provided to ensure accurate processing by the Colorado Department of Revenue. Understanding the nuances of the Colorado 112 form is essential for corporations to maintain their tax obligations and avoid unnecessary complications.
Key takeaways
Filling out and using the Colorado 112 form can be straightforward if you keep a few key points in mind. Here are some essential takeaways:
- Understand the Deadlines: Corporate income tax returns are due on the fifteenth day of the fourth month after your tax year ends. For traditional calendar year filers, this means by April 15, 2021.
- Extensions Available: If you need more time to file, you can apply for an extension. This grants an additional six months, pushing the deadline to October 15, 2021. However, remember that this does not extend your payment due date.
- Payment Methods: Payments can be made online through Revenue Online, which is encouraged. This method reduces errors and provides instant confirmation. If you choose to pay by check or money order, ensure it accompanies the correct forms.
- Specific Mailing Addresses: Use the designated mailing addresses for submitting forms with or without payment. For forms with payment, mail to Colorado Department of Revenue, Denver, CO 80261-0006. Without payment, send to 80261-0005.
- Record Keeping: Always keep a copy of your payment and any related documents. This will help maintain accuracy in your tax account and serve as proof of payment.
- Electronic Transactions: Be aware that if you pay by check, the state may convert it to an electronic transaction. This means your bank account could be debited on the same day the check is received.
By following these guidelines, you can navigate the Colorado 112 form process more efficiently. Ensure you stay informed and proactive to avoid any penalties or issues.
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Dos and Don'ts
When filling out the Colorado 112 form, it is crucial to follow specific guidelines to ensure accuracy and compliance. Here are seven important dos and don’ts to keep in mind:
- Do ensure that you use the most current version of the form available on the Colorado Department of Revenue website.
- Do provide accurate information, including your Colorado Account Number or Federal Employer Identification Number (FEIN).
- Do double-check all calculations to avoid errors that could lead to penalties or interest.
- Do file your return by the due date, which is typically April 15 for traditional calendar year filers.
- Don’t send cash as payment; only checks or money orders are acceptable.
- Don’t staple or attach your payment to the form; simply enclose it.
- Don’t file the form if no payment is due; only submit it when making a payment or if required to file.
File Specs
| Fact Name | Description |
|---|---|
| Form Number | The Colorado 112 form is officially known as the DR 0112. |
| Purpose | This form is used for filing Colorado C Corporation income tax returns. |
| Filing Deadline | For calendar year filers, the due date is April 15, 2021. |
| Extension Option | Filing extensions allow an additional six months, until October 15, 2021. |
| Payment Deadline | There is no extension for payment; it is due by the original filing deadline. |
| Mailing Address with Payment | Forms with payment should be mailed to the Colorado Department of Revenue, Denver, CO 80261-0006. |
| Mailing Address without Payment | Forms without payment should be sent to Denver, CO 80261-0005. |
| Related Forms | Includes DR 0158-C for extensions and DR 0900C for payments. |
| Online Filing | Taxpayers are encouraged to file and pay online for accuracy and efficiency. |
| Governing Law | The form is governed by Colorado Revised Statutes, Title 39, Article 22. |