Get CO DoR 112 2018

Choose a corporate name. File your Articles of Incorporation. Appoint a registered agent. Start a corporate records book. Prepare corporate bylaws. Appoint initial directors. Hold first Board of Directors meeting. Issue stock to shareholders.

Choose a corporate name. File your Articles of Incorporation. Appoint a registered agent. Start a corporate records book. Prepare corporate bylaws. Appoint initial directors. Hold first Board of Directors meeting. Issue stock to shareholders.

Colorado recognizes the federal S election, and Colorado S corporations are not required to pay tax to the state. However, individual S corporation shareholders will owe tax on their share of the corporation's income.

Choose a name for your business. Choose the right type of business entity. Register your business with the CO Secretary of State. Get your Federal Tax ID Number. Open a bank account and get a debit/credit card. Register with the Colorado Department of Revenue for taxes.

Here are some of the most common licenses and permits you may need. Colorado businesses that are corporations, non-profits, limited liability companies and partnerships must register with the Colorado Secretary of State. ... A sole proprietorship business does not need to register with the Secretary of State.

State Taxes In states that require S corporations to pay taxes or fees, you will need to file separate state tax returns for your S corporation.

To request an installment agreement: Call Department of Revenue Collections at 303-205-8291. Our agents will set your monthly payment amount in consideration of the total amount of tax debt owed.

Although the IRS prefers four equal payments of estimated taxes throughout the year, you don't have to pay estimated taxes until you receive untaxed income. ... To find that out, you'll have to complete a worksheet found in IRS Publication 505, Tax Withholding and Estimated Tax.

Generally speaking, quarterly estimated tax payments need to be made by anyone who does not have withholding tax taken out on their income. Most people who are salaried and receive a W2 are subject to income tax withholding. They don't usually need to make estimated tax payments.

If you owe more than $1,000, the IRS wants its owed taxes paid during the year. Any missed quarterly payment will result in penalties and interest. ... He advises sending the payment as soon as possible and appealing any penalty. The IRS can be pretty forgiving about penalties, said Zinman.

Who Should Pay Quarterly Tax Payments? If you are filing as a sole proprietor, partner, S-corporation shareholder, and/or a self-employed individual, you generally have to make estimated tax payments if you expect to owe tax of $1,000 or more when you file your return, notes the IRS.

If you don't pay enough tax through withholding and estimated tax payments, you may be charged a penalty. You also may be charged a penalty if your estimated tax payments are late, even if you are due a refund when you file your tax return.

The failure to file penalty is 5% for each month that a return is late, but not more than 25% of your tax owed. The failure to pay penalty is ½ of 1% of your unpaid taxes for each month after the due date that the tax is not paid.

Overview of Colorado Personal Income Taxes You must file a tax return in Colorado if, during the tax year, you were a full-time resident, part-time resident with taxable income during the time you were a resident, or a non-resident of the state with income from a Colorado source.

Colorado offers an automatic 6-month extension to file your income tax return if you cannot submit your return by the April 15 due date. This means that you can file your return by October 15 without filing this form. While there is an extension to file, there is not an extension to the payment due date.