2024 Computation of Penalty Due Based on Underpayment of Colorado Estimated Tax for a Partnership and S Corporation
This form should be included with your completed DR 0106 form. In general, a partnership or S corporation must remit four quarterly estimated tax payments if its net Colorado tax liability for the tax year either with a composite nonresident return or as a result of a SALT Parity Act election exceeds $5,000. The electing partnership or S corporation can calculate its estimated tax payments based on its net tax liability for the preceding year only if it made a SALT Parity Act election for that preceding tax year.