Do I have to make estimated payments?
A Colorado individual taxpayer must make estimated income tax payments if it can reasonably be expected that the net Colorado income tax liability for the current taxable year will exceed the Colorado sales tax refund (if applicable that year) and withholding credits by $1,000 or more. Taxpayers who underpay estimated tax may be subject to a penalty.
How do I pay?
- Make estimated payments by credit card or echeck through Revenue Online, or
- Make estimated payments by mail by using the Estimated Individual Income Tax Payment Vouchers (104EP). Send the payment to:
Colorado Department of Revenue
Denver, CO 80261-0008
Estimated tax payments submitted by a married couple that will file a joint tax return must show the names of each spouse and the Social Security numbers in the same order on the estimated tax payment voucher (104EP) as on the Colorado individual income tax form (104) or the electronic filing. For more information, please see FYI Income 51.
What are the due dates?
Estimated tax payments are due in four equal installments on
- April 15 (first calendar quarter)
- June 15 (second calendar quarter)
- September 15 (third calendar quarter)
- January 15 (fourth calendar quarter)
If the due date falls on a Saturday, Sunday or state holiday, payment is due on the next business day.
Tips on Estimated Payments
- To compute estimated income tax please see the worksheet provided in the 104EP booklet.
- Check your estimated tax payments online through Revenue Online.
- Estimated tax payments are claimed when you file your Colorado Individual Income Tax Return (104).