IDAPA 35.01.01.822 — CORPORATE ESTIMATED PAYMENTS: ANNUALIZED INCOME INSTALLMENT METHOD

(RULE 822).
Section 63-3036A, Idaho Code
01.
In General.
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a.
If a corporation uses the annualized income installment method for federal purposes and is required
to make estimated payments for Idaho purposes, the corporation may use that method to compute its Idaho estimated
tax. If a corporation does not use the annualized income installment method for federal purposes, the corporation may
not use that method for Idaho purposes.
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b.
See Section 6655, Internal Revenue Code, for the determination of annualized income.
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02.
Required Installment. The required annualized income installment is the applicable percentage of
the tax computed on the annualized income less the aggregate amount of any prior required installments for the
reporting period. The applicable percentages for Idaho are:
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a.
Twenty-two and one-half percent (22.5%) for the first period;
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b.
Forty-five percent (45%) for the second period;
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c.
Sixty-seven and one-half percent (67.5%) for the third period; and
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d.
Ninety percent (90%) for the fourth period.
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03.
Computation of Tax. The tax computed on the annualized income includes the annualized income
multiplied by the corporate income tax rate, plus the permanent building fund tax, plus recapture of investment tax
credit, less any credits excluding estimated payments.
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