Section 35.01.01.822 - CORPORATE ESTIMATED PAYMENTS: ANNUALIZED INCOME INSTALLMENT METHODSection 63-3036A, Idaho Code
01.In General.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.b. See Section 6655, Internal Revenue Code, for the determination of annualized income.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: a. Twenty-two and one-half percent (22.5%) for the first period;b. Forty-five percent (45%) for the second period;c. Sixty-seven and one-half percent (67.5%) for the third period; andd. Ninety percent (90%) for the fourth period.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.Idaho Admin. Code r. 35.01.01.822