Idaho Quarterly Estimated Tax/Extension of Time Payment

Quarterly Estimated Tax/Extension of Time Payment
Form 41ES, Estimated Tax Payment/Extension of Time Payment Business Income Tax and Instructions 2023
Form 41ES — Worksheets
Business Income Tax Payments
Use the worksheet in Part A to compute your business estimated tax payments.
Use the worksheet in Part B to determine if you need to make an extension of time payment.
If you’re making a Form ABE, Affected Business Entity Election payment before filing a return, use the voucher below.
A. Business Estimated Tax Payments Worksheet
1. 2023 estimated Idaho taxable income .......................................................................................

1.

2. Income tax on estimated Idaho taxable income. Multiply line 1 by 5.8% ................................... 2.
3. Permanent building fund tax ($10 or, if a combined report, multiply $10 by the number
of corporations required to file an Idaho income tax return) ......................................................

3.

4. Tax from recapture of business income tax credits. See Form 44, Part II, for a complete list ...

4.

5. Total income tax. Add lines 2 through 4 .....................................................................................

5.

6. Estimated income tax credits .....................................................................................................

6.

7. 2023 estimated income taxes payable. Line 5 minus line 6 ......................................................
(If the amount is less than $500, stop here. You aren’t required to make estimated tax payments.)

7.

8. Multiply line 7 by 90% ................................................................................................................

8.

9. Idaho total tax less the total of the fuels tax, sales/use tax, tax from recapture of
qualified investment exemption (QIE), and the tax reimbursement incentive credit
from the 2022 tax return ............................................................................................................

9.

10. Estimated tax payments. Multiply the smaller of lines 8 or 9 by 25%. This is the
amount of each estimated tax payment ..................................................................................... 10.
B. Extension of Time Payment Worksheet

Yes

1. Was a tax return filed last year? .................................................................................................
2. If yes, enter the total tax less the total of the fuels tax, sales/use tax, tax from recapture
of QIE, and the tax reimbursement incentive credit from the 2022 tax return ............................

No

1.
2.

3. 2023 estimated income tax due less estimated income tax credits. (Estimated tax due
includes the $20 minimum tax, the $10 permanent building fund tax, and tax from recapture
of business income tax credits.) See instructions ......................................................................

3.

4. Multiply line 3 by 80% ................................................................................................................

4.

5. If you answered yes to the question on line 1, enter the smaller amount from line 2 or 4.
If you answered no, enter the amount from line 4 ......................................................................

5.

6. Estimated tax payments and tentative payments ......................................................................

6.

7. Payment. Line 5 minus line 6. If $50 or less, a payment isn’t required .....................................

7.

Pay online at tax.idaho.gov/epay (don’t send voucher). Sending check and/or money order? Use voucher below.
Mail to:

Form 41ES — Voucher
Estimated Tax Payment/Extension of Time Payment/ABE Payment
Business Income Tax
For calendar year

, or fiscal year beginning

Mo

Day

Year

ending

Mo

Idaho State Tax Commission
PO Box 83784
Boise ID 83707-3784
Day

Year

Business name

Federal Employer Identification Number (EIN)

Current business mailing address

Tax code

05

Tran code

10

City

State

Name/address change?

Yes

No

Type of Payment

1
2

Estimated Tax
Extension of Time

EFO00026

09-08-2023 

3
4

Combined report?

ZIP Code

Yes

Qualified Investment Exemption (QIE)
Affected Business Entity Election (ABE)

No

Amount paid

$

.00

Type of Return to be Filed

1
2

Corporation - Form 41
S Corporation - Form 41S

3
4

Fiduciary - Form 66
Partnership - Form 65

Form 41ES — Instructions
Business Income Tax Payments
A. Business Estimated Tax Payments
Who Must Make Estimated Tax Payments
A corporation must make estimated tax payments
to the Tax Commission if it’s required to make
estimated tax payments to the Internal Revenue
Service and will have an Idaho income tax liability
of $500 or more. Estimated tax payments aren’t
required if the corporation wasn’t required to file an
Idaho return the previous tax year.
If you received personalized payment vouchers
(Form 41EST), use the appropriate voucher
for each filing period. If any of the preprinted
information is incorrect, draw a line through it, and
enter the correct information. Check the mailing
address change box on the voucher if there’s a
change in your mailing address. If you don’t have
a preprinted form, use the Form 41ES, available at
tax.idaho.gov.
Estimated Tax Payments
Each estimated tax payment must be 25% of the
lesser of:
•	 100% of the corporation’s income tax for 2022
•	 90% of its income tax for 2023
Don’t include:
•	 Fuels tax due
•	 Sales/use tax due
•	 Fuels tax refunds
•	 Tax from the recapture of qualified investment
exemption (QIE), or
•	 The tax reimbursement incentive credit
For corporations, the tax required to be reported is
defined as Idaho taxable income multiplied by the
appropriate tax rate, plus the permanent building
fund tax, plus tax from recapture of business
income tax credits, minus allowable income
tax credits. A corporation making estimated tax
payments in a year following the revocation of
subchapter S status will use $20 as the tax amount
required to be reported on the prior year’s return.
For S corporations, estimated tax payments are
computed on the Idaho tax due to net recognized
built-in gains and excess net passive income.
Estimated tax payments aren’t required on the
tax due on income you report for individual
shareholders.

EIN00073

09-08-2023 

Computation of Estimated Tax Payments
The Form 41ES worksheet allows you to compare the
income tax on last year’s return with the anticipated
income tax for the current year. Use the smaller of the
two amounts to determine the estimated tax payment
for each period. If your estimated tax payments are
based on 90% of the income tax required to be paid
on the current year’s return and the anticipated income
tax for the current year is revised, use the revised
amount to recompute any remaining estimated tax
payments.
Due Dates
For calendar year taxpayers, estimated tax payments
are due by the 15th day of April, June, September, and
December. For fiscal year taxpayers, estimated tax
payments are due by the 15th day of the 4th, 6th, 9th,
and 12th months of the tax year.
The due dates for the federal and Idaho estimated
tax payments are the same. If the due date is on a
Saturday, Sunday, or legal holiday, the payment is due
on the next regular business day.
Underpayment of Estimated Tax
Interest is due on the difference between the amount
of estimated tax payment required to be made on
each voucher and the amount of estimated tax
payment actually made. Interest is computed from the
due date of the estimated payment until the required
amount is paid or until the due date of the return,
whichever comes first. The interest rate for 2023 is
5%. The interest rate for 2024 is 6%.
Use Form 41ESR to determine the amount of any
underpayments of tax and interest due when you file
your return.
Overpayment of Estimated Tax
If your estimated tax payments are more than the tax
you owe, you’ll receive a refund after filing your return.
You may apply all or part of the excess to next year’s
estimated tax by designating the amount on Form 41,
Idaho Corporation Income Tax Return or Form 41S,
S Corporation Income Tax Return.
Overpayments will be applied to any prior year
tax debt before carryovers or refunds are allowed.
You’ll be notified if your overpayment is applied to
an existing debt or is used to reduce your refund or
carryover.

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Form 41ES — Instructions

Annualized Income and Estimated Tax Payments
If your estimated tax payments are based on
annualized income for federal purposes, you can
use that same method for making Idaho estimated
tax payments. Calculate the estimated tax due for
the installment period by multiplying the applicable
percentage (22.5%, 45%, 67.5%, and 90% for the
1st, 2nd, 3rd, and 4th installments, respectively) by
the full year’s tax on the annualized income for the
period and deducting any prior installments.
Short Tax Year
If the short tax year ends before any remaining
due dates, you must make a final estimated tax
payment by the 15th day of the last month of
the short tax year. You aren’t required to make
an estimated tax payment if the short tax year is
less than four months or if you haven’t met the
requirements to make an estimated tax payment
before the first day of the last month in the short tax
year.

B. Business Extension of Time Payments
General Information
If you can’t file your Idaho return by the due date,
you’ll be allowed an automatic six-month extension
of time to file without sending a written request. To
qualify you must pay at least:
•	 80% of the 2023 income tax liability, or
•	 100% of the total income tax reported on the
2022 income tax return
If you’ll owe $50 or less, a payment isn’t required;
however, interest will accrue.
Paying less than the required amount will
result in a penalty. We’ll charge a penalty if
you pay the required amount but don’t pay the
remainder of the tax due by the extended due
date. For more information or to calculate a
penalty, see our Penalties and Interest page
at tax.idaho.gov/penalties. Interest accrues
on any balance of tax due on the return when
it’s filed until it’s paid in full.

(continued)

Corporations
Multiply 5.8% by the estimated taxable income. If the
amount is less than $20, use $20 as the estimated
tax. Add the $10 permanent building fund tax to
the estimated income tax, and subtract the amount
estimated for income tax credits.
S Corporations
S corporations are taxed on excess net passive
income and net recognized built-in gains. Use 5.8%
to compute the estimated tax on this income. If the
estimated tax on these items is less than $20 or the
S corporation doesn’t report income from these items,
use $20 as the estimated tax.
S Corporations, Partnerships, Trusts, and
Estates with Individual Shareholders, Partners,
and Beneficiaries
If the income is reported and the tax paid for the
individual shareholders, partners, or beneficiaries,
use 5.8% to compute the estimated tax. This is in
addition to the tax computed for the S corporation,
partnership, trust, or estate. Add the $10 permanent
building fund tax for each individual not filing an Idaho
individual income tax return. Add the $10 permanent
building fund tax for each nonresident individual owner
included in the affected business entity return.
Trusts and Estates
Add the permanent building fund tax to the computed
tax unless all income is distributed to beneficiaries or if
the trust is a qualified funeral trust.

Other Payments
QIE Recapture Payment
You also can use Form 41ES to make payments of
QIE recapture when you file your income tax return
after the due date. Check the QIE box at the bottom of
the form, and return it with your check. Include a copy
of Form 49ER.
ABE Payment
You can use Form 41ES to make ABE payments.
Check the ABE box at the bottom of the form and
return it with your check.

Contact us:

In the Boise area: (208) 334-7660 | Toll free: (800) 972-7660
Hearing impaired (TDD) (800) 377-3529
tax.idaho.gov/contact
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09-08-2023 

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