Form 51 Estimated Payment of Idaho Individual Income Tax

Form 51 Estimated Payment of Idaho Individual Income Tax

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INSTRUCTIONS: ESTIMATED PAYMENT OF IDAHO INDIVIDUAL INCOME TAX (Form 51)

 

 

Idaho residents who are unable to complete their individual tax returns by the state due date may file an estimated payment by this time. This will grant them an automatic six-month extension to file their forms. You should only submit this form 51 if you are including a payment. The form is available on the website of the Idaho State Tax Commission. This article discusses the form for the 2011 tax year.

 

Estimated Payment Of Idaho Individual Income Tax 51 Step 1: In order to complete the tax worksheet, you will need to complete Idaho state tax forms 40 and 43. Follow the instructions to transfer the appropriate amounts concerning your 2010 tax returns. Do the same for your 2011 estimated taxable income on line two.

 

Estimated Payment Of Idaho Individual Income Tax 51 Step 2: You will need to use forms 40 and 43 to complete line three, which concerns estimated additional income taxes, and line four, which concerns estimated income tax credits.

 

Estimated Payment Of Idaho Individual Income Tax 51 Step 3: Add lines two and three. Subtract line four from the total. Enter the result on line five. Multiply the result by 80% on line six.

 

Estimated Payment Of Idaho Individual Income Tax 51 Step 4: Enter either line one or line six, whichever number is smaller, on line seven. 

 

Estimated Payment Of Idaho Individual Income Tax 51 Step 5: On line eight, enter the total amount withheld for your wages to pay Idaho state tax. Enter tentative payments made in advance based on estimations on line nine. Add lines eight and nine. Enter the result in line ten. Subtract line ten from line seven to determine the amount due on line eleven.

 

Estimated Payment Of Idaho Individual Income Tax 51 Step 6: The amount on line eleven will be less than what you will owe when interest is applied to your payment for the rest of the balance owed. If you wish to pay more, enter how much in line twelve and enter the new total on line thirteen.

 

Estimated Payment Of Idaho Individual Income Tax 51 Step 7: Cut off the bottom half of the form. Enter the amount being paid, your name and Social Security number (and spouse's if applicable) and address. Indicate with a check mark which tax year this form concerns.


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