If you do not pay enough state tax by the due date of each of the payment periods, you may be charged a penalty for Colorado, even if you are due a refund when you file your income tax return. See this Colorado webpage for more information.
You can preview your return before filing to review the forms that TurboTax has prepared from your entries and to find out how your taxes were calculated. See here for details.
If you have a refund due from Colorado that exceeds the amount of the underpayment penalty, then the penalty should be deducted from the refund. Check the Colorado state return. Line 35 shows the overpayment of tax. Line 41 shows the penalty and Line 42 shows the amount due with the return, if any.
Colorado taxpayers can also make payments online at this website if they choose.
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