Title 39, Taxation
0 chapters · 682 sections in this title.
Colo. Rev. Stat. § 39-22-2402 Voluntary contribution designation - procedure
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For income tax years commencing on or after January 1, 2016, the Colorado state individual income tax return form must contain a line whereby each individual taxpayer may designate the amount of the contribution, if any, the individual wishes to make to the Colorado healthy river…
Colo. Rev. Stat. § 39-22-2404 Repeal of part
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This part 24 is repealed, effective January 1 of the income tax year following the year in which the executive director files written certification with the revisor of statutes that the Colorado healthy rivers fund voluntary contribution will no longer appear on the individual in…
Colo. Rev. Stat. § 39-22-2901 Voluntary contribution designation - procedure
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For income tax years that commence on or after January 1, 2016, the Colorado state individual income tax return form must contain a line whereby each individual taxpayer may designate the amount of the contribution, if any, the individual wishes to make to the Alzheimer's Associa…
Colo. Rev. Stat. § 39-22-2903 Repeal of part
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This part 29 is repealed, effective January 1 of the income tax year following the year in which the executive director files written certification with the revisor of statutes that the Alzheimer's Association fund voluntary contribution will no longer appear on the individual in…
Colo. Rev. Stat. § 39-22-300.1 Short title - citation
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This subpart 1 shall be comprised of sections 39-22-300.1 to 39-22-310 and may be cited as subpart 1. This subpart 1 shall be known and may be cited as the Colorado C Corporation Income Tax Act. Source: L. 92: Entire section added, p. 2266, � 6, effective April 16.
Colo. Rev. Stat. § 39-22-3001 Voluntary contribution designation - procedure
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For income tax years commencing on or after January 1, 2016, the Colorado state individual income tax return form must contain a line whereby each individual taxpayer may designate the amount of the contribution, if any, the individual wishes to make to the military family relief…
Colo. Rev. Stat. § 39-22-3003 Repeal of part
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This part 30 is repealed, effective January 1 of the income tax year following the year in which the executive director files written certification with the revisor of statutes that the military family relief fund voluntary contribution will no longer appear on the individual inc…
Colo. Rev. Stat. § 39-22-301 Corporate tax imposed - repeal
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(1) (a) to (c) Repealed. (d) (I) A tax is imposed upon each domestic C corporation, foreign C corporation, and combined group, as defined in section 39-22-303 (12)(a.3), doing business in Colorado annually in an amount of the net income of such C corporation during the year deriv…
Colo. Rev. Stat. § 39-22-302 S corporations
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An S corporation shall not be subject to taxation under this article. Source: L. 64: R&RE, p. 768, � 1. C.R.S. 1963: � 138-1-36. L. 92: Entire section amended, p. 2265, � 3, effective April 16. 39-22-303. Dividends in a combined report - foreign source income - affiliated groups …
Colo. Rev. Stat. § 39-22-305 Consolidated returns
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(1) An affiliated group of C corporations, as defined in section 1504 of the internal revenue code, may elect to make a consolidated return with respect to the corporate income tax imposed by section 39-22-301 (1) for the taxable year in lieu of separate returns. The making of a …
Colo. Rev. Stat. § 39-22-306 Accounting periods and methods
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The provisions of section 39-22-111 shall apply to C corporations to the extent not inconsistent with sections 39-22-301 to 39-22-305. Source: L. 64: R&RE, p. 771, � 1. C.R.S. 1963: � 138-1-40. L. 87: Entire section amended, p. 1444, � 11, effective June 22. L. 92: Entire section…
Colo. Rev. Stat. § 39-22-308 Credit allowed for purchase of Colorado coal
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(1) For income tax years commencing on or after January 1, 1989, but prior to January 1, 2005, there shall be allowed, as a credit against any taxes imposed on income by this part 3, an amount equal to one dollar per ton for each ton of Colorado coal purchased by and delivered to…
Colo. Rev. Stat. § 39-22-320 Short title - citation
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This subpart 2 shall be comprised of sections 39-22-320 to 39-22-330 and may be cited as subpart 2. This subpart 2 shall be known and may be cited as the Colorado S Corporation Income Tax Act. Source: L. 92: Entire section added, p. 2260, � 1, effective April 16.
Colo. Rev. Stat. § 39-22-321 Definitions
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For the purposes of this subpart 2, unless the context otherwise requires: (1) Income attributable to the state means items of income, loss, deduction, or credit of the S corporation apportioned or allocated to this state pursuant to section 39-22-303.5, 39-22-303.6, or 39-22-303…
Colo. Rev. Stat. § 39-22-322 Taxation of an S corporation and its shareholders
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(1) An S corporation shall not be subject to the tax imposed by this article. (2) For the purposes of section 39-22-104, each shareholder's pro rata share of the S corporation's income attributable to the state and each resident shareholder's pro rata share of the S corporation's…
Colo. Rev. Stat. § 39-22-323 Modification and characterization of income
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(1) An S corporation's income attributable to the state shall, for the purposes of section 39-22-322, be subject to the modifications provided in section 39-22-304. (2) Each resident shareholder's pro rata share of the S corporation's income not attributable to the state shall, f…
Colo. Rev. Stat. § 39-22-324 Basis and adjustments
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The basis in the hands of a shareholder of an S corporation in the stock of the S corporation and any indebtedness of the S corporation to the shareholder shall be determined in the manner provided under the internal revenue code. Source: L. 92: Entire section added, p. 2261, � 1…
Colo. Rev. Stat. § 39-22-325 Carryforwards and carrybacks - loss limitation
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(1) Carryforwards and carrybacks to and from taxable periods of an S corporation shall be restricted in the manner provided in section 1371 (b) of the internal revenue code. (2) The aggregate amount of losses or deductions of an S corporation taken into account by a shareholder o…
Colo. Rev. Stat. § 39-22-326 Part-year residence
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For the purposes of this subpart 2, if a shareholder of an S corporation is both a resident and a nonresident of this state during any taxable period, such shareholder's pro rata share of the S corporation's income attributable to the state and income not attributable to the stat…
Colo. Rev. Stat. § 39-22-327 Distributions
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A distribution made by an S corporation with respect to its stock to a shareholder shall be taken into account by such shareholder for the purposes of section 39-22-104 to the extent that the distribution is determined to be taxable under the internal revenue code. Source: L. 92:…
Colo. Rev. Stat. § 39-22-328 Returns - repeal. (Repealed)
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Source: L. 92: Entire section added, p. 2262, � 1, effective April 16. L. 2023: (2) added by revision, (HB 23-1277), ch. 290, p. 1755, �� 7, 9. Editor's note: Subsection (2) provided for the repeal of this section, effective January 1, 2024. (See L. 2023, p. 1755.)
Colo. Rev. Stat. § 39-22-329 Tax credits
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(1) For the purposes of section 39-22-108, each resident shareholder shall be considered to have paid a tax imposed on each resident shareholder in an amount equal to each resident shareholder's pro rata share of any net income tax paid by the S corporation to a state which does …
Colo. Rev. Stat. § 39-22-330 Uniformity of application and construction
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This subpart 2 shall be so applied and construed as to effectuate its general purpose to make uniform the law with respect to the subject of this subpart 2 among those states which enact the model S corporation income tax act. Source: L. 92: Entire section added, p. 2263, � 1, ef…
Colo. Rev. Stat. § 39-22-3301 Legislative declaration
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(1) The general assembly hereby finds and declares that the eradication of all cancers is essential to the quality of life of Coloradans. The general assembly recognizes that the mission of the Colorado Cancer Coalition is to bring together and coordinate cancer prevention, early…
Colo. Rev. Stat. § 39-22-3302 Voluntary contribution designation - procedure
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For income tax years commencing on or after January 1, 2016, the Colorado state individual income tax return form must contain a line whereby each individual taxpayer may designate the amount of the contribution, if any, the individual wishes to make to the Colorado cancer fund c…
Colo. Rev. Stat. § 39-22-3304 Repeal of part
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This part 33 is repealed, effective January 1 of the income tax year following the year in which the executive director files written certification with the revisor of statutes that the Colorado cancer fund voluntary contribution will no longer appear on the individual income tax…
Colo. Rev. Stat. § 39-22-340 Short title - citation
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This subpart 3 is comprised of sections 39-22-340 to 39-22-347 and may be cited as subpart 3. This subpart 3 shall be known and may be cited as the SALT Parity Act. Source: L. 2021: Entire subpart added, (HB 21-1327), ch. 300, p. 1801, � 1, effective June 23. L. 2024: Entire sect…
Colo. Rev. Stat. § 39-22-341 Legislative declaration
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The general assembly hereby finds and declares that the deductibility of state income taxes should be the same for C corporations, S corporations, and partnerships. Source: L. 2021: Entire subpart added, (HB 21-1327), ch. 300, p. 1801, � 1, effective June 23.
Colo. Rev. Stat. § 39-22-342 Definitions
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As used in this subpart 3, unless the context otherwise requires: (1) Electing pass-through entity means, with respect to a taxable period, an S corporation or partnership that has made the election under section 39-22-343 with respect to the taxable period. (2) Electing pass-thr…
Colo. Rev. Stat. § 39-22-343 Election
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(1) (a) Notwithstanding sections 39-22-201, 39-22-302, and 39-22-322, and except as provided in subsection (2) of this section, for income tax years commencing on or after January 1, 2018, an S corporation or partnership may annually elect to be subject to tax at the entity level…
Colo. Rev. Stat. § 39-22-344 Imposition of tax
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(1) With respect to any taxable period for which it has made the election under section 39-22-343, an electing pass-through entity is subject to a tax in an amount equal to the tax rate set forth in section 39-22-301 for the applicable income tax year multiplied by the sum of the…
Colo. Rev. Stat. § 39-22-345 Owner exclusion
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The basis in the hands of an electing pass-through entity owner in the interest in the partnership or the stock or indebtedness in the S corporation is determined as if the election under section 39-22-343 had not been made. Source: L. 2021: Entire subpart added, (HB 21-1327), ch…
Colo. Rev. Stat. § 39-22-346 Credit for tax paid in other states
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For purposes of the resident pass-through entity owners, the credit allowed under section 39-22-108 is calculated without regard to the credit allowed under section 39-22-347. Source: L. 2021: Entire subpart added, (HB 21-1327), ch. 300, p. 1804, � 1, effective June 23. L. 2022: …
Colo. Rev. Stat. § 39-22-3601 Legislative declaration
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(1) The general assembly hereby finds and declares that the Make-A-Wish Foundation of Colorado, a nonprofit entity, grants the wishes of children with life-threatening medical conditions to enrich the human experience with hope, strength, and joy. The general assembly further fin…
Colo. Rev. Stat. § 39-22-3602 Voluntary contribution designation - procedure
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For income tax years commencing on or after January 1, 2016, the Colorado state individual income tax return form shall contain a line whereby each individual taxpayer may designate the amount of the contribution, if any, the individual wishes to make to the Make-A-Wish Foundatio…
Colo. Rev. Stat. § 39-22-3604 Repeal of part
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This part 36 is repealed, effective January 1 of the income tax year following the year in which the executive director files written certification with the revisor of statutes that the Make-A-Wish Foundation of Colorado fund voluntary contribution will no longer appear on the in…
Colo. Rev. Stat. § 39-22-3801 Legislative declaration
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(1) The general assembly hereby finds and declares that: (a) Horses are a cherished part of our western heritage and an important aspect of Colorado's culture and economy; (b) Colorado is facing a growing threat of an increasing number of unwanted horses; (c) Approximately six th…
Colo. Rev. Stat. § 39-22-3802 Voluntary contribution designation - procedure
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For income tax years commencing on or after January 1, 2016, the Colorado state individual income tax return form must contain a line whereby each individual taxpayer may designate the amount of the contribution, if any, the individual wishes to make to the unwanted horse fund cr…
Colo. Rev. Stat. § 39-22-3804 Repeal of part
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This part 38 is repealed, effective January 1 of the income tax year following the year in which the executive director files written certification with the revisor of statutes that the unwanted horse fund voluntary contribution will no longer appear on the individual income tax …
Colo. Rev. Stat. § 39-22-403 Income of a nonresident estate or trust subject to income tax
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(1) In the case of a nonresident estate or trust, the tax imposed by section 39-22-104 shall be apportioned in the ratio of the Colorado-source federal taxable income to the total federal taxable income, both modified as provided in section 39-22-104. (2) Colorado-source federal …
Colo. Rev. Stat. § 39-22-406 Special rule for accumulation distributions. (Repealed)
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Source: L. 64: R&RE, p. 775, � 1. C.R.S. 1963: � 138-1-50. L. 83: Entire section repealed, p. 1515, � 11, effective January 1, 1984.
Colo. Rev. Stat. § 39-22-407 Accounting periods and methods
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The provisions of section 39-22-111 shall apply to trusts and estates to the extent not inconsistent with sections 39-22-401 to 39-22-404. Source: L. 64: R&RE, p. 775, � 1. C.R.S. 1963: � 138-1-51. L. 83: Entire section amended, p. 1515, � 10, effective January 1, 1984. L. 87: En…
Colo. Rev. Stat. § 39-22-4301 Legislative declaration
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(1) The general assembly hereby finds, determines, and declares that: (a) The American Red Cross is a humanitarian organization that brings together well-trained and dedicated volunteers and paid staff to help prevent, prepare for, and respond to emergencies; (b) The American Red…
Colo. Rev. Stat. § 39-22-4304 Repeal of part
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This part 43 is repealed, effective January 1 of the income tax year following the year in which the executive director files written certification with the revisor of statutes that the American Red Cross Colorado disaster response, readiness, and preparedness fund voluntary cont…
Colo. Rev. Stat. § 39-22-4501 Legislative declaration
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(1) The general assembly hereby finds, determines, and declares that: (a) Habitat for Humanity is an organization that welcomes all people, regardless of race, religion, ethnicity, or any other difference, to build and repair simple, decent, affordable houses for those who lack a…
Colo. Rev. Stat. § 39-22-4504 Repeal of part
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This part 45 is repealed, effective January 1 of the income tax year following the year in which the executive director files written certification with the revisor of statutes that the Habitat for Humanity of Colorado fund voluntary contribution will no longer appear on the indi…
Colo. Rev. Stat. § 39-22-4701 Short title
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The short title of this part 47 is the First-time Home Buyer Savings Account Act. Source: L. 2016: Entire part added, (HB 16-1467), ch. 321, p. 1302, � 2, effective August 10.
Colo. Rev. Stat. § 39-22-4702 Legislative declaration
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The general assembly declares that the purpose for allowing taxable income to be reduced by earnings from a first-time home buyer savings account is to encourage first-time home ownership through incentivizing saving for a down payment and closing costs because of the significant…
Colo. Rev. Stat. § 39-22-4703 Definitions
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As used in this part 47, unless the context otherwise requires: (1) Account holder means an individual who establishes an account with a financial institution that is designated as a first-time home buyer savings account in accordance with section 39-22-4704. (2) Department means…
Colo. Rev. Stat. § 39-22-4704 First-time home buyer savings account
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(1) Beginning January 1, 2017, and prior to January 1, 2025, any individual may open an account with a financial institution and designate the account, in its entirety, as a first-time home buyer savings account to be used to pay or reimburse a qualified beneficiary's eligible ex…