Title 39, Taxation

The provisions of section 39-22-111 shall apply to partnerships to the extent not inconsistent with sections 39-22-201 to 39-22-203. Source: L. 64: R&RE, p. 768, § 1. C.R.S. 1963: § 138-1-28. L. 87: Entire section amended, p. 1438, § 6, effective June 22.

If a partnership qualifies as an export taxpayer, its partners may exclude from gross income for Colorado income tax purposes such partners' distributive share of any such partnership income or gain which constitutes foreign source income for federal income tax purposes. For the …

As used in this part 21, unless the context otherwise requires: (1) "Allocation certificate" means a statement issued by the authority certifying that a given development qualifies for the credit and specifying the amount of the credit allowed. (2) "Authority" means the Colorado …

(1) For income tax years during the credit period, there shall be allowed to any qualified taxpayer a credit with respect to the income taxes imposed by this article in the amount determined by the authority pursuant to this part 21. (2) The authority may allocate a credit to an …

(1) As of the last day of any taxable year during the compliance period, if the amount of the qualified basis of a qualified development with respect to a taxpayer is less than the amount of the qualified basis as of the last day of the prior taxable year, then the amount of the …

An owner of a qualified development to which a credit has been allocated and each qualified taxpayer to which such owner has allocated a portion of said credit, if any, shall file with their state income tax return a copy of the allocation certificate issued by the authority with…

(1) Any taxpayer who is subject to the tax on insurance premiums established by sections 10-3-209, 10-5-111, and 10-6-128 and who is therefore exempt from the payment of income tax and who is otherwise eligible to claim a credit pursuant to this part 21 may claim such credit and …

The authority and the executive director of the department, in consultation with each other, shall promulgate rules necessary for their respective administration of this part 21. Rules of the executive director of the department shall be promulgated in accordance with article 4 o…

The authority, in consultation with the department, shall monitor and oversee compliance with the provisions of this part 21 and shall report specific occurrences of noncompliance to the department. Source: L. 2000: Entire part added, p. 879, § 1, effective August 2.

(1) For each allocation year, the authority shall, by December 31 of that year, provide a written report to the general assembly and shall further make the report available to the public. With respect to allocated state affordable housing tax credits under section 39-22-2102, the…

For income tax years commencing on or after January 1, 2010, 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 taxpayer wishes to make to the pet overpopulation fund …

The department of revenue shall determine annually the total amount designated pursuant to section 39-22-2201 and shall report the amount to the state treasurer, who shall credit such amount to the pet overpopulation fund created in section 42-3-234 (7)(f). The general assembly s…

This part 22 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 pet overpopulation fund voluntary contribution will no longer appear on the individual income …

The general assembly hereby finds and declares that the natural heritage and quality of life in Colorado are of fundamental importance to the citizens of the state, and the protection of this natural heritage and quality of life are essential to sustainable economic development i…

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…

(1) The department of revenue shall determine annually the total amount designated pursuant to section 39-22-2402 and shall report such amount to the state treasurer and to the general assembly. The state treasurer shall credit such amount to the Colorado healthy rivers fund, whi…

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…

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…

(1) The department of revenue shall determine annually the total amount designated pursuant to section 39-22-2901 and shall report such amount to the state treasurer and to the general assembly. The state treasurer shall credit such amount to the Alzheimer's Association fund, whi…

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…

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. ANNOTATION L…

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…

(1) The department of revenue shall determine annually the total amount designated pursuant to section 39-22-3001 and shall report such amount to the state treasurer, the adjutant general, and the house and senate state, veterans and military affairs committees. The state treasur…

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…

(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…

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. ANNOTATION Law reviews. For article, "S Corporations in Colorado: Recent Cases and Leg…

(1) to (5) (Deleted by amendment, L. 2008, p. 955, § 7, effective January 1, 2009.) (6) In the case of two or more C corporations, whether domestic or foreign, owned or controlled directly or indirectly by the same interests, the executive director may, to avoid abuse, on a fair …

(1) On or before June 1, 1997, the executive director shall promulgate regulations to ensure nondiscriminatory tax treatment of financial organizations engaged in interstate banking or interstate branching and, in connection therewith, shall consider: (a) Any recommendations of t…

(1) As used in this section, unless the context otherwise requires: (a) "Business income" means the net income of the taxpayer arising from the transactions and activity in the regular course of a taxpayer's trade or business and includes income from tangible and intangible prope…

(1) As used in this section, unless the context otherwise requires: (a) "Apportionable income" means: (I) Any income that would be allocable to this state under the United States constitution, but that is apportioned rather than allocated pursuant to the laws of this state; and (…

(1) As used in this section, unless the context otherwise requires: (a) "Administration services" includes, but is not limited to, clerical, fund, or shareholder accounting and participant record keeping, transfer agency, bookkeeping, data processing, custodial, internal auditing…

(1) As used in this section, unless the context otherwise requires: (a) "Capital investment" means the: (I) Purchase and construction of real estate; or (II) Purchase and deployment of capital equipment, machines, building systems, infrastructure, or other depreciable assets, inc…

(1) (a) The net income of a C corporation means the C corporation's federal taxable income, as defined in the internal revenue code, for the taxable year, with the modifications specified in this section. (b) (I) (A) For income tax years commencing on or after January 1, 2022, bu…

(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 …

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…

(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…

It is the intent of the general assembly that, in interpreting or construing the provisions of this part 3, statutes shall be given the strongest weight, then rules and regulations, and then the administrative interpretation or construction of said provisions by the executive dir…

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. ANNOTATION Law…

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 39-22-3…

(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…

(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…

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…

(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…

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…

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:…

(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 …