A person under age 18 who was adjudicated for an offense that would be a felony if committed by an adult and was committed to the Department of Human Services for at least 180 days is not eligible for the refund. The amount of a person's refund will be based on 1999 federal adjusted gross income plus any untaxed social security income, and the filing status of the taxpayer. Federal adjusted gross income is a person's income before personal exemptions and deductions. This income measure includes wages, interest, dividends, alimony received, business income, capital gains, unemployment compensation, taxable IRA distributions and social security income, farm and rental income, and state income tax refunds for taxpayers who itemize deductions. Federal adjusted gross income is reduced by certain adjustments such as IRA distributions, alimony paid, moving expenses, and contributions for a Keogh and self-employed SEP plan.
Most taxpayers can claim the sales tax refund by filing a state income tax return.
Eligible Colorado residents who do not file a federal income tax return because their incomes are too low should insert a zero on the line for qualifying income. The state income tax forms will be available at the end of 1999 and refunds can be claimed beginning January 3, 2000. All Colorado residents who are eligible for the sales tax refund must file a 1999 state income tax return or a 1999 104PTC form by April 15, 2000. However, taxpayers who receive an extension of time to file the state income tax return will receive the refund if the return is filed by October 15, 2000. The refunds will be issued under the same time schedule as income tax refunds.