reglab/statecodes huggingface dataset:
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 5 - SPECIAL RULES (§§ 39-22-501 — 39-22-570) › Section 39-22-517 - [Effective Until 8/7/2024] Tax credit for child care center investments

(1)
With respect to taxable years commencing on or after January 1, 1992, there is allowed to any person operating a child care center licensed pursuant to section
26-6-905
or
26.5-5-309
, family child care home licensed pursuant to section
26.5-5-309
, or foster care home licensed pursuant to section
26-6-905
a credit against the tax imposed by this article 22 in the amount of twenty percent of the taxpayer's annual investment in tangible personal property to be used in such child care center, family child care home, or foster care home.
(2)
With respect to taxable years commencing on or after July 1, 1992, there is allowed to any sole proprietorship, partnership, limited liability corporation, subchapter S corporation, or regular corporation that provides child care facilities that are incidental to their business and are licensed pursuant to section
26-6-905
or
26.5-5-309
for the use of its employees a credit against the tax imposed by this article 22 in the amount of ten percent of the taxpayer's annual investment in tangible personal property to be used in such child care facilities.
(3)
The credit allowed by this section for any income tax year shall not exceed the taxpayer's actual tax liability for such taxable year. If the amount of the credit allowed by this section exceeds the taxpayer's actual tax liability for any income tax year in which the child care center investment credit is claimed, referred to in this subsection (3) as the "unused credit year", such excess shall be an investment tax credit carryover to each of the three income tax years following the unused credit year and shall be applied first to the earliest income tax years possible.
Amended by 2022 Ch. 145, § 10, eff. 1/1/2023.
Amended by 2022 Ch. 123, § 130, eff. 7/1/2022.
L. 92: Entire section added, p. 2245, § 1, effective June 5. L. 96: (1) amended, p. 267, § 22, effective July 1.
2022 Ch. 145, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 5 - SPECIAL RULES (§§ 39-22-501 — 39-22-570) › Section 39-22-517 - [Effective 8/7/2024] Tax credit for child care center investments - repeal

(1)
With respect to taxable years commencing on or after January 1, 1992, and prior to January 1, 2026, there is allowed to any person operating a child care center licensed pursuant to section
26-6-905
or
26.5-5-309
, family child care home licensed pursuant to section
26.5-5-309
, or foster care home licensed pursuant to section
26-6-905
a credit against the tax imposed by this article 22 in the amount of twenty percent of the taxpayer's annual investment in tangible personal property to be used in such child care center, family child care home, or foster care home.
(2)
With respect to taxable years commencing on or after July 1, 1992, and prior to January 1, 2026, there is allowed to any sole proprietorship, partnership, limited liability corporation, subchapter S corporation, or regular corporation that provides child care facilities that are incidental to their business and are licensed pursuant to section
26-6-905
or
26.5-5-309
for the use of its employees a credit against the tax imposed by this article 22 in the amount of ten percent of the taxpayer's annual investment in tangible personal property to be used in such child care facilities.
(3)
The credit allowed by this section for any income tax year shall not exceed the taxpayer's actual tax liability for such taxable year. If the amount of the credit allowed by this section exceeds the taxpayer's actual tax liability for any income tax year in which the child care center investment credit is claimed, referred to in this subsection (3) as the "unused credit year", such excess shall be an investment tax credit carryover to each of the three income tax years following the unused credit year and shall be applied first to the earliest income tax years possible.
(4)
This section is repealed, effective December 31, 2033.
Amended by 2024 Ch. 373,§ 11, eff. 8/7/2024.
Amended by 2022 Ch. 145, § 10, eff. 1/1/2023.
Amended by 2022 Ch. 123, § 130, eff. 7/1/2022.
L. 92: Entire section added, p. 2245, § 1, effective June 5. L. 96: (1) amended, p. 267, § 22, effective July 1.
2024 Ch. 373, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2022 Ch. 145, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 5 - SPECIAL RULES (§§ 39-22-501 — 39-22-570) › Section 39-22-519 - [Repealed]

L. 94: Entire section added, p. 2822, § 2, effective June 3.
Subsection (3) provided for the repeal of this section, effective January 1, 1999. (See L. 94, p. 2822.)
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 5 - SPECIAL RULES (§§ 39-22-501 — 39-22-570) › Section 39-22-521 - [Effective Until 8/7/2024] Credits against tax - employer expenses - public assistance recipients

(1)
With respect to taxable years commencing on or after January 1, 1998, there shall be allowed to an employer of any person receiving public assistance pursuant to the Colorado works program set forth in part 7 of article
2
of title
26
, C.R.S., a credit, for not more than two years, against the tax imposed by this article in the amount of twenty percent of the employer's annual investment in any one or more of the following services that are incidental to the employer's business:
(a)
The provision of child care services or the payment of the costs associated with child care services for children of employees receiving public assistance;
(b)
The provision of health or dental insurance for employees receiving public assistance, which health or dental insurance coverage, if less than the coverage provided through medicaid, shall be supplemented by medicaid to provide full medicaid benefits to the employee;
(c)
The provision of job training or basic education of employees receiving public assistance;
(d)
The provision of programs for the transportation of public assistance employees to and from work.
(2)
The tax credit described in subsection (1) of this section shall be in addition to any other credits for which the employer may be eligible pursuant to the provisions of article
30
of this title.
(3)
The credit allowed by this section for any income tax year shall not exceed the employer's actual tax liability for such taxable year. If the amount of the credit allowed by this section exceeds the employer's actual tax liability for any income tax year in which the credit authorized in this section is claimed, such excess shall be a tax credit carryover to each of the three income tax years following the unused credit year and shall be applied first to the earliest income tax years possible.
L. 97: Entire section added, p. 1245, § 52, effective July 1.
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 5 - SPECIAL RULES (§§ 39-22-501 — 39-22-570) › Section 39-22-521 - [Effective 8/7/2024] Credits against tax - employer expenses - public assistance recipients - repeal

(1)
With respect to taxable years commencing on or after January 1, 1998, and prior to January 1, 2025, there shall be allowed to an employer of any person receiving public assistance pursuant to the Colorado works program set forth in part 7 of article
2
of title
26
, a credit, for not more than two years, against the tax imposed by this article in the amount of twenty percent of the employer's annual investment in any one or more of the following services that are incidental to the employer's business:
(a)
The provision of child care services or the payment of the costs associated with child care services for children of employees receiving public assistance;
(b)
The provision of health or dental insurance for employees receiving public assistance, which health or dental insurance coverage, if less than the coverage provided through medicaid, shall be supplemented by medicaid to provide full medicaid benefits to the employee;
(c)
The provision of job training or basic education of employees receiving public assistance;
(d)
The provision of programs for the transportation of public assistance employees to and from work.
(2)
The tax credit described in subsection (1) of this section shall be in addition to any other credits for which the employer may be eligible pursuant to the provisions of article
30
of this title.
(3)
The credit allowed by this section for any income tax year shall not exceed the employer's actual tax liability for such taxable year. If the amount of the credit allowed by this section exceeds the employer's actual tax liability for any income tax year in which the credit authorized in this section is claimed, such excess shall be a tax credit carryover to each of the three income tax years following the unused credit year and shall be applied first to the earliest income tax years possible.
(4)
This section is repealed, effective December 31, 2032.
Amended by 2024 Ch. 373,§ 13, eff. 8/7/2024.
L. 97: Entire section added, p. 1245, § 52, effective July 1.
2024 Ch. 373, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 5 - SPECIAL RULES (§§ 39-22-501 — 39-22-570) › Section 39-22-523 - [Repealed]

L. 2000: Entire section added, p. 1319, § 2, effective August 2. L. 2010: Entire section repealed, (SB 10-212), ch. 412, p. 2032, §1, effective July 1; entire section repealed, (HB 10-1256), ch. 133, p. 440, §4, effective August 11.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 5 - SPECIAL RULES (§§ 39-22-501 — 39-22-570) › Section 39-22-524 - [Repealed]

L. 2000: Entire section added, p. 1473, § 2, effective May 31. L. 2001: (4) amended, p. 413, § 3, effective April 19; (5) amended, p. 396, § 7, effective August 8. L. 2002: (7)(a) amended, p. 863, § 6, effective August 7. L. 2010: (10) amended, (SB 10-212), ch. 412, p. 2035, §9, effective July 1.
Subsection (10) provided for the repeal of this section, effective July 1, 2010. (See L. 2010, p. 2035.)
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 5 - SPECIAL RULES (§§ 39-22-501 — 39-22-570) › Section 39-22-525 - [Repealed]

L. 2000: Entire section added, p. 1438, § 1, effective May 31. L. 2002: (1), (4)(a), and (4)(c)(I) amended, p. 227, § 1, effective April 5. L. 2007: Entire section repealed, p. 27, § 1, effective August 3; entire section repealed, p. 58, § 2, effective August 3.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 5 - SPECIAL RULES (§§ 39-22-501 — 39-22-570) › Section 39-22-527 - [Repealed]

L. 2001: Entire section added, p. 628, § 3, effective May 30. L. 2010: Entire section repealed, (SB 10-212), ch. 412, p. 2032, §1, effective July 1.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 5 - SPECIAL RULES (§§ 39-22-501 — 39-22-570) › Section 39-22-528 - [Repealed]

L. 2001: Entire section added, p. 628, § 3, effective May 30. L. 2010: Entire section repealed, (SB 10-212), ch. 412, p. 2032, §1, effective July 1.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 5 - SPECIAL RULES (§§ 39-22-501 — 39-22-570) › Section 39-22-529 - Business expense deduction - labor services - unauthorized alien - definitions

(1)
As used in this section, unless the context otherwise requires:
(a)
"Labor services" means the physical performance of services in this state.
(b)
"Unauthorized alien" shall have the same meaning as set forth in
8 U.S.C. sec. 1324a(h)(3)
, as amended.
(2)
On or after January 1, 2008, no wages or remuneration for labor services paid to an unauthorized alien of six hundred dollars or more in a year shall be claimed as a deductible business expense for state income tax purposes by a taxpayer who, at the time the taxpayer hired the unauthorized alien, knew of the unauthorized status of the alien. The provisions of this subsection (2) shall apply regardless of whether an internal revenue service form 1099-MISC is issued in conjunction with the wages or remuneration.
(3)
This section shall not apply to:
(a)
Any business domiciled in the state that is exempt from compliance with federal employment verification procedures under federal law that makes the employment of unauthorized aliens unlawful;
(b)
Any individual hired by the taxpayer before December 31, 2006;
(c)
Any taxpayer where the individual being paid is not directly compensated or employed by the taxpayer; or
(d)
Wages or remuneration paid for labor services to any individual who holds and presents to the taxpayer a valid license or identification card issued by the department of revenue.
(4)
The executive director is authorized to prescribe forms and promulgate rules that are necessary to administer this section.
Referred 2006: Entire section added, L. 2006, 1st Ex. Sess., p. 2, § 3, effective December 31.
This section was enacted by House Bill 06S-1020 at the first extraordinary session of the sixty-fifth general assembly. That bill contained a referendum clause and was approved by a vote of the registered electors of the state of Colorado on November 7, 2006. This section was effective upon proclamation of the governor, December 31, 2006. The vote count for the measure was as follows:
FOR:744,475
AGAINST:722,651
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 5 - SPECIAL RULES (§§ 39-22-501 — 39-22-570) › Section 39-22-530 - [Repealed]

Repealed by 2023 Ch. 437,§ 3, eff. 8/7/2023.
L. 2008: Entire section added, p. 2203, § 1, effective August 5. L. 2009: (1)(b) amended, (SB 09 -044), ch. 57, p. 210, § 19, effective March 25; (5)(a) amended, (SB 09 -228), ch. 410, p. 2265, § 20, effective July 1. L. 2013: (1)(b) and (1)(c) amended, (HB 13-1314), ch. 323, p. 1813, § 55, effective 3/1/2014.
2023 Ch. 437, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 5 - SPECIAL RULES (§§ 39-22-501 — 39-22-570) › Section 39-22-534 - [Repealed]

Repealed by 2020 Ch. 89,§2, eff. 9/14/2020.
Amended by 2018 Ch. 274,§81, eff. 5/29/2018.
L. 2012: Entire section added, (HB 12-1042), ch. 771, p. 771, § 2, effective August 8. L. 2018: (4)(b) amended, (HB 18-1375), ch. 1722, p. 1722, § 81, effective May 29. L. 2020: Entire section repealed, (HB 20-1176), ch. 358, p. 358, § 2, effective September 14.
Section 5(2) of chapter 89 (HB 20-1176), Session Laws of Colorado 2020, provides that the act repealing this section applies to income tax years on or after September 14, 2020.
For the legislative declaration in the 2012 act adding this section, see section 1 of chapter 193, Session Laws of Colorado 2012.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 5 - SPECIAL RULES (§§ 39-22-501 — 39-22-570) › Section 39-22-535 - [Effective Until 8/7/2024] Credit for purchase of uniquely valuable motor vehicle registration numbers

(1)
For tax years commencing on or after January 1, 2013, a person who buys the right to use a registration number under section 8-88-206 is allowed a credit against the income taxes imposed by this article 22 for twenty percent of the purchase price of the right to use the registration number that is paid to the Colorado disability funding committee created in section 8-88-202.
(2)
If the credit allowed by this section exceeds the tax otherwise due, the taxpayer may carry it forward for up to five years but shall claim it on the earliest possible subsequent tax return.
Amended by 2024 Ch. 324,§ 10, eff. 7/1/2024.
Amended by 2022 Ch. 378, § 7, eff. 8/10/2022.
Amended by 2019 Ch. 390, § 56, eff. 8/2/2019.
L. 2013: Entire section added, (SB 13-170), ch. 254, p. 1347, § 4, effective May 23.
2022 Ch. 378, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 5 - SPECIAL RULES (§§ 39-22-501 — 39-22-570) › Section 39-22-535 - [Effective 8/7/2024] Credit for purchase of uniquely valuable motor vehicle registration numbers - repeal

(1)
For tax years commencing on or after January 1, 2013, and prior to January 1, 2025, a person who buys the right to use a registration number under section
24-30-2206
is allowed a credit against the income taxes imposed by this article 22 for twenty percent of the purchase price of the right to use the registration number that is paid to the Colorado disability funding committee created in section
24-30-2203
.
(2)
If the credit allowed by this section exceeds the tax otherwise due, the taxpayer may carry it forward for up to five years but shall claim it on the earliest possible subsequent tax return.
(3)
This section is repealed, effective December 31, 2034.
Amended by 2024 Ch. 373,§ 14, eff. 8/7/2024.
Amended by 2024 Ch. 324,§ 10, eff. 7/1/2024.
Amended by 2022 Ch. 378, § 7, eff. 8/10/2022.
Amended by 2019 Ch. 390, § 56, eff. 8/2/2019.
L. 2013: Entire section added, (SB 13-170), ch. 254, p. 1347, § 4, effective May 23.
2024 Ch. 373, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2022 Ch. 378, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
This section is set out more than once due to postponed, multiple, or conflicting amendments.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 5 - SPECIAL RULES (§§ 39-22-501 — 39-22-570) › Section 39-22-537 - [Repealed]

Amended by 2018 Ch. 274,§82, eff. 5/29/2018.
L. 2014: Entire section added, (HB 14-1279), ch. 340, p. 1513, § 1, effective August 6. L. 2017: IP(3)(a) and (6) amended, (SB 17-267), ch. 267, p. 1468, § 25, effective May 30. L. 2018: (2)(b) amended, (HB 18-1375), ch. 274, p. 1722, § 82, effective May 29.
Subsection (6) provided for the repeal of this section, effective July 1, 2021. (See L. 2017, p. 1468.)
For the legislative declaration in SB 17-267, see section 1 of chapter 267, Session Laws of Colorado 2017.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 5 - SPECIAL RULES (§§ 39-22-501 — 39-22-570) › Section 39-22-537.5 - Credit for personal property taxes paid - legislative declaration - definitions - repeal

(1)
The general assembly declares that the purpose of the tax expenditure in this section is to minimize the negative impact of the business personal property tax on businesses.
(2)
As used in this section, unless the context otherwise requires:
(a)
"Property tax" means the ad valorem tax imposed pursuant to section 3 of article X of the state constitution but does not include public utilities assessed pursuant to section
39-4-102
, and does not include the graduated annual specific ownership tax imposed pursuant to section 6 of article X of the state constitution.
(b)
"Taxpayer" includes an organization exempt from federal taxation pursuant to section 501 (c) of the internal revenue code.
(3)
(a)
For income tax years commencing on or after January 1, 2019, a taxpayer is allowed a credit against the tax imposed by this article 22 equal to the property tax paid in Colorado during the income tax year on up to eighteen thousand dollars of the total actual value of the taxpayer's personal property.
(b)
A taxpayer may not claim a tax credit under this section for the payment of delinquent property taxes that were owed for a prior property tax year.
(c)
The amount of the credit under this section that exceeds the taxpayer's income taxes due is refunded to the taxpayer.
(4)
To claim a credit under this section, a taxpayer must submit to the department of revenue a copy of a property tax statement described in section
39-10-103
for all of the taxpayer's personal property for the property tax year for which the credit is claimed.
L. 2017: Entire section added, (SB 17-267), ch. 267, p. 1469, § 26, effective May 30.
For the legislative declaration in SB 17-267, see section 1 of chapter 267, Session Laws of Colorado 2017.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-602 - Failure to make return - director may make

(1)
If any person fails or refuses to make any return required by this article, the executive director may make such return for such person from such information as may be available, and any assessment based on such return made by the executive director shall be as good and sufficient as if such return had been made and filed by the person liable therefor.
(2)
If the executive director finds that any nonresident whose name and address were furnished by a county assessor pursuant to section
39-5-102(3)
has not made a return as required by this article, the executive director shall mail notice by first-class mail as set forth in section
39-21-105.5
to the nonresident setting a time within which the return shall be made and may thereafter proceed pursuant to subsection (1) of this section, as necessary.
L. 64: R&RE, p. 783, § 1. C.R.S. 1963: § 138-1-66. L. 69: p. 1132, § 2. L. 96: (2) amended, p. 165, § 6, effective July 1.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-603 - Returns not made under oath

Wherever in this article it is required that a return be made under oath, the signing of the return by the person therein required to make oath shall be sufficient compliance with the provisions of said sections if such return contains or is verified by a written declaration that it is made under the penalties of perjury in the second degree. Any individual who willfully makes and signs a return which he does not believe to be true and correct as to every material matter is guilty of perjury in the second degree.
L. 64: R&RE, p. 784, § 1. C.R.S. 1963: § 138-1-67. L. 72: p. 571, § 58.
For perjury in the second degree and the penalty therefor, see §§ 18-8-503 and 18-1.3-501.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-603.5 - Frivolous returns

(1)
As used in this part 6, unless the context otherwise requires, "frivolous return" means a return filed by any person that purports to be a return of the tax imposed by this article but that:
(a)
Does not contain information on which the substantial correctness of the return may be judged; or
(b)
Contains information that on its face indicates that the return is substantially incorrect; and
(c)
The conduct described in either paragraph (a) or (b) of this subsection (1) is due to either:
(I)
A position that is frivolous; or
(II)
A desire, which appears on the purported return, to delay or impede the administration of state income tax laws.
(2)
(a)
If any person files a frivolous return, the executive director may calculate the person's Colorado taxable income and make an assessment based on such information as is available at the time the return is filed.
(b)
If the tax calculated by the executive director is greater than the amount theretofore assessed or paid, a notice of deficiency shall be mailed to the taxpayer by first-class mail as set forth in section
39-21-105.5
.
L. 2002: Entire section added, p. 530, § 2, effective August 7.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-607 - Estimated tax deposited with treasurer

All moneys remitted as payments of estimated tax shall be deposited daily with the state treasurer and shall be allocated in accordance with the provisions of section
39-22-623
.
L. 64: R&RE, p. 794, § 1. C.R.S. 1963: § 138-1-71.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-608 - Form, place, and date of filing return - extension - electronic filing

(1)
All returns required by this article shall be made as nearly as practicable in the same form as the corresponding form of income tax return required by the United States.
(2)
(a)
Except as provided in subsection (2)(b) of this section, all returns required by section
39-22-601
must be filed in the office of the executive director on or before the fifteenth day of the fourth month following the close of the taxable year.
(b)
For taxable years beginning on and after January 1, 2024, every C corporation subject to taxation under this article 22 shall file the return required by section
39-22-601 (2)
in the office of the executive director on or before the fifteenth day of the fifth month following the close of the taxable year.
(c)
The executive director may grant a reasonable extension of time for filing returns and for paying the tax pursuant to rules prescribed by the executive director.
(3)
Residents who are traveling or temporarily residing outside the United States at the time provided in subsection (2) of this section shall be allowed an automatic extension to and including the fifteenth day of the sixth month following the close of the taxable year in which to file returns.
(4)
Notwithstanding subsection (2) of this section, if the time for electronic filing of a federal income tax return pursuant to the internal revenue code is changed to a date later than the date specified in subsection (2) of this section, the executive director may adopt a rule changing the time for electronic filing of a return required by this article to the same date.
Amended by 2023 Ch. 290,§ 3, eff. 8/7/2023.
L. 64: R&RE, p. 794, § 1. C.R.S. 1963: § 138-1-72. L. 71: p. 1256, § 1. L. 89: (2) amended, p. 1502, § 7, effective 7/1/1990. L. 2003: (4) added, p. 752, § 1, effective March 25.
2023 Ch. 290, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-609 - Payment of tax - applicable when

(1)
All taxes imposed under the provisions of this article shall be paid on the fifteenth day of the fourth month following the close of the taxable year; but the executive director may grant any taxpayer, upon application therefor, an extension of time for the payment of the tax, or any portion thereof, with interest to be charged on the unpaid balance at a rate imposed under section
39-21-110.5
for the period of such extension. No extension of time shall be authorized for payment of amounts of tax due upon deficiency assessments, or on amended or delinquent returns.
(2)
Payment of the estimated income tax or any installment thereof shall be considered payment on account of the income taxes imposed by this article.
L. 64: R&RE, p. 795, § 1. C.R.S. 1963: § 138-1-73. L. 81: (1) amended, p. 1865, § 8, effective June 8.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-610 - Relief for members of the armed forces of the United States - when

(1)
The period of time commencing with the declaration of war by congress and ending twelve months after the termination of any such declared war during which an individual is a member of the armed forces of the United States, shall be disregarded in determining, under the provisions of this article, any income tax liability, including any interest, penalty, or additional tax, of any such individual, whether any act required of or permitted by such individual or the state of Colorado, in respect to the income tax liability, was performed within the time prescribed therefor; but this section shall not revive any right or liability previously barred by law.
(2)
The period of time during which an individual is serving in the armed forces of the United States or in support thereof in an area designated by presidential order as a combat zone, and a period of one hundred eighty days after such service, shall be disregarded in determining under the provisions of this article any income tax liability, including any interest, penalty, or additional tax, of any such individual, whether any act required of or permitted by such individual or the state of Colorado, in respect to such income tax liability, was performed within the time prescribed therefor.
L. 64: R&RE, p. 795, § 1. C.R.S. 1963: § 138-1-74. L. 71: p. 1256, § 2.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-611 - Property exempt from ad valorem taxes

Notwithstanding any other provisions of law, all intangible personal property, whether or not owned by a resident of Colorado, and whether or not such property or evidence thereof is situated or held or has its legal situs within the state, shall be exempt from ad valorem tax imposed by the state of Colorado, or by any political subdivision thereof; but nothing in this section shall be construed to repeal, or in any way affect, the use or inclusion of intangible property other than licenses granted by the federal communications commission to a wireless carrier, as defined in section
29-11-101
, C.R.S., as a factor in arriving at the valuation of public utility property assessed by the property tax administrator under provisions of articles
1
to
13
of this title.
L. 64: R&RE, p. 795, § 1. C.R.S. 1963: § 138-1-75. L. 98: Entire section amended, p. 1267, § 2, effective June 1. L. 2004: Entire section amended, p. 1209, § 92, effective August 4. L. 2008: Entire section amended, p. 685, § 6, effective August 5.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-612 - [Repealed]

L. 64: R&RE, p. 795, § 1. C.R.S. 1963: § 138-1-76. L. 77: Entire section repealed, p. 1779, § 2, effective July 1.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-613 - [Repealed]

L. 64: R&RE, p. 796, § 1. C.R.S. 1963: § 138-1-77. L. 77: Entire section repealed, p. 1779, § 2, effective July 1.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-614 - [Repealed]

L. 64: R&RE, p. 796, § 1. C.R.S. 1963: § 138-1-78. L. 77: Entire section repealed, p. 1779, § 2, effective July 1.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-615 - [Repealed]

L. 64: R&RE, p. 796, § 1. C.R.S. 1963: § 138-1-79. L. 77: Entire section repealed, p. 1779, § 2, effective July 1.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-616 - [Repealed]

L. 64: R&RE, p. 797, § 1. C.R.S. 1963: § 138-1-80. L. 77: Entire section repealed, p. 1779, § 2, effective July 1.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-617 - [Repealed]

L. 64: R&RE, p. 797, § 1. C.R.S. 1963: § 138-1-81. L. 77: Entire section repealed, p. 1779, § 2, effective July 1.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-618 - [Repealed]

L. 64: R&RE, p. 797, § 1. C.R.S. 1963: § 138-1-82. L. 77: Entire section repealed, p. 1779, § 2, effective July 1.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-619 - [Repealed]

L. 64: R&RE, p. 797, § 1. C.R.S. 1963: § 138-1-83. L. 77: Entire section repealed, p. 1779, § 2, effective July 1.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-620 - [Repealed]

L. 64: R&RE, p. 798, § 1. C.R.S. 1963: § 138-1-84. L. 77: Entire section repealed, p. 1779, § 2, effective July 1.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-624 - Prior rights and liabilities not affected

Nothing in this article shall be construed to affect any right, duty, or liability arising under statutes in effect immediately prior to January 1, 1965, but the same shall be continued and concluded under such prior statutes. Nothing in this article shall revive or reinstate any right or liability previously barred by statute.
L. 64: R&RE, p. 810, § 1. C.R.S. 1963: § 138-1-96.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-625 - Application of article - effective date

This article shall apply only with respect to taxable years beginning after December 31, 1964, and became effective on January 1, 1965.
L. 64: R&RE, p. 810, § 1. C.R.S. 1963: § 138-1-97.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-626 - Applicability of amendments to this article to income tax years

For purposes of determining the applicability of any addition to, modification of, or deletion from this article, an income tax year which varies from a fifty-two to a fifty-three week period shall be deemed to have commenced on the first day of the calendar month beginning nearest to the first day of the fifty-two or fifty-three week year.
L. 79: Entire section added, p. 1446, § 36, effective July 3.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-628 - Direct deposit of refund to collegeinvest savings accounts - modification of individual income tax return forms - legislative declaration - definition

(1)
In addition to the rationale for creation of the college savings program set forth in section
23-3.1-301
, C.R.S., the general assembly hereby finds, determines, and declares that it is in the best interest of Colorado citizens to provide them the option of making direct deposits to collegeinvest savings accounts through the Colorado state individual income tax return form.
(2)
(a)
For Colorado state individual income tax return forms used for tax years beginning on and after January 1, 2013, each such form must allow an individual taxpayer who is owed a refund the option of making a direct deposit to a collegeinvest savings account.
(b)
Each form must permit the direct deposit to only a single collegeinvest savings account.
(3)
The department of revenue shall collaborate with the department of higher education to:
(a)
Modify the state individual income tax return form to enable an individual taxpayer to make a direct deposit of his or her refund to a collegeinvest savings account; and
(b)
Include, in the portion of the form allowing direct deposit to a collegeinvest savings account, information or a means to obtain information describing collegeinvest savings accounts and how to establish such an account.
(4)
As used in this section, "colleginvest savings account" means an account established pursuant to part 3 of article
3.1
of title
23
, C.R.S.
L. 2013: Entire section added, (SB 13-206), ch. 345, p. 2006, § 1, effective May 28.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 1 - GENERAL (§§ 39-22-601 — 39-22-630) › Section 39-22-630 - [Effective 8/7/2024] Charitable contributions made through qualified intermediaries - eligibility for income tax credits maintained - definitions

(1)
For income tax years commencing on or after January 1, 2024, a taxpayer may claim a credit for making a contribution to a qualified intermediary to the same extent that the taxpayer could claim a credit for making the contribution directly to a recipient organization so long as the recipient organization is approved or certified, to the extent required and in accordance with the process required by the law authorizing the credit, as meeting the criteria required to receive such a direct contribution. Nothing in this subsection (1) modifies or eliminates any obligation of a recipient organization, as set forth in a state law, rule, or agency guideline, to issue tax credit certificates, collect information from donors, provide information to the department of revenue or any other state agency, or take any other action necessary for the proper administration of a credit.
(2)
As used in this section:
(a)
"Credit" means any credit against the taxes imposed pursuant to this article 22 or article 30 of this title that is authorized by law.
(b)
"Qualified intermediary" means an organization that has attained tax exempt status under section 501 (c)(3) of the internal revenue code if the organization is obligated, except when exercising variance power as required or authorized by law or federal regulations, to disburse contributions received from a taxpayer to a recipient organization as directed by the taxpayer.
(c)
"Recipient organization" means an organization that has attained tax exempt status under section 501 (c)(3) of the internal revenue code and includes any program or project of the organization to which a taxpayer may make a contribution for which the taxpayer may claim a credit.
Added by 2024 Ch. 476,§ 2, eff. 8/7/2024.
2024 Ch. 476, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 2 - REPORTABLE TRANSACTIONS (§§ 39-22-651 — 39-22-659) › Section 39-22-651 - Short title - citation

This subpart 2 shall be comprised of sections
39-22-651
to
39-22-659
and may be cited as subpart 2. This subpart 2 shall be known and may be cited as the "Colorado Reportable Transactions Act".
L. 2009: Entire section added, (HB 09 -1 09 3), ch. 75, p. 271, § 4, effective April 2.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 2 - REPORTABLE TRANSACTIONS (§§ 39-22-651 — 39-22-659) › Section 39-22-652 - Definitions

For purposes of this subpart 2, unless the context otherwise requires:
(1)
"Colorado combined group" means a group of affiliated C corporations required or allowed to file a combined report pursuant to section
39-22-303
.
(2)
"Department" means the department of revenue.
(3)
"Income tax" means a tax imposed under this article.
(4)
"Income tax return" means a return filed under section
39-22-601
.
(5)
"Listed transaction" means a transaction that is:
(a)
The same as, or substantially similar to, a transaction or arrangement specifically identified as a listed transaction by the United States secretary of the treasury in written materials interpreting the requirements of section 6011 of the internal revenue code;
(b)
A transaction between a captive real estate investment trust as defined in section
39-22-503 (2)
and its more than fifty percent beneficial owner as described in section
39-22-503 (2)(a)
; or
(c)
A transaction between a captive regulated investment company as defined in section
39-22-501 (2)
and its more than fifty percent beneficial owner as described in section
39-22-501 (2)(a)
.
(6)
"Material advisor" shall have the same meaning as set forth in section 6111 of the internal revenue code.
(7)
"Reportable transaction" means any transaction or arrangement that is the same as any transaction or arrangement described in
26 CFR 1.6011-4 (b)(2) to (b)(6)
but shall not include any transactions specifically excluded by the internal revenue service.
L. 2009: Entire section added, (HB 09 -1 09 3), ch. 75, p. 271, § 4, effective April 2.
2023 Colorado Revised Statutes › Title 39 - TAXATION (§§ 39-1-101 — 39-37-301) › SPECIFIC TAXES (§§ 39-20-101 — 39-37-301) › INCOME TAX (§§ 39-22-101 — 39-22-5508) › Article 22 - Income Tax (§§ 39-22-101 — 39-22-5508) › Part 6 - PROCEDURE AND ADMINISTRATION (§§ 39-22-601 — 39-22-659) › Subpart 2 - REPORTABLE TRANSACTIONS (§§ 39-22-651 — 39-22-659) › Section 39-22-654 - Additional listed transactions - report

(1)
The department shall submit a report to the finance committees of the senate and house of representatives, or any successor committees, by January 31, 2010, and on or before every January 31 thereafter, its recommendation for the inclusion of any additional listed transactions for purposes of this subpart 2.
(2)
The department shall consult with any interested parties prior to the submission of the report as specified in subsection (1) of this section.
L. 2009: Entire section added, (HB 09-1093), ch. 75, p. 273, §4, effective April 2.