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 1 - GENERAL (§§ 39-22-101 — 39-22-130) › Section 39-22-119 - [Effective Until 8/7/2024] Expenses related to child care - credits against state tax

(1)
(a)
For income tax years beginning on and after January 1, 1996, but before January 1, 2019, if a resident individual claims a credit for child care expenses on the individual's federal tax return, the individual shall be allowed a child care expenses credit against the income taxes due on the individual's income under this article 22 calculated as follows:
(I)
If the resident individual's federal adjusted gross income is twenty-five thousand dollars or less, the credit shall be in an amount equal to fifty percent of the credit for child care expenses claimed on the resident individual's federal tax return.
(II)
If the resident individual's federal adjusted gross income is between twenty-five thousand one dollars and thirty-five thousand dollars, the credit shall be in an amount equal to thirty percent of the credit for child care expenses claimed on the resident individual's federal tax return.
(III)
If the resident individual's federal adjusted gross income is between thirty-five thousand one dollars and sixty thousand dollars, the credit shall be in an amount equal to ten percent of the credit for child care expenses claimed on the resident individual's federal tax return.
(b)
If the resident individual's federal adjusted gross income is sixty thousand one dollars or more, the resident individual shall not be allowed a credit under this subsection (1).
(1.5)
Repealed.
(1.7)
For income tax years beginning on and after January 1, 2019, if a resident individual's federal adjusted gross income is less than or equal to sixty thousand dollars and the individual claims a credit for child care expenses on the individual's federal tax return, then the individual is allowed a child care expenses credit against the income taxes due on the individual's income under this article 22. The amount of the credit is an amount equal to fifty percent of the credit for child care expenses claimed on the individual's federal tax return.
(2)
If the credits allowed under subsections (1) and (1.7) of this section exceed the income taxes due on the resident individual's income, the amount of the credits not used to offset income taxes shall not be carried forward as tax credits against the resident individual's subsequent years' income tax liability and shall be refunded to the individual.
(3)
The child care expenses credits allowed under subsections (1) and (1.7) of this section shall not be allowed to a resident individual who is receiving child care assistance from the department of early childhood except to the extent of the taxpayer's unreimbursed out-of-pocket expenses that result in a federal credit for child care expenses.
(4)
In the case of a resident for part of a tax year, the credits allowed by this section shall be apportioned in the ratio determined under section
39-22-110 (1)
.
(5) to (9)
Repealed.
Amended by 2022 Ch. 123, § 128, eff. 7/1/2022.
Amended by 2018 Ch. 227, § 1, eff. 8/8/2018.
L. 96: Entire section added, p. 1096, § 1, effective May 30. L. 98: (1.5) added and (2) to (4) amended, p. 1373, § 1, effective June 2. L. 2000: (2) and (3) amended and (5), (6), (7), (8), and (9) added, p. 675, § 1, effective May 23. L. 2010: (1.5), (5), (6), (7), (8), and (9) repealed and (2) and (3) amended, (SB 10-212), ch. 412, pp. 2032, 2035, §§ 1, 8, effective July 1. L. 2018: IP(1)(a), (2), and (3) amended and (1.7) added, (HB 18-1208), ch. 227, p. 1437, § 1, effective August 8.
This section is set out more than once due to postponed, multiple, or conflicting amendments.