§ 39-23.5-101. Short Title
This article shall be known and may be cited as the “Colorado Estate Tax Law”. Source: L. 79: Entire article added, p. 1431, § 16, effective July 3.
§ 39-23.5-102. Definitions
As used in this article, unless the context otherwise requires: “Alien” means a decedent who, at the time of the decedent’s death, was not domiciled in Colorado or any other state of the United States and was not a citizen of the United States. “Colorado return” means the Colorado estate tax return with respect to […]
§ 39-23.5-103. Tax on Transfer of Gross Estate of Domiciliaries – Amount – Credit – Property of a Domiciliary Defined
A tax in the amount of the federal credit is imposed on the transfer of the gross estate of every domiciliary. For Colorado estate tax purposes, no credit for taxes is allowable in determining such federal credit other than the unified credit. If any property of a domiciliary is subject to a death tax imposed […]
§ 39-23.5-104. Tax on Transfer of Gross Estate of Nondomiciliaries – Amount – Property of a Nondomiciliary Defined
A tax in an amount determined as provided in this section is imposed on the transfer of the gross estate located in Colorado of every nondomiciliary. The tax shall be an amount determined by multiplying the federal credit by a fraction, the numerator of which is the value of the property located in Colorado which […]
§ 39-23.5-105. Tax Upon Transfer of Gross Estate of Aliens – Amount – Property of Alien Defined
A tax in an amount determined as provided in this section is imposed on the transfer of the gross estate located in Colorado of every alien. The tax shall be an amount determined by multiplying the federal credit by a fraction, the numerator of which is the value of the property located in Colorado which […]
§ 39-23.5-106. Tax on Generation-Skipping Transfer – Amount – Property Included in Generation-Skipping Transfer
A tax in an amount determined as provided in this section is imposed on every generation-skipping transfer. The tax shall be an amount determined by multiplying the maximum amount allowable under section 2604 of the internal revenue code by a fraction, the numerator of which is the value of the property located in Colorado included […]
§ 39-23.5-107. Tax Returns – Date to Be Filed – Extension
With respect to every gross estate or generation-skipping transfer, the person required to file a federal return shall file with the department on or before the date the federal return is required to be filed: A Colorado return for the tax due under this article; and A true copy of the federal return. If the […]
§ 39-23.5-108. Payment Date – Extension – Installment
The tax due under this section shall be paid to the department by the person required to file not later than the date the Colorado return is required to be filed under section 39-23.5-107. If the person required to file has obtained an extension of time for payment of the federal tax or has elected […]
§ 39-23.5-109. Interest
Any tax due under this article which is not paid within nine months after the date of the decedent’s death or the generation-skipping transfer shall bear interest on the unpaid balance due at the rate prescribed by section 39-21-110.5 from nine months after such death or transfer until such tax is paid. The interest imposed […]
§ 39-23.5-110. Penalty
If any person fails to pay any tax by the date due under the provisions of this article, there shall be collected as a penalty for such failure the greater of the sum of fifteen dollars or five percent of the amount of such tax if the failure is for not more than one month, […]
§ 39-23.5-111. Amended Returns – Final Determination
If the person required to file files an amended federal return, he shall immediately file with the department an amended Colorado return and a true copy of the amended federal return. If the person required to file is required to pay an additional tax under this article pursuant to such amended return, he shall pay […]
§ 39-23.5-112. Refund for Overpayment
Whenever the department determines that the tax due under this article has been overpaid, the department is authorized to refund the amount of the overpayment, together with interest at the rate prescribed by section 39-21-110.5 from the date of the overpayment or from nine months after the date of the decedent’s death or the generation-skipping […]
§ 39-23.5-113. Criminal Acts Relating to Returns
Any person who willfully fails to file a Colorado return when required by this article, or who willfully files a false return, or who willfully fails to pay any tax required by this article shall be punished as provided by section 39-21-118. Source: L. 79: Entire article added, p. 1435, § 16, effective July 3. […]
§ 39-23.5-114. Liability for Payment
The tax imposed by this article shall be paid by the person required to file. No person required to file shall be liable for a sum greater than the value of the property actually received by him. If the tax imposed by this article is not paid when due, the spouse, qualified heir, distributee, transferee, […]
§ 39-23.5-115. Administration by Department – Action for Collection of Tax – Appeals – Limitations
The department is charged with the administration and enforcement of this article and may promulgate such rules and regulations under the “State Administrative Procedure Act”, article 4 of title 24, C.R.S., as may be required to effectuate the purposes of this article. The department is authorized to collect the tax provided for in this article, […]
§ 39-23.5-116. Deposit of Moneys Collected – Legislative Finding
In order to provide revenue for the old age pension fund created and established by article XXIV of the state constitution in an amount at least equal to that presently provided by the inheritance tax laws of this state, which laws shall not apply to estates of decedents dying on or after January 1, 1980, […]
§ 39-23.5-117. Estate Tax – Effective Date – Applicability
This article shall take effect January 1, 1980, and shall apply to the estates of decedents dying on or after said date. Source: L. 79: Entire article added, p. 1436, § 16, effective July 3. L. 2002: Entire section amended, p. 1359, § 3, effective July 1.