§ 39-29-110. Local Government Severance Tax Fund – Creation – Administration – Definitions – Repeal
There is created in the department of local affairs a local government severance tax fund. In accordance with section 39-29-108 , portions of the state severance tax receipts must be credited to the local government severance tax fund. All income derived from the deposit and investment of the money in the local government severance tax […]
§ 39-29-111. Withholding of Income From Oil and Gas Interest – Definition
Every producer or purchaser who disburses funds that are owed to any person owning a working interest, a royalty interest, a production payment, or any other interest in any oil or gas produced in Colorado shall, unless such production is exempt under section 39-29-105 (1) and the producer or purchaser has registered such exempt production […]
§ 39-29-112. Procedures and Reports
Except as set forth in subsections (6) and (7) of this section, every person subject to taxation under the provisions of this article shall make an annual return to the department of revenue, separate and apart from other returns required to be made under the provisions of articles 20 to 28 of this title, upon […]
§ 39-29-113. Exemption Prohibited – When
If any person likely to be liable for taxes imposed pursuant to the provisions of this article transfers all or part of his property to another person controlled, directly or indirectly, by the transferor before or after the transfer, the executive director may disallow to the transferee any exemption from tax otherwise authorized pursuant to […]
§ 39-29-114. Component Members of a Controlled Group Treated as One Taxpayer
For the purposes of this article, persons who are members of the same controlled group of corporations shall be treated as one taxpayer. If fifty percent or more of the beneficial interest in two or more corporations, trusts, or estates is owned by the same or related persons (taking into account only persons who own […]
§ 39-29-115. Penalties and Interest
Any person who fails to file a report or to pay the tax due thereon shall pay a penalty of thirty percent of the tax assessed or thirty dollars, whichever is greater, and the interest due under the provisions of section 39-21-110.5. (1.5) Any person who fails to withhold income and make a payment required […]
§ 39-29-116. Uranium Mill Tailings Remedial Action Program Fund – Creation – Oversight Committee – Repeal
The general assembly hereby declares that the purpose of creating the uranium mill tailings remedial action program fund is to provide a funding source to match federal funds available under the federal “Uranium Mill Tailings Radiation Control Act of 1978”, 42 U.S.C. 7901 et seq., for the purpose of cleaning up certain sites designated in […]
§ 39-29-109. Severance Tax Trust Fund – Created – Administration – Distribution of Money – Legislative Declaration – Repeal
There is hereby created in the state treasury the severance tax trust fund, also referred to in this section as the “fund”, which the department of natural resources shall administer. The fund is to be perpetual and held in trust as a replacement for depleted natural resources, for the development and conservation of the state’s […]
§ 39-29-109.3. Severance Tax Operational Fund – Core Reserve – Grant Program Reserve – Definitions – Repeal
The executive director of the department of natural resources shall submit with the department’s budget request for each fiscal year a list and description of the programs the executive director recommends to be funded from the severance tax operational fund created in section 39-29-109 (2)(b), referred to in this section as the “operational fund”. The […]
§ 39-29-101. Legislative Declaration
The general assembly hereby finds and declares that, when nonrenewable natural resources are removed from the earth, the value of such resources to the state of Colorado is irretrievably lost. Therefore, it is the intent of the general assembly to recapture a portion of this lost wealth through a special excise tax, in addition to […]