This subpart 1 shall be comprised of sections 39-22-300.1 to 39-22-310 and may be cited as subpart 1. This subpart 1 shall be known and may be cited as the “Colorado C Corporation Income Tax Act”. Source: L. 92: Entire section added, p. 2266, § 6, effective April 16.
For income tax years commencing on or after January 1, 1983, but before July 1, 1986, a tax is imposed upon each domestic C corporation and foreign C corporation doing business in Colorado annually in an amount equal to five percent of the net income of such C corporation during the year derived from sources […]
An S corporation shall not be subject to taxation under this article. Source: L. 64: R&RE, p. 768, § 1. C.R.S. 1963: § 138-1-36. L. 92: Entire section amended, p. 2265, § 3, effective April 16.
(Deleted by amendment, L. 2008, p. 955 , § 7, effective January 1, 2009.) (Deleted by amendment, L. 2008, p. 955 , § 7, effective January 1, 2009.) (Deleted by amendment, L. 2008, p. 955 , § 7, effective January 1, 2009.) (Deleted by amendment, L. 2008, p. 955 , § 7, effective January 1, […]
On or before June 1, 1997, the executive director shall promulgate regulations to ensure nondiscriminatory tax treatment of financial organizations engaged in interstate banking or interstate branching and, in connection therewith, shall consider: Any recommendations of the multistate tax commission established under the provisions of section 24-60-1301, C.R.S., regarding the taxation and allocation of income […]
As used in this section, unless the context otherwise requires: “Business income” means the net income of the taxpayer arising from the transactions and activity in the regular course of a taxpayer’s trade or business and includes income from tangible and intangible property if the acquisition, management, and disposition of the property constitute integral parts […]
As used in this section, unless the context otherwise requires: “Apportionable income” means: Any income that would be allocable to this state under the United States constitution, but that is apportioned rather than allocated pursuant to the laws of this state; and All income that is apportionable under the United States constitution and is not […]
As used in this section, unless the context otherwise requires: “Administration services” includes, but is not limited to, clerical, fund, or shareholder accounting and participant record keeping, transfer agency, bookkeeping, data processing, custodial, internal auditing, legal, and tax services performed for a regulated investment company. Services qualify as “administrative services” only if the provider of […]
As used in this section, unless the context otherwise requires: “Capital investment” means the: Purchase and construction of real estate; or Purchase and deployment of capital equipment, machines, building systems, infrastructure, or other depreciable assets, including capital leases. “Enterprise data center operation” means a business that: Physically houses information technology equipment such as servers, switches, […]
The net income of a C corporation means the C corporation’s federal taxable income, as defined in the internal revenue code, for the taxable year, with the modifications specified in this section. For income tax years commencing on or after January 1, 2022, in the case of a C corporation that is not incorporated in […]
An affiliated group of C corporations, as defined in section 1504 of the internal revenue code, may elect to make a consolidated return with respect to the corporate income tax imposed by section 39-22-301 (1) for the taxable year in lieu of separate returns. The making of a consolidated return shall be upon the condition […]
The provisions of section 39-22-111 shall apply to C corporations to the extent not inconsistent with sections 39-22-301 to 39-22-305. Source: L. 64: R&RE, p. 771, § 1. C.R.S. 1963: § 138-1-40. L. 87: Entire section amended, p. 1444, § 11, effective June 22. L. 92: Entire section amended, p. 2273, § 12, effective April […]
For income tax years commencing on or after January 1, 1981, there shall be allowed, as a credit against any taxes imposed by this part 3 on income derived from a new mining, milling, or mining and milling operation or expansion of an existing mining, milling, or mining and milling operation, an amount equal to […]
For income tax years commencing on or after January 1, 1989, but prior to January 1, 2005, there shall be allowed, as a credit against any taxes imposed on income by this part 3, an amount equal to one dollar per ton for each ton of Colorado coal purchased by and delivered to the taxpayer […]
It is the intent of the general assembly that, in interpreting or construing the provisions of this part 3, statutes shall be given the strongest weight, then rules and regulations, and then the administrative interpretation or construction of said provisions by the executive director or the department of revenue; the administrative interpretation shall be given […]
This subpart 2 shall be comprised of sections 39-22-320 to 39-22-330 and may be cited as subpart 2. This subpart 2 shall be known and may be cited as the “Colorado S Corporation Income Tax Act”. Source: L. 92: Entire section added, p. 2260, § 1, effective April 16.
For the purposes of this subpart 2, unless the context otherwise requires: “Income attributable to the state” means items of income, loss, deduction, or credit of the S corporation apportioned or allocated to this state pursuant to section 39-22-303.5, 39-22-303.6, or 39-22-303.7. “Income not attributable to the state” means all items of income, loss, deduction, […]
An S corporation shall not be subject to the tax imposed by this article. For the purposes of section 39-22-104, each shareholder’s pro rata share of the S corporation’s income attributable to the state and each resident shareholder’s pro rata share of the S corporation’s income not attributable to the state, all as modified pursuant […]
An S corporation’s income attributable to the state shall, for the purposes of section 39-22-322, be subject to the modifications provided in section 39-22-304. Each resident shareholder’s pro rata share of the S corporation’s income not attributable to the state shall, for the purposes of section 39-22-322 (2), be subject to the modifications provided in […]
The basis in the hands of a shareholder of an S corporation in the stock of the S corporation and any indebtedness of the S corporation to the shareholder shall be determined in the manner provided under the internal revenue code. Source: L. 92: Entire section added, p. 2261, § 1, effective April 16.
