C.R.S. Section 39-21-303
Tax profile and expenditure report


(1)

On or before January 1, 2013, and January 1 of every odd-numbered year thereafter, the department shall prepare a tax profile and expenditure report for the state that includes the information set forth in subsection (2) of this section.

(2)

Intentionally left blank —Ed.

(a)

A tax profile and expenditure report must include the following information for each tax expenditure for any tax levied and collected by the state that is administered by the department:

(I)

A citation of the statutory or other legal authority for the tax expenditure;

(II)

The year that the tax expenditure was enacted;

(III)

A description of the tax expenditure;

(IV)

An estimate of the tax expenditure’s effect on revenue for the most recently completed tax or calendar year, as appropriate, for which such information is available;

(V)

The estimate required pursuant to subparagraph (IV) of this paragraph (a) for the tax expenditure that was included in each of the three prior tax profile and expenditure reports, if available; and

(VI)

For a tax expenditure that is subject to the requirement set forth in section 39-21-304, a statement of the intended purpose of the tax expenditure.

(b)

For the state income tax only, the tax profile and expenditure report must include the effect of the tax expenditure by income class. The provisions of this paragraph (b) shall only apply to the extent that the department is capable of accessing the necessary information from its data system.

(c)

The tax profile and expenditure report must include the sum of all estimates required pursuant to subparagraphs (IV) and (V) of paragraph (a) of this subsection (2) for each tax.

(d)

Intentionally left blank —Ed.

(I)

To the extent not otherwise included in the tax profile and expenditure report pursuant to this subsection (2), the report must also include any information that was included in the Colorado tax profile study 2001 for any taxes covered by such study, which includes but is not limited to information related to:

(A)

State and local tax collections;

(B)

Revenues, taxes, incidence, and equity;

(C)

The distribution of state and local taxes among households; and

(D)

Colorado statistics of income.

(II)

The information required pursuant to subparagraph (I) of this paragraph (d) shall be for the most recent tax year for which such information is available.

(3)

Intentionally left blank —Ed.

(a)

The department shall provide a copy of the report to all members of the general assembly in accordance with section 24-1-136 (9), C.R.S.

(b)

No later than February 1, 2013, and February 1 of every odd-numbered year thereafter, the executive director, or his or her designee, shall present the tax profile and expenditure report to the finance committees of the house of representatives and the senate, or any successor committees.

(c)

The department shall make the tax profile and expenditure report available for public inspection and shall publish the report on the department website.

(4)

The reporting requirement set forth in this section is exempt from the provisions of section 24-1-136 (11), C.R.S., and the biennial reporting requirement shall remain in effect until changed by the general assembly acting by bill.

(5)

To the extent that the tax profile and expenditure report must include the distribution of tax burden by income class pursuant to paragraphs (b) and (d) of subsection (2) of this section, the department shall use at least as many income classes as the Colorado statistics of income in the Colorado tax profile study 2001, and the highest income class shall be at least as high as in such Colorado statistics of income.

(6)

Repealed.

Source: Section 39-21-303 — Tax profile and expenditure report, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-39.­pdf (accessed Oct. 20, 2023).

39‑21‑101
Definitions
39‑21‑102
Scope
39‑21‑103
Hearings
39‑21‑104
Rejection of claims
39‑21‑104.5
Frivolous submissions
39‑21‑105
Appeals
39‑21‑105.5
Notice - first-class mail - definition
39‑21‑106
Compromise
39‑21‑107
Limitations
39‑21‑108
Refunds
39‑21‑109
Interest on underpayment, nonpayment, or extensions of time for payment of tax
39‑21‑110
Interest on overpayments - repeal
39‑21‑110.5
Rate of interest to be fixed
39‑21‑111
Jeopardy assessment and demands
39‑21‑112
Duties and powers of executive director
39‑21‑113
Reports and returns - rule - repeal
39‑21‑114
Methods of enforcing collection
39‑21‑114.5
Surrender of property subject to levy - definition
39‑21‑115
Reciprocity with other states for collection of taxes provided
39‑21‑116
Closing agreements
39‑21‑116.5
Penalties - repeal
39‑21‑117
Saving clause
39‑21‑118
Criminal penalties - repeal
39‑21‑119
Filing with executive director - when deemed to have been made
39‑21‑119.5
Mandatory electronic filing of returns - mandatory electronic payment - penalty - waiver - definitions
39‑21‑120
Signature and filing alternatives for tax returns
39‑21‑121
Unclaimed property offset - definition
39‑21‑201
Program established
39‑21‑301
Legislative declaration
39‑21‑302
Definitions
39‑21‑303
Tax profile and expenditure report
39‑21‑304
Tax expenditure - tax preference performance statement - tax expenditure repeal requirement
39‑21‑305
Tax expenditure - state auditor evaluation
39‑21‑401
Legislative declaration
39‑21‑402
Definitions
39‑21‑403
Legislative oversight committee concerning tax policy - creation - duties - report
39‑21‑404
Task force concerning tax policy - creation - membership - duties
39‑21‑405
Repeal of part
Green check means up to date. Up to date

Current through Fall 2024

§ 39-21-303’s source at colorado​.gov