C.R.S. Section 39-22-601
Returns

  • repeal

(1)(a)(I) Whenever a resident individual or a nonresident individual with income from Colorado sources is required to file a federal income tax return under the provisions of section 6012 of the internal revenue code or whenever a resident individual or a nonresident individual has incurred any tax liability under any provision of this article, the individual shall make a return that shall contain a written declaration that it is made under the penalty of perjury in the second degree. The return shall set forth, in such detail as the executive director shall prescribe by regulations, the said individual’s federal taxable income, the deductions, modifications, exemptions, and credits required or allowed under this article, and any other information necessary to carry out the purposes of this article. For the purpose of this section, the residence of the individual taxpayer shall be the address supplied by the taxpayer to the department of revenue on the return.

(II)

For purposes of this paragraph (a), a nonresident individual whose only source of income from this state is compensation that is subtracted from federal taxable income under section 39-22-104 (4)(t) need not file a return.

(III)

For purposes of this paragraph (a), an individual whose only source of income is compensation that is subtracted from federal taxable income under section 39-22-104 (4)(u) need not file a return.

(IV)

For purposes of this subsection (1)(a), a nonresident individual whose only source of income from this state is income from an electing pass-through entity under subpart 3 of part 3 of this article 22 need not file a return.

(b)

If any individual is unable to make his own return, the return shall be made by a duly authorized agent, guardian, executor, administrator, or other person charged with the care of the person or property of such taxpayer.

(c)

Repealed.

(2)

Every C corporation subject to taxation under this article shall make a return which shall contain a written declaration that it is made under the penalties of perjury in the second degree. Such return shall set forth, in such detail as the executive director shall prescribe by regulations, federal taxable income and the modifications and credits required or allowed under this article and any other information necessary to carry out the purposes of this article. The return shall be signed by the president, vice-president, treasurer, assistant treasurer, chief accounting officer, or other officer duly authorized to act. In cases where receivers, trustees in bankruptcy, or assignees are operating the property or business of corporations, such receivers, trustees, or assignees shall make returns for such corporations in the same manner and form as corporations are required to make returns. Any tax due on the basis of such returns shall be collected in the same manner as if collected from the corporation for which the return is made.

(2.5)

Intentionally left blank —Ed.

(a)

Every S corporation which engages in activities in this state which would subject a C corporation to the requirement to make a return under this section shall make a return which shall contain a written declaration that it is made under the penalties of perjury in the second degree. Such return shall set forth, in such detail as the executive director shall prescribe by regulations, federal taxable income and the modifications and credits required or allowed under this article and any other information necessary to carry out the purposes of this article. The return shall be signed by an officer of the S corporation duly authorized to act, which authorization shall be conclusively presumed by the signature.

(b)

In addition to other information which the executive director may by regulation prescribe, the return shall set forth:

(I)

The name, address, and social security or federal identification number of each shareholder of the S corporation;

(II)

The income attributable to the state and the income not attributable to the state with respect to each shareholder of the S corporation as determined under subpart 2 of part 3 of this article; and

(III)

The modifications required by section 39-22-323.

(c)

The S corporation shall, on or before the day on which such return is filed, furnish to each person who was a shareholder of the S corporation during the year a copy of such information shown on the return as the executive director may by regulation prescribe.

(d)

The department of revenue shall permit S corporations to file composite returns and to make composite payments of tax on behalf of some or all of its nonresident shareholders. The department of revenue may permit composite returns and payments to be made on behalf of resident shareholders.

(e)

With respect to each of its nonresident shareholders, an S corporation shall, for each taxable period, either timely file with the department of revenue an agreement, as provided in subsection (2.5)(f) of this section, or make a payment to this state as provided in subsection (2.5)(h) of this section; except that this subsection (2.5)(e) shall not apply to an S corporation that makes the election allowed under subpart 3 of part 3 of this article 22.

(f)

The agreement referred to in subsection (2.5)(e) of this section is an agreement of a nonresident shareholder of the S corporation:

(I)

To file a return in accordance with this section and to make timely payment of all taxes imposed on the shareholder by this state with respect to the income of the S corporation; and

(II)

To be subject to personal jurisdiction in this state for purposes of the collection of income taxes, together with related interest and penalties, imposed on the shareholder by this state with respect to the income of the S corporation.

(g)

An S corporation that timely files an agreement as provided in paragraph (e) of this subsection (2.5) with respect to a nonresident shareholder of the S corporation for a taxable period shall be considered to have timely filed such an agreement for each subsequent taxable period. An S corporation that does not timely file such an agreement for a taxable period shall not be precluded from timely filing such an agreement for subsequent taxable periods. The agreement will be considered to be timely filed for a taxable period and for all subsequent taxable periods if it is filed at or before the time the annual return for such taxable period is required to be filed pursuant to paragraph (a) of this subsection (2.5).

(h)

The payment referred to in subsection (2.5)(e) of this section shall be in an amount equal to the highest marginal tax rate in effect under section 39-22-104 multiplied by the shareholder’s pro rata share of the income attributable to the state as reflected on the S corporation’s return for the taxable period. An S corporation shall be entitled to recover a payment made pursuant to this subsection (2.5)(h) from the shareholder on whose behalf the payment was made. Any such payment for a taxable period must be made at or before the time the annual return for such taxable period is required to be filed pursuant to subsection (2.5)(a) of this section.

(i)

Any amount paid by the S corporation to this state pursuant to paragraph (d) or paragraph (h) of this subsection (2.5) shall be considered to be a payment by the shareholder on account of the income tax imposed on the shareholder for the taxable period pursuant to section 39-22-104.

(j)

Intentionally left blank —Ed.

(I)

This subsection (2.5) applies to tax years beginning before January 1, 2024.

(II)

This subsection (2.5) is repealed, effective December 31, 2028.

(2.7)

Intentionally left blank —Ed.

(a)

Every S corporation that engages in activities in the state that would subject a C corporation to the requirement to make a return under this section shall make a return that must contain a written declaration that it is made under the penalties of perjury in the second degree. The return must set forth, in such detail as the executive director shall prescribe, federal taxable income and the modifications and credits required or allowed under this article 22 and any other information necessary to carry out the purposes of this article 22. The return must be signed by an officer of the S corporation duly authorized to act, which authorization is conclusively presumed by the signature.

(b)

On or before the day on which the return is filed pursuant to subsection (2.7)(a) of this section, but no later than the due date for the return, including any extensions, in addition to other information that the executive director may prescribe, the S corporation shall report to the executive director:

(I)

The name, address, and social security number or federal identification number of each shareholder of the S corporation;

(II)

Each shareholder’s pro rata share of the S corporation’s income, gain, loss, or deduction;

(III)

The income attributable to the state, with respect to each nonresident shareholder of the S corporation, as determined under subpart 2 of part 3 of this article 22;

(IV)

The modifications required by section 39-22-323 with respect to each shareholder;

(V)

Each shareholder’s share of any credits allowed pursuant to this article 22 to the extent that the credit is not applied to the composite payment by the S corporation pursuant to subsection (2.7)(d)(III)(B) of this section; and

(VI)

Each shareholder’s share, if any, of any composite payment made pursuant to subsection (2.7)(d)(III).

(c)

On or before the day on which the return is filed pursuant to subsection (2.7)(a) of this section, but no later than the due date for the return, including any extensions, the S corporation shall furnish to each person who was a shareholder of the S corporation during the year a copy of the information reported to the executive director pursuant to subsection (2.7)(b) of this section with respect to the shareholder.

(d)

Intentionally left blank —Ed.

(I)

Except as otherwise provided in this subsection (2.7)(d), every S corporation required to file a return under subsection (2.7)(a) of this section shall also file a composite return and make a composite payment of tax on behalf of all of its nonresident shareholders.

(II)

The composite return must not include:

(A)

Any resident shareholder, including a shareholder who is a resident of Colorado for only part of the taxable year;

(B)

Any nonresident shareholder exempt from tax under section 39-22-112 (1); or

(C)

Any nonresident shareholder who timely files an agreement pursuant to subsection (2.7)(e) of this section.

(III)

Intentionally left blank —Ed.

(A)

The amount of the composite payment is the aggregate income attributable to the state multiplied by the highest marginal tax rate in effect under section 39-22-104. The aggregate income attributable to the state is the sum of the income attributable to the state that each nonresident shareholder included in the composite return must take into account under section 39-22-322, as modified pursuant to sections 39-22-323 and 39-22-325. If the income calculated for any nonresident shareholder is a negative amount, that nonresident shareholder’s income is excluded from the calculation of aggregate income attributable to the state.

(B)

The S corporation may claim a nonresident shareholder’s pro rata share of any credit allowed with respect to the activity of the S corporation for the taxable year only if the nonresident shareholder is included in the composite return and only to the extent that the nonresident shareholder could have, under any applicable restrictions, claimed the credit themself on a return that the nonresident filed. The total of the credits claimed under this subsection (2.7)(d)(III)(B) for each nonresident shareholder must not exceed the amount of the composite payment calculated under subsection (2.7)(d)(III)(A) of this section with respect to the nonresident shareholder. To the extent that the credit exceeds the amount of the composite payment, the amount not applied to the composite payment is passed through to and may only be claimed by the nonresident shareholder pursuant to subsection (2.7)(d)(VI)(B) of this section.

(IV)

Every S corporation required to make a composite payment under this subsection (2.7)(d) is subject to the requirements of section 39-22-606. The composite payment calculated pursuant to subsection (2.7)(d)(III) of this section is regarded as the “tax” or “tax liability” for purposes of section 39-22-606, and the S corporation is regarded as the “taxpayer” or “corporation”. Any refund allowed pursuant to section 39-21-108 for any overpayment of estimated tax made pursuant to this subsection (2.7)(d)(IV) must be made to the S corporation that filed the composite return.

(V)

An S corporation is entitled to recover from each nonresident shareholder that nonresident shareholder’s share of the composite payment made pursuant to this subsection (2.7)(d), including any penalty or interest paid pursuant to section 39-22-621.

(VI)

Intentionally left blank —Ed.

(A)

A composite return filed pursuant to this subsection (2.7)(d) satisfies the filing requirement imposed by this section for each nonresident shareholder included therein, unless that nonresident shareholder has any income from Colorado sources that is not included in a composite return or that nonresident shareholder has incurred any tax liability under this article 22 that is not included in a composite return.

(B)

A nonresident shareholder who is included in a composite return, and whose filing requirement under this section is satisfied thereby, may file a return in accordance with this section. A nonresident shareholder who files a return may claim a credit for its share of the composite payment made by the S corporation on behalf of the nonresident shareholder pursuant to subsection (2.7)(d)(III)(A) of this section. A nonresident shareholder who files a return may claim its pro rata share of any credit allowed by this article 22 to the extent that the credit was not applied to the composite payment made by the S corporation on behalf of the nonresident shareholder.

(C)

The exclusion of a shareholder from the composite return pursuant to subsection (2.7)(d)(II) of this section does not exempt the shareholder from the obligation to file a return or pay the tax imposed under this article 22.

(VII)

This subsection (2.7)(d) does not apply to:

(A)

An S corporation that makes the election allowed under subpart 3 of part 3 of this article 22; or

(B)

An S corporation consisting only of shareholders described in subsection (2.7)(d)(II) of this section.

(e)

Intentionally left blank —Ed.

(I)

The agreement referred to in subsection (2.7)(d)(II)(C) of this section is an agreement of a nonresident shareholder of the S corporation for purposes of subsection (2.7)(d)(II)(C) of this section if the agreement:

(A)

Requires the nonresident shareholder to file a return in accordance with this section and to make timely payment of all taxes imposed on the shareholder by the state with respect to the income of the nonresident shareholder; and

(B)

Provides that the S corporation is subject to personal jurisdiction in the state for purposes of the collection of income taxes, together with related interest and penalties, imposed on the shareholder by the state with respect to the income of the S corporation.

(II)

In order to exclude a nonresident shareholder from a composite return pursuant to subsection (2.7)(d)(II)(C) of this section, the S corporation must obtain the agreement described in this subsection (2.7)(e) from the nonresident shareholder and file it with the return required by subsection (2.7)(a) of this section. An S corporation that timely files an agreement for a taxable period is considered to have timely filed such an agreement for each subsequent taxable period. An S corporation that does not timely file such an agreement for a taxable period is not precluded from timely filing such an agreement for subsequent taxable periods.

(f)

This subsection (2.7) applies to income tax years beginning on and after January 1, 2024.

(3)

Every fiduciary, except a receiver appointed by authority of law in possession of part only of the property of an individual, shall make a return for any individuals, estates, or trusts for which he acts, which return shall contain a declaration that it is made under the penalties of perjury in the second degree. Such return shall set forth, in such detail as the executive director shall prescribe by regulation, the federal taxable income and the deductions, modifications, exemptions, and credits required or allowed under this article and any other information necessary to carry out the purposes of this article. The individuals, estates, or trusts for which a fiduciary acts are as follows:

(a)

Every individual for whom a return is required to be filed under subsection (1) of this section;

(b)

Every resident estate or trust and every nonresident estate or trust with income from Colorado sources for which a federal income tax return is required to be filed and every resident estate or trust and every nonresident estate or trust which has incurred any tax liability under any provision of this article.

(c)

Repealed.

(4)

Every fiduciary of an estate or trust with a nonresident beneficiary which receives net income from real or tangible personal property within Colorado shall withhold and pay over to the executive director, out of the income to be distributed to such nonresident beneficiary, a tax upon the beneficiary’s share of said income computed at the rate provided in section 39-22-104 unless the nonresident beneficiary files a timely return of his total income from sources within Colorado, in which case the fiduciary shall withhold and pay over only the amount of tax disclosed by the beneficiary’s return. The nonresident beneficiary, at his option within the time limited by this article, may file a return of his income and may claim a refund for the amount of tax withheld in excess of the amount of tax due as shown by said return.

(4.5)

Repealed.

(5)

Intentionally left blank —Ed.

(a)

Every partnership that engages in activities in this state that would subject a C corporation to the requirement to make a return under this section shall make a return that shall contain a written declaration that it is made under the penalties of perjury in the second degree. Such return shall set forth, in such detail as the executive director shall prescribe, federal ordinary income and the modifications and credits required or allowed under this article and any other information necessary to carry out the purposes of this article. The return shall be signed by any one of the partners.

(b)

In addition to other information that the executive director may prescribe, the return shall set forth:

(I)

The name, address, and social security or federal identification number of each partner of the partnership;

(II)

The income attributable to the state and the income not attributable to the state with respect to each partner of the partnership as determined under section 39-22-203; and

(III)

The modifications required by section 39-22-202.

(c)

The partnership shall, on or before the day on which the return is filed, furnish to each person who was a partner of the partnership during the year a copy of such information shown on the return as the executive director may prescribe.

(d)

The department of revenue shall permit partnerships to file composite returns and to make composite payments of tax on behalf of any or all of its nonresident partners.

(e)

With respect to each of its nonresident partners, a partnership shall, for each taxable period, either timely file with the department of revenue an agreement, as provided in subsection (5)(f) of this section, or make payment to this state, as provided in subsection (5)(h) of this section; except that this subsection (5)(e) shall not apply to a partnership that makes the election allowed under subpart 3 of part 3 of this article 22.

(e.5)

Paragraphs (d) and (e) of this subsection (5) shall not apply to a publicly traded partnership, as defined in section 7704 (b) of the internal revenue code, that meets any of the exceptions under section 7704 (c) of the internal revenue code and is not treated as a corporation under section 7704 (a) of the internal revenue code.

(f)

The agreement referred to in subsection (5)(e) of this section is an agreement of a nonresident partner of the partnership:

(I)

To file a return in accordance with this section and to make timely payment of all taxes imposed on the member by this state with respect to the income of the partnership; and

(II)

To be subject to personal jurisdiction in this state for purposes of the collection of income taxes, together with related interest and penalties, imposed on the partner by this state with respect to the income of the partnership.

(g)

A partnership that timely files an agreement as provided in paragraph (e) of this subsection (5) with respect to a nonresident partner of the partnership for a taxable period shall be considered to have timely filed such an agreement for each subsequent taxable period. A partnership that does not timely file such an agreement for a taxable period shall not be precluded from timely filing such an agreement for subsequent taxable periods. The agreement will be considered to be timely filed for a taxable period and for all subsequent taxable periods if it is filed at or before the time the annual return for such taxable period is required to be filed pursuant to paragraph (a) of this subsection (5).

(h)

The payment referred to in subsection (5)(e) of this section shall be in an amount equal to the highest marginal tax rate in effect under section 39-22-104 multiplied by the nonresident partner’s share of the income attributable to the state as reflected on the partnership’s return for the taxable period. A partnership shall be entitled to recover a payment pursuant to this subsection (5)(h) from the nonresident partner on whose behalf the payment was made. Any such payment for a taxable period must be made at or before the time the annual return for such taxable period is required to be filed pursuant to subsection (5)(a) of this section.

(i)

Any amount paid by the partnership to this state pursuant to paragraph (d) or (h) of this subsection (5) shall be considered to be a payment by the nonresident partner on account of the income tax imposed on the nonresident partner for the taxable period pursuant to section 39-22-104 or 39-22-301.

(j)

Intentionally left blank —Ed.

(I)

This subsection (5) applies to income tax years beginning before January 1, 2024.

(II)

This subsection (5) is repealed, effective December 31, 2028.

(5.5)

Intentionally left blank —Ed.

(a)

Every partnership that engages in activities in the state that would subject a C corporation to the requirement to make a return under this section shall make a return that contains a written declaration that it is made under the penalty of perjury in the second degree. The return must set forth, in such detail as the executive director prescribes, federal ordinary income and the modifications and credits required or allowed under this article 22 and any other information necessary to carry out the purposes of this article 22. The return must be signed by a partner duly authorized to act, and the authorization is to be conclusively presumed by the signature.

(b)

On or before the day on which a return is filed pursuant to subsection (5.5)(a) of this section, but no later than the due date for the return, including any extensions, in addition to other information that the executive director may prescribe, the partnership shall report to the executive director:

(I)

The name, address, and social security number or federal identification number of each partner of the partnership;

(II)

Each partner’s distributive share of partnership income, gain, loss, or deduction;

(III)

The income derived from sources within Colorado as determined under section 39-22-203 with respect to each nonresident partner;

(IV)

The modifications that may be required by section 39-22-202 or 39-22-203, as applicable, with respect to each partner;

(V)

Each partner’s share of any credits allowed pursuant to this article 22 to the extent that the credit was not applied to the composite payment by the partnership pursuant to subsection (5.5)(d)(III)(B) of this section; and

(VI)

Each partner’s share, if any, of any composite payment made by the partnership pursuant to subsection (5.5)(d)(III) of this section.

(c)

On or before the day on which the return is filed pursuant to subsection (5.5)(a) of this section, but no later than the due date for the return, including any extensions, the partnership shall furnish to each person who was a partner during the year a copy of the information reported to the executive director pursuant to subsection (5.5)(b) of this section with respect to the partner.

(d)

Intentionally left blank —Ed.

(I)

Except as otherwise provided in this subsection (5.5)(d), every partnership required to file a return under subsection (5.5)(a) of this section shall also file a composite return and make a composite payment of tax on behalf of all of its nonresident partners.

(II)

The composite return must not include:

(A)

Any resident partner, including a partner who is a resident of Colorado for only part of the taxable year;

(B)

Any nonresident partner that is a corporation or a partnership;

(C)

Any nonresident partner exempt from tax under section 39-22-112 (1); and

(D)

Any nonresident partner who timely files an agreement pursuant to subsection (5.5)(e) of this section.

(III)

Intentionally left blank —Ed.

(A)

The amount of the composite payment is the aggregate income derived from sources in the state multiplied by the highest marginal tax rate in effect under section 39-22-104. The aggregate income attributable to the state is the sum of the distributive share of partnership income, gain, loss, or deduction derived from sources in Colorado for each nonresident partner included in the composite return, computed pursuant to section 39-22-203, including the modifications provided by that section. If the income computed for any nonresident partner is a negative amount, that nonresident partner’s income is excluded from the calculation of aggregate income derived from sources in the state.

(B)

The partnership may claim a nonresident partner’s distributive share of any credit allowed with respect to the activity of the partnership for the taxable year only if the nonresident partner is included in the composite return and only to the extent that the nonresident partner could have, under any applicable restrictions, claimed the credit themself on a return that the nonresident filed. The total of the credits applied under this subsection (5.5)(d)(III)(B) for each nonresident partner must not exceed the amount of the composite payment calculated under subsection (5.5)(d)(III)(A) of this section with respect to the nonresident partner. To the extent that the credit exceeds the amount of the composite payment, the amount not applied to the composite payment is passed through to and may only be claimed by the nonresident partner pursuant to subsection (5.5)(d)(VI)(B) of this section.

(IV)

Every partnership required to make a composite payment under this subsection (5.5)(d) is subject to the requirements of section 39-22-606. The composite payment calculated pursuant to subsection (5.5)(d)(III) of this section is regarded as the “tax” or “tax liability” for purposes of section 39-22-606, and the partnership is regarded as the “taxpayer” or “corporation”. Any refund allowed pursuant to section 39-21-108 for any overpayment of estimated tax made pursuant to this subsection (5.5)(d)(IV) must be made to the partnership that filed the composite return.

(V)

A partnership is entitled to recover from each nonresident partner that nonresident partner’s share of the composite payment made pursuant to this subsection (5.5)(d), including any penalty or interest paid pursuant to section 39-22-621.

(VI)

Intentionally left blank —Ed.

(A)

A composite return filed pursuant to this subsection (5.5)(d) satisfies the filing requirement under this section for each nonresident partner included in the return unless that nonresident partner has any income from Colorado sources that is not included in a composite return or that nonresident partner has incurred any tax liability under this article 22 that is not included in a composite return.

(B)

A nonresident partner included in a composite return, and whose filing requirement under this section is satisfied by filing the composite return, may file a return in accordance with this section. A nonresident partner who files a return may claim a credit for its share of the composite payment made by the partnership on behalf of the nonresident partner pursuant to subsection (5.5)(d)(III)(A) of this section. A nonresident partner who files a return may claim its distributive share of any credit as allowed by this article 22 to the extent the credit was not applied to the composite payment made by the partnership on behalf of the nonresident partner.

(C)

The exclusion of a partner from the composite return pursuant to subsection (5.5)(d)(II) of this section does not exempt the partner from the obligation to file a return or pay the tax imposed under this article 22.

(VII)

This subsection (5.5)(d) does not apply to:

(A)

A partnership that makes the election allowed under subpart 3 of part 3 of this article 22;

(B)

A publicly traded partnership, as defined in section 7704 (b) of the internal revenue code, that meets any of the exceptions under section 7704 (c) of the internal revenue code and is not treated as a corporation under section 7704 (a) of the internal revenue code; and

(C)

A partnership consisting only of partners described in subsection (5.5)(d)(II) of this section.

(e)

Intentionally left blank —Ed.

(I)

The agreement referred to in subsection (5.5)(d)(II)(C) of this section is an agreement of a nonresident partner of the partnership for purposes of subsection (5.5)(d)(II)(C) of this section if the agreement:

(A)

Requires the nonresident partner to file a return in accordance with this section and make timely payment of all taxes imposed on the partner by the state with respect to the income of the partnership; and

(B)

Provides that the nonresident partner is subject to personal jurisdiction in the state for purposes of the collection of income taxes, together with related interest and penalties, imposed on the partner by the state with respect to the income of the partnership.

(II)

In order to exclude a nonresident partner from a composite return pursuant to subsection (5.5)(d)(II)(D) of this section, the partnership must obtain the agreement described in this subsection (5.5)(e) from the nonresident partner and file it with the return required by subsection (5.5)(a) of this section. A partnership that timely files an agreement for a taxable period is considered to have timely filed such an agreement for each subsequent taxable period. A partnership that does not timely file such an agreement for a taxable period is not precluded from timely filing such an agreement for subsequent taxable periods.

(f)

This subsection (5.5) applies to tax years beginning on and after January 1, 2024.

(6)

Intentionally left blank —Ed.

(a)

Any final determination of federal taxable income made prior to January 1, 2024, pursuant to the provisions of federal law under which federal taxable income is found to differ from the taxable income originally reported to the federal government must be reported by the taxpayer to the executive director by making and filing a Colorado amended return within thirty days of such final determination with a statement of the reasons for the difference, in such detail as the executive director may require. In addition thereto, any taxpayer filing an amended return with the federal internal revenue service that reflects any change in income reportable to the state of Colorado shall, within thirty days of such federal filing, make and file a corresponding Colorado amended return.

(b)

For purposes of this subsection (6), final determination means only the first of the following to occur:

(I)

The taxpayer’s execution of a waiver with and acceptance by the internal revenue service of restrictions on assessment and collection of deficiency in federal tax or acceptance of overassessment in said tax;

(II)

The acceptance by the internal revenue service of an offer of waiver of restrictions on assessment and collection of deficiency in tax or acceptance of overassessment;

(III)

The execution by the taxpayer of acceptance of an examining officer’s findings by a partnership, limited liability company, or fiduciary;

(IV)

The payment of any additional tax by the taxpayer; or

(V)

Any judgment becoming final, whether by stipulation or otherwise, in any judicial proceeding affecting such change in reported federal taxable income.

(c)

If, from such return or from investigation, it appears that the tax with respect to income imposed by this article has not been fully assessed, the executive director shall, within one year after the receipt of such return or within one year of discovery of such final determination, if unreported, assess the deficiency with interest at the rate prescribed in section 39-22-621.

(d)

If the taxpayer does not file such amended return within the prescribed thirty-day period, then the statute of limitations shall be tolled from the end of such thirty-day period until the date that such amended return is filed with the executive director or until the executive director discovers such determination or change, whichever shall first occur.

(e)

If any taxpayer agrees with the internal revenue service for an extension, or renewals thereof, of the period for assessing deficiencies or paying refunds in federal income tax or for changing reported federal taxable income of a partnership, limited liability company, or fiduciary for any year or if any taxpayer files a federal income tax refund claim or initiates administrative or judicial proceedings which have the effect of extending said period for any year, the period within which the executive director may issue a notice of deficiency for any such year shall be four years after the applicable Colorado return was filed or one year after the date of expiration of the extended period for assessing deficiencies in federal income tax or changing reported federal taxable income of a partnership, limited liability company, or fiduciary, whichever is later.

(f)

Repealed.

(g)

Notwithstanding any provision of this article or of article 21 of this title, any assessment made by reason of the applicability of the provisions of paragraphs (a) to (f) of this subsection (6), which could not have been made except for the extension or tolling, pursuant to said provisions, of the period of limitations otherwise applicable for assessing income taxes, shall be limited to deficiencies arising as a result of adjustments made by the commissioner of internal revenue in any final determination of federal taxable income, if the taxpayer has been audited by the department of revenue for the year in question and the issues raised in the audit have been settled by agreement for payment or payment of deficiencies arising therefrom.

(h)

This subsection (6) is repealed, effective December 31, 2028.

(7)

Intentionally left blank —Ed.

(a)

Every person or organization exempt from taxes pursuant to section 39-22-112 shall make and file a return only if said person or organization is required to file a federal return of unrelated business income, which Colorado return shall contain such information as the executive director may prescribe.

(b)

The executive director may require a person or organization exempt from taxes pursuant to section 39-22-112 to make and file a return containing such information as the executive director may prescribe to claim a credit allowed under this article 22 even if the person or organization does not have unrelated business income.

(c)

All procedures of law relating to the determination, assessment, collection, and refund of tax apply to a return made and filed under this subsection (7) and the tax payable thereon, if any.

(8)

Repealed.

(9)

Intentionally left blank —Ed.

(a)

Any person who is required by section 6053 or 6041A of the internal revenue code to file annual information reports concerning tips or remunerations for services or remunerations for direct sales may be required, by rules promulgated by the executive director, to file copies of such reports or otherwise furnish the same to the executive director within the time required by the internal revenue service for the filing of such reports. Such reports shall show, in addition to the information required by the internal revenue service, any amounts deducted and withheld by the payer for income tax due to the state of Colorado from the payee listed on such reports.

(a.5)

The executive director may require any magnetic media taxpayer to file the reports described in paragraph (a) of this subsection (9) by magnetic media or in other machine-readable form. For the purposes of this paragraph (a.5), “magnetic media taxpayer” means a taxpayer who is required to file information returns described in section 6041A, 6051, or 6053 of the internal revenue code by magnetic media or in other machine-readable form under section 6011 (e) of the internal revenue code.

(b)

Any person required by paragraph (a) of this subsection (9) to file a report who fails to timely file such report shall be subject to a fine of fifty dollars for each such failure.

(10)

Repealed.

Source: Section 39-22-601 — Returns - repeal, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-39.­pdf (accessed Oct. 20, 2023).

39‑22‑101
Short title
39‑22‑102
Legislative declaration
39‑22‑103
Definitions - construction of terms
39‑22‑104
Income tax imposed on individuals, estates, and trusts - single rate - report - legislative declaration - definitions - repeal
39‑22‑104.5
Pretax payments - catastrophic health insurance
39‑22‑104.6
Pretax payments - medical savings accounts
39‑22‑105
Alternative minimum tax
39‑22‑106
Colorado personal exemptions of a resident individual
39‑22‑107
Income tax filing status
39‑22‑107.5
Income tax filing status - innocent spouse relief
39‑22‑108
Credit for tax paid other states
39‑22‑108.5
Dual resident trusts - income tax calculation
39‑22‑109
Income of a nonresident individual for purposes of Colorado income tax
39‑22‑110
Apportionment of tax in the case of a part-year resident
39‑22‑110.5
Reacquisition of residency during active duty military service
39‑22‑111
Accounting periods and methods
39‑22‑112
Persons and organizations exempt from tax under this article
39‑22‑114.5
Tax credit for investment in technologies for recycling plastics - repeal
39‑22‑116
Tax tables for individuals
39‑22‑119
Expenses related to child care - credits against state tax
39‑22‑119.5
Child care expenses tax credit - legislative declaration - definitions
39‑22‑120
Legislative declaration - state sales tax refund - offset against state income tax
39‑22‑121
Credit for child care facilities - legislative declaration - definitions - repeal
39‑22‑122
Long-term care insurance credit
39‑22‑123
Earned income tax credit - refund of state excess revenues for fiscal years commencing on or after July 1, 1998
39‑22‑123.5
Earned income tax credit - not a refund of excess state revenues - trigger - legislative declaration - repeal
39‑22‑129
Child tax credit - legislative declaration - definitions - repeal
39‑22‑201
Partners, not partnership, subject to tax
39‑22‑202
Resident partners - definition
39‑22‑203
Nonresident partners
39‑22‑204
Accounting periods and methods
39‑22‑206
Foreign source income of export taxpayers
39‑22‑300.1
Short title - citation
39‑22‑301
Corporate tax imposed - repeal
39‑22‑302
S corporations
39‑22‑303
Dividends in a combined report - foreign source income - affiliated groups - definitions
39‑22‑303.1
Interstate banking or branching - nondiscriminatory tax treatment
39‑22‑303.5
Single-factor apportionment of business income - allocation of nonbusiness income - rules - definitions
39‑22‑303.6
Market-based apportionment of the income of a taxpayer engaged in business - allocation of nonapportionable income - rules - definitions
39‑22‑303.7
Sourcing of sales of mutual fund service corporations - definitions
39‑22‑303.9
Apportionment of the income of a taxpayer with enterprise data center operations in the state - definitions
39‑22‑304
Net income of corporation - legislative declaration - definitions - repeal
39‑22‑305
Consolidated returns
39‑22‑306
Accounting periods and methods
39‑22‑308
Credit allowed for purchase of Colorado coal
39‑22‑310
Legislative declaration - statutory interpretation and construction
39‑22‑320
Short title - citation
39‑22‑321
Definitions
39‑22‑322
Taxation of an S corporation and its shareholders
39‑22‑323
Modification and characterization of income
39‑22‑324
Basis and adjustments
39‑22‑325
Carryforwards and carrybacks - loss limitation
39‑22‑326
Part-year residence
39‑22‑327
Distributions
39‑22‑328
Returns - repeal
39‑22‑329
Tax credits
39‑22‑330
Uniformity of application and construction
39‑22‑340
Short title - citation
39‑22‑341
Legislative declaration
39‑22‑342
Definitions
39‑22‑343
Election
39‑22‑344
Imposition of tax
39‑22‑345
Owner exclusion
39‑22‑346
Credit for tax paid in other states
39‑22‑347
Credit for electing pass-through entity owner - tax preference performance statement - legislative declaration
39‑22‑401
Income of a resident estate or trust for purposes of Colorado income tax
39‑22‑402
Share of a resident estate, trust, or beneficiary in Colorado fiduciary adjustments
39‑22‑403
Income of a nonresident estate or trust subject to income tax
39‑22‑404
Share of a nonresident estate, trust, or beneficiary in income from sources within Colorado
39‑22‑407
Accounting periods and methods
39‑22‑501
Taxation of regulated investment companies
39‑22‑503
Taxation of real estate investment trusts - definitions
39‑22‑504
Net operating losses
39‑22‑504.5
Short title
39‑22‑504.6
Definitions
39‑22‑504.7
Medical savings accounts - establishment - contributions - distributions - restrictions - taxation - portability
39‑22‑507.5
Credits against tax - investment in certain property - repeal
39‑22‑507.6
Credits against corporate tax - investment in certain property - repeal
39‑22‑509
Credit against tax - employer expenditures for alternative transportation options for employees - legislative declaration - definitions - repeal
39‑22‑514
Tax credit for qualified costs incurred in preservation of historic properties
39‑22‑514.5
Tax credit for qualified costs incurred in preservation of historic structures - short title - definitions
39‑22‑516.7
Tax credit for innovative motor vehicles - tax preference performance statement - definitions - repeal
39‑22‑516.8
Tax credit for innovative trucks - tax preference performance statement - definitions - repeal
39‑22‑517
Tax credit for child care center investments
39‑22‑518
Tax modification for net capital gains - definitions - repeal
39‑22‑520
Credit against tax - investment in school-to-career program - definitions
39‑22‑521
Credits against tax - employer expenses - public assistance recipients
39‑22‑522
Credit against tax - conservation easements - definition
39‑22‑522.5
Conservation easement tax credits - dispute resolution - legislative declaration
39‑22‑526
Credit for environmental remediation of contaminated land - legislative declaration - definition - repeal
39‑22‑529
Business expense deduction - labor services - unauthorized alien - definitions
39‑22‑531
Colorado job growth incentive tax credit - rules - definitions - repeal
39‑22‑532
Advanced industry investment tax credit - definitions
39‑22‑533
Instream flow incentive tax credit for water rights holders - rules - definitions - repeal
39‑22‑535
Credit for purchase of uniquely valuable motor vehicle registration numbers
39‑22‑536
Credit for food contributed to hunger-relief charitable organizations - definitions - repeal
39‑22‑537.5
Credit for personal property taxes paid - legislative declaration - definitions - repeal
39‑22‑538
Credit for health-care preceptors working in health professional shortage areas - legislative declaration - definitions
39‑22‑539
Credit for employer contributions to employee 529 qualified state tuition programs - legislative declaration - definitions - repeal
39‑22‑540
Credit - organ donor - leave of absence period - legislative declaration - definitions
39‑22‑541
Credit for retrofitting a residence to increase a residence’s visitability - tax preference performance statement - legislative declaration - definitions - repeal
39‑22‑542
Tax credit for conversion costs for employee business ownership - definitions - declaration - repeal
39‑22‑543
Credit for wildfire hazard mitigation expenses - legislative declaration - definitions - repeal
39‑22‑544
Credit against tax - qualifying seniors - creation - legislative declaration - definitions
39‑22‑545
Credit against tax - heat pump systems - heat pump water heaters - tax preference performance statement - legislative declaration - definitions - repeal
39‑22‑546
Credit against tax - residential energy storage systems - tax preference performance statement - legislative declaration - definition - repeal
39‑22‑547
Early childhood educator income tax credit - tax preference performance statement - legislative declaration - definitions - repeal
39‑22‑548
Colorado homeless contribution tax credit - legislative declaration - definitions - repeal
39‑22‑549
Credit against tax - small food business recovery and resilience grant program equipment - community food consortium duties and responsibilities - tax preference performance statement - legislative declaration - definitions - repeal
39‑22‑550
Tax credit for reducing emissions from certain lawn equipment - tax preference performance statement - legislative declaration - definitions - report - repeal
39‑22‑551
Industrial clean energy tax credit - tax preference performance statement - definitions - report - repeal
39‑22‑552
Tax credit for expenditures made in connection with a geothermal energy project - tax preference performance statement - definitions - repeal
39‑22‑553
Geothermal electricity generation production tax credit - tax preference performance statement - definitions - repeal
39‑22‑554
Heat pump technology and thermal energy network tax credit - tax preference performance statement - definitions - repeal
39‑22‑555
Electric bicycle tax credit - tax preference performance statement - definitions - repeal
39‑22‑556
Tax credit for sustainable aviation fuel production facility - tax preference performance statement - definitions - repeal
39‑22‑557
Clean hydrogen tax credit - qualified uses - tax preference performance statement - definitions - legislative declaration - repeal
39‑22‑558
Tax credit for employer’s contribution to employee for eligible expenses in connection with a qualifying home purchase - tax preference performance statement - legislative declaration - definitions
39‑22‑559
Film incentive tax credit - tax preference performance statement - review - legislative declaration - definitions - repeal
39‑22‑601
Returns - repeal
39‑22‑601.5
Reporting federal adjustments - definitions
39‑22‑602
Failure to make return - director may make
39‑22‑603
Returns not made under oath
39‑22‑603.5
Frivolous returns
39‑22‑604
Withholding tax - requirement to withhold - tax lien - exemption from lien - annual statement - notice - definitions
39‑22‑604.3
Innovation reinvestment - withholding - transfers - bioscience - clean technology - short title - legislative declaration - definitions - repeal
39‑22‑604.5
Withholding tax - transfers of Colorado real property - nonresident transferors
39‑22‑605
Failure by individual to pay estimated income tax
39‑22‑606
Failure by corporation to pay estimated income tax
39‑22‑607
Estimated tax deposited with treasurer
39‑22‑608
Form, place, and date of filing return - extension - electronic filing
39‑22‑609
Payment of tax - applicable when
39‑22‑610
Relief for members of the armed forces of the United States - when
39‑22‑611
Property exempt from ad valorem taxes
39‑22‑621
Interest and penalties
39‑22‑622
Refunds
39‑22‑623
Disposition of collections - definition
39‑22‑624
Prior rights and liabilities not affected
39‑22‑625
Application of article - effective date
39‑22‑626
Applicability of amendments to this article to income tax years
39‑22‑627
Temporary adjustment of rate of income tax - refund of excess state revenues - authority of executive director
39‑22‑628
Direct deposit of refund to collegeinvest savings accounts - modification of individual income tax return forms - legislative declaration - definition
39‑22‑629
Advance payments of income tax credits - definitions
39‑22‑651
Short title - citation
39‑22‑652
Definitions
39‑22‑653
Taxpayer disclosure of reportable or listed transactions
39‑22‑654
Additional listed transactions - report
39‑22‑655
Penalty for failure to disclose a reportable or listed transaction
39‑22‑656
Material advisor - disclosure of reportable or listed transactions
39‑22‑657
Material advisor - maintenance of list
39‑22‑658
Material advisor - penalties
39‑22‑659
Waiver, reduction, or compromise of penalty for reasonable cause
39‑22‑701
Legislative declaration
39‑22‑702
Voluntary contribution designation - procedure
39‑22‑703
Contributions credited to Colorado nongame conservation and wildlife restoration cash fund - administration - transfer
39‑22‑704
Repeal of part
39‑22‑801
Voluntary contribution designation - procedure
39‑22‑802
Contributions credited to Colorado domestic abuse program fund - creation - appropriation
39‑22‑803
Repeal of part
39‑22‑1001
Limitations on voluntary contribution programs - queue - notice - reestablishment of certain programs
39‑22‑1301
Voluntary contribution designation - procedure
39‑22‑1302
Contributions credited to homeless prevention activities program fund - creation - appropriation
39‑22‑1801
Legislative declaration
39‑22‑1802
Voluntary contribution designation - procedure - effective date
39‑22‑1803
Contributions credited to the Special Olympics Colorado fund - creation - appropriation
39‑22‑1804
Repeal of part
39‑22‑1901
Legislative declaration
39‑22‑1902
Voluntary contribution designation - procedure
39‑22‑1903
Contributions credited to the fund - appropriation
39‑22‑2001
Legislative declaration - revenues exceeding TABOR limit - sales tax refund
39‑22‑2002
Fiscal years commencing on or after July 1, 1998 - state sales tax refund - authority of executive director - repeal
39‑22‑2003
State sales tax refund - offset against state income tax - qualified individuals
39‑22‑2004
Temporary refund of excess state revenues from all sources - definitions - repeal
39‑22‑2005
Refund of excess state revenues from all sources - definitions - repeal
39‑22‑2101
Definitions
39‑22‑2102
Credit against tax - affordable housing developments - legislative declaration
39‑22‑2103
Recapture
39‑22‑2104
Filing requirements
39‑22‑2105
Parallel credits - insurance premium taxes
39‑22‑2106
Rules
39‑22‑2107
Compliance monitoring
39‑22‑2108
Report to the general assembly
39‑22‑2201
Voluntary contribution designation - procedure
39‑22‑2202
Contributions credited to the fund - administration - transfer
39‑22‑2203
Repeal of part
39‑22‑2401
Legislative declaration
39‑22‑2402
Voluntary contribution designation - procedure
39‑22‑2403
Contributions credited to Colorado healthy rivers fund - creation - appropriation
39‑22‑2404
Repeal of part
39‑22‑2901
Voluntary contribution designation - procedure
39‑22‑2902
Contributions credited to the Alzheimer’s Association fund - creation - appropriation
39‑22‑2903
Repeal of part
39‑22‑3001
Voluntary contribution designation - procedure
39‑22‑3002
Contributions credited to the military family relief fund - appropriation
39‑22‑3003
Repeal of part
39‑22‑3301
Legislative declaration
39‑22‑3302
Voluntary contribution designation - procedure
39‑22‑3303
Contributions credited to the Colorado cancer fund - creation - appropriation
39‑22‑3304
Repeal of part
39‑22‑3601
Legislative declaration
39‑22‑3602
Voluntary contribution designation - procedure
39‑22‑3603
Contributions credited to the Make-A-Wish Foundation of Colorado fund - creation - appropriation
39‑22‑3604
Repeal of part
39‑22‑3801
Legislative declaration
39‑22‑3802
Voluntary contribution designation - procedure
39‑22‑3803
Contributions credited to the unwanted horse fund - creation - appropriation
39‑22‑3804
Repeal of part
39‑22‑4301
Legislative declaration
39‑22‑4302
Voluntary contribution designation - procedure - effective date
39‑22‑4303
Contributions credited to the American Red Cross Colorado disaster response, readiness, and preparedness fund - creation - appropriation
39‑22‑4304
Repeal of part
39‑22‑4401
Legislative declaration
39‑22‑4402
Voluntary contribution designation - procedure - effective date
39‑22‑4403
Contributions credited to the Colorado for Healthy Landscapes fund - creation - appropriation
39‑22‑4404
Repeal of part
39‑22‑4501
Legislative declaration
39‑22‑4502
Voluntary contribution designation - procedure - effective date
39‑22‑4503
Contributions credited to the Habitat for Humanity of Colorado fund - creation - appropriation
39‑22‑4504
Repeal of part
39‑22‑4601
Legislative declaration
39‑22‑4602
Voluntary contribution designation - procedure - effective date
39‑22‑4603
Contributions credited to the Colorado Youth Conservation Corps fund - creation - appropriation
39‑22‑4604
Repeal of part
39‑22‑4701
Short title
39‑22‑4702
Legislative declaration
39‑22‑4703
Definitions
39‑22‑4704
First-time home buyer savings account
39‑22‑4705
Eligible expenses - penalties for other uses
39‑22‑4706
Forms
39‑22‑4707
Financial institutions
39‑22‑4801
Legislative declaration
39‑22‑4802
Voluntary contribution designation - procedure - effective date
39‑22‑4803
Contributions credited to the Urban Peak Housing and Support Services for Youth Experiencing Homelessness fund - creation - appropriation
39‑22‑4804
Repeal of part
39‑22‑4901
Legislative declaration
39‑22‑4902
Voluntary contribution designation - procedure - effective date
39‑22‑4903
Contributions credited to the family caregiver support fund - creation - appropriation
39‑22‑4904
Repeal of part
39‑22‑5001
Legislative declaration
39‑22‑5002
Voluntary contribution designation - procedure - effective date
39‑22‑5003
Contributions credited to the Young Americans Center for Financial Education fund - creation - appropriation
39‑22‑5004
Repeal of part
39‑22‑5101
Legislative declaration
39‑22‑5102
Voluntary contribution designation - procedure - effective date
39‑22‑5103
List of eligible charitable organizations
39‑22‑5104
Contributions credited to the donate to a Colorado nonprofit fund - creation - appropriation - distribution
39‑22‑5105
Initial funding
39‑22‑5201
Definitions
39‑22‑5202
Uninsured designation - required forms - rules
39‑22‑5301
Legislative declaration
39‑22‑5302
Voluntary contribution designation - procedure - effective date
39‑22‑5303
Contributions credited to Feeding Colorado fund - creation - appropriation
39‑22‑5304
Repeal of part
Green check means up to date. Up to date

Current through Fall 2024

§ 39-22-601’s source at colorado​.gov