COLORADO DEPARTMENT OF REVENUE
STATEMENT OF BASIS AND PURPOSE

Re: Regulation 39-22-304(3)(i) (1 CCR 201-2) – AMENDED. 
Wages and Salaries Corporate Income Tax Modification

Basis:

The statutory basis for this regulation is §39-21-112 and §39-22-304.

Purpose:
	Colorado Revised Statute §39-22-304(3)(i) authorizes the deduction of certain wages and salaries based upon the provisions of section 280C of the internal revenue code.  This regulation is being revised to reflect changes in the internal revenue code.