COLORADO DEPARTMENT OF REVENUE

Hearing December 3, 2008, 9:30 a.m., Room 127,
 1375 Sherman St., Denver, Colorado

Proposed 
STATEMENT OF BASIS AND PURPOSE
Tax Regulation 24-35-103.5 [1 CCR 201-1 Procedures and Administration]

Basis

The statutory basis for this regulation is §39-21-112 and §24-35-103.5, C.R.S. 

Purpose

The purpose of this revision is to: (1) change subsection 4(f) to amend the address to which requests for rulings and letters are sent; (2) clarify subsection 2(c) to state that a response to a request for information letter will be a general discussion of the law and not a determination of the applicability of law to a specific set of facts;  (3) make clear in subsection 5(b0(i) that, in the case of simple ruling request, the base fee may be sufficient to issue a ruling; and (4) change subsection 7(a) to eliminate from the calculation of the ninety-day response deadline the time a requesting party takes to respond to a request by the department for additional information.  Subsection 7(a) is amended because the department believes that there is a significant argument that the current version of subsection 7(a) may be beyond the authority provided in statute.

Dated October 8, 2008