| Notice Filed with SOS |
06/14/2023 |
| Rule |
ProposedRuleAttach2023-00315.doc |
| Additional Information |
AddInfoAttach2023-00315.docx |
| Statutory Authority |
The statutory bases for this rule are sections 39-21-112(1), 39-21-113(1)(c), 39-22-103(11), 39-22-104, 39-22-105, 39-22-108, 39-22-109, 39-22-110, 39-22-202(4), and 39-22-329(1), C.R.S. |
| Description of Subjects/Issues |
The purpose of the amendments to this rule is to reorganize and revise the existing rule to improve clarity and to provide additional guidance regarding: Credits allowed to a partner or shareholder for taxes paid to another state by a partnership or S corporation; The various elements involved in the calculation of the credit limitations, including gross Colorado tax, modified adjusted federal gross income, and income derived from sources in another state; and Redeterminations to correct the amount of the credit claimed. |
| Purpose/Objective of Rule |
The purpose of the amendments to this rule is to reorganize and revise the existing rule to improve clarity and to provide additional guidance regarding:
• Credits allowed to a partner or shareholder for taxes paid to another state by a partnership or S corporation;
• The various elements involved in the calculation of the credit limitations, including gross Colorado tax, modified adjusted federal gross income, and income derived from sources in another state; and
• Redeterminations to correct the amount of the credit claimed. |
| Basis And Purpose |
BasisAndPurposeAttachment2023-00315.docx
|
| Submitted in response to issues raised by COLS/OLLS? |
No
|
| Is this rule adopted in response to recent legislation? |
Yes
|
| Recent legislation bill number |
SB22-124
|
| Hearing Date |
07/18/2023 |
| Hearing Time |
10:00 AM |
| Hearing Location |
1881 Pierce St. Lakewood CO 80214 - Virtual Hearing Available |
| Contact Name |
Josh Pens |
| Contact Title |
Director |
| Contact Telephone |
3038665627 |
| Contact email |
dor_taxrules@state.co.us |