Income 54: Nonresident Partners and Shareholders of Partnerships and S Corporations

The Colorado Department of Revenue has finally revised its guidelines in FYI Income 54 regarding people who do not live in Colorado but are partners and/or shareholders of partnerships and/or S corporations in Colorado, ensuring that pass-through entities pay Colorado income tax on their Colorado-source income. This #EnrolledAgent says #AboutTime! According to the revised guidelines, this requirement…

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Colorado Year End Tax Update: Focus on USE TAX – 50 Points of Light

It is that time of year again where we work ourselves into a tizzy finishing off the year “strong” and simultaneously enduring another holiday season whilst purportedly planning for a new year. YIKES! With internet sales exploding it is a good idea to review each transaction you make to know if sales tax is being…

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