This new law concerns the authority of a pass-through business entity to elect to pay state income taxes at the entity level, known euphemistically as Colorado’s SALT Parity Act. HB21-1327 authored by Representative Ortiz & Van Winkle and Senators Kolker and Woodward among other things added...
Colorado Tax Legislation Update As the Chair of the Government Relations Committee for the Colorado Society of Enrolled Agents outreach to legislators was provided on bills moving through the process this session as they pertained to matters of taxation. With special thanks to Heidi Morgan of Wagner...
Colorado tax law update 2022 starts with the recently enacted 3 new tax laws containing multiple corporate and individual income tax changes. H.B. 21-1311- Income Tax H.B. 21-1327 – State & Local Tax Parity Act for Business H.B. 20-1420 - Adjust Tax Expenditures For State...
The Tax Fairness for Coloradans package – is coal dead in Colorado? This is one of many questions arising out of HB21-1311 (Income Tax) and HB21-1312 (Insurance Premium Property Sales Severance Tax), combined legislation that expanded tax credits for working families and small businesses but hurt the coal...
The Colorado Department of Revenue 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 post breaks...
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....
The following items might seem new and/or different for Colorado taxpayers on the CO 104 Income Tax form, some are some are not. These points below basically represent some of the more persistent questions coming across my desk as part of year end tax planning. ...
Mostly Ugly. Colorado is the Wild, Wild West in many things - including taxing authority....