29 Apr Colorado Department of Revenue Private Letter Rulings
The Colorado Department of Revenue is now accepting requests for general information letters. This program was previously suspended because of significant shortfalls in the state’s revenue and reductions in the department’s operating budget. General information letters provide businesses and individuals with assistance on tax issues that are not specifically addressed in department publications (such as form instructions, FYIs and regulations).
The department continues to offer private letter rulings. These rulings provide taxpayers with a comprehensive analysis and fact-specific answers on most tax issues. Because these rulings are binding on the department, they provide taxpayers with the certainty of knowing what their tax obligations are on relatively complex tax issues or in unusual fact situations. Rulings are not binding on the taxpayer. Most private letter ruling can be completed for the base fee of $500.
For more information about the general information letters program, including how to submit a letter go to www.TaxColorado.com and click on Tax Library, then Rulings.