Colorado § 39-22-105 Alternative minimum tax

Colorado Statutes

§ 39-22-105 — Alternative minimum tax

Colorado § 39-22-105

Title 39Taxation

Art.Income Tax

This text of Colorado § 39-22-105 (Alternative minimum tax) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 39-22-105 (2026).

Text

(1)With respect to each taxable year commencing on or after January 1, 1987, but prior to January 1, 2000, for every individual, estate, and trust, in addition to the tax imposed in section 39-22-104, a tax is imposed in an amount equal to the excess of:

(a)Three and seventy-five one-hundredths percent of the Colorado alternative minimum taxable income, as determined pursuant to subsection (2) of this section; over

(b)The tax imposed in section 39-22-104. (1.5) With respect to each taxable year commencing on or after January 1, 2000, for every individual, estate, and trust, in addition to the tax imposed in section 39-22-104, a tax is imposed in an amount equal to the excess of:

(a)Three and forty-seven one-hundredths percent of the Colorado alternative minimum taxable inco

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(1) With respect to each taxable year
commencing on or after January 1, 1987, but prior to January 1, 2000, for every
individual, estate, and trust, in addition to the tax imposed in section 39-22-104, a
tax is imposed in an amount equal to the excess of:

(a) Three and seventy-five one-hundredths percent of the Colorado
alternative minimum taxable income, as determined pursuant to subsection (2) of
this section; over

(b) The tax imposed in section 39-22-104.

(1.5) With respect to each taxable year commencing on or after January 1,
2000, for every individual, estate, and trust, in addition to the tax imposed in section
39-22-104, a tax is imposed in an amount equal to the excess of:

(a) Three and forty-seven one-hundredths percent of the Colorado
alternative minimum taxable income, as determined pursuant to subsection (2) of
this section; over

(b) The tax imposed in section 39-22-104.

(2) (a) The Colorado alternative minimum taxable income shall be the federal
alternative minimum taxable income, as determined pursuant to section 55 of the
internal revenue code, minus the applicable federal exemptions allowed pursuant
to such section, with the modifications provided in section 39-22-104; except that
any state or local bond interest included in the federal alternative minimum taxable
income shall not be added back in determining the Colorado alternative minimum
taxable income, and any interest income from obligations of the state of Colorado
or any political subdivision thereof which is exempt from the Colorado tax imposed
pursuant to the provisions of section 39-22-104 (3)(b) shall be subtracted from the
federal alternative minimum taxable income to the extent included therein in
determining Colorado alternative minimum taxable income.

(b) In any case, should the tax determined under the provisions of this
section for a taxable year beginning on or after January 1, 1987, but before January
1, 1988, exceed the tax imposed by this section as it existed on June 22, 1987, then
only the smaller tax shall apply.

(3) (a) For taxable years beginning on or after January 1, 1988, but prior to
January 1, 2000, each individual, estate, and trust shall be allowed a credit against
the tax imposed by this part 1 in an amount equal to eighteen percent of the credit
allowed for the same tax year by section 53 of the internal revenue code.

(b) For taxable years beginning on or after January 1, 2000, each individual,
estate, and trust shall be allowed a credit against the tax imposed by this part 1 in
an amount equal to twelve percent of the credit allowed for the same tax year by
section 53 of the internal revenue code.

(4) In the case of a nonresident taxpayer, the tax imposed by subsections (1)
and (1.5) of this section and the credit allowed by subsection (3) of this section shall
be apportioned in the ratio of the modified federal alternative minimum taxable
income from Colorado sources over the total modified federal alternative minimum
taxable income.

Legislative History

Source: L. 87: Entire part R&RE, p. 1429, � 2, effective June 22. L. 88: Entire section R&RE, p. 1312, � 3, effective May 29. L. 2000: IP(1), (3), and (4) amended and (1.5) added, p. 1413, � 2, effective August 2.