§ 39-22-206 — Foreign source income of export taxpayers

Colorado § 39-22-206

• Jurisdiction: Colorado
• Title 39: Taxation
• Art.: Income Tax

Text

If a partnership
qualifies as an export taxpayer, its partners may exclude from gross income for
Colorado income tax purposes such partners' distributive share of any such
partnership income or gain which constitutes foreign source income for federal
income tax purposes. For the purposes of this section, an export taxpayer means
any partnership which is subject to the provisions of this article and which sells fifty
percent or more of its product or products which are produced in Colorado in states
other than Colorado or in foreign countries or, if the gross receipts of such
partnership are derived from the performance of services, such services are
performed in Colorado by a partner or employee of the partnership and fifty
percent or more of such services provided by the partnership are sold or provided to
persons outside of Colorado.

Legislative History

Source: L. 93: Entire section added, p. 1320, � 3, effective June 6. L. 95: Entire section amended, p. 818, � 45, effective May 24.