Colorado § 39-22-305 Consolidated returns

Colorado Statutes

§ 39-22-305 — Consolidated returns

Colorado § 39-22-305

Title 39Taxation

Art.Income Tax

This text of Colorado § 39-22-305 (Consolidated returns) 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. § 39-22-305 (2026).

Text

(1)An affiliated group of C corporations, as defined in section 1504 of the internal revenue code, may elect to make a consolidated return with respect to the corporate income tax imposed by section 39-22-301 (1) for the taxable year in lieu of separate returns. The making of a consolidated return shall be upon the condition that all C corporations which at any time during the taxable year have been members of the affiliated group consent to be included in such return. The making of a consolidated return shall be considered as such consent. Such election may not be revoked in less than four years unless approved by the executive director.

(2)The executive director shall prescribe such regulations as the executive director may deem necessary in order that the tax liability of an

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(1) An affiliated group of C corporations,
as defined in section 1504 of the internal revenue code, may elect to make a
consolidated return with respect to the corporate income tax imposed by section
39-22-301 (1) for the taxable year in lieu of separate returns. The making of a
consolidated return shall be upon the condition that all C corporations which at any
time during the taxable year have been members of the affiliated group consent to
be included in such return. The making of a consolidated return shall be considered
as such consent. Such election may not be revoked in less than four years unless
approved by the executive director.

(2) The executive director shall prescribe such regulations as the executive
director may deem necessary in order that the tax liability of any affiliated group of
C corporations making a consolidated return and of each C corporation in the group,
both during and after the period of affiliation, may be returned, determined,
computed, assessed, collected, and adjusted, in such manner as clearly to reflect
the income tax liability and the various factors necessary for the determination of
such liability and as the executive director may deem necessary in order to prevent
avoidance of the tax liability.

Legislative History

Source: L. 64: R&RE, p. 771, � 1. C.R.S. 1963: � 138-1-39. L. 77: Entire section R&RE, p. 1797, � 1, effective May 18. L. 87: (1) amended, p. 1443, � 10, effective June 22. L. 92: Entire section amended, p. 2272, � 10, effective April 16.