Colorado § 39-22-321 Definitions

Colorado Statutes

§ 39-22-321 — Definitions

Colorado·Title 39 Taxation·Art. Income Tax

For the purposes of this subpart 2, unless the context otherwise requires:

(1)Income attributable to the state means items of income, loss, deduction, or credit of the S corporation apportioned or allocated to this state pursuant to section 39-22-303.5, 39-22-303.6, or 39-22-303.7.

(2)Income not attributable to the state means all items of income, loss, deduction, or credit of the S corporation other than income attributable to the state.

(3)Post-termination transition period means that period defined in section 1377 (b)(1) of the internal revenue code.

(4)Pro rata share means the portion of any item attributable to an S corporation shareholder for a taxable period determined in the manner provided in, and subject to any election made under, section 1377 (a) or 1362 (e), as

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For the purposes of this subpart 2, unless the
context otherwise requires:

(1) Income attributable to the state means items of income, loss, deduction,
or credit of the S corporation apportioned or allocated to this state pursuant to
section 39-22-303.5, 39-22-303.6, or 39-22-303.7.

(2) Income not attributable to the state means all items of income, loss,
deduction, or credit of the S corporation other than income attributable to the state.

(3) Post-termination transition period means that period defined in section
1377 (b)(1) of the internal revenue code.

(4) Pro rata share means the portion of any item attributable to an S
corporation shareholder for a taxable period determined in the manner provided in,
and subject to any election made under, section 1377 (a) or 1362 (e), as the case
may be, of the internal revenue code.

(5) Taxable period means any taxable year or portion of a taxable year
during which a corporation is an S corporation.

Colorado § 39-22-321 (Definitions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 92: Entire section added, p. 2260, � 1, effective April 16. L. 2008: (1) amended, p. 966, � 9, effective January 1, 2009. L. 2019: (1) amended, (SB 19-241), ch. 390, p. 3477, � 54, effective August 2.