Colorado § 39-22-323 Modification and characterization of income

Colorado Statutes

§ 39-22-323 — Modification and characterization of income

Colorado·Title 39 Taxation·Art. Income Tax

(1)An S corporation's income attributable to the state shall, for the purposes of section 39-22-322, be subject to the modifications provided in section 39-22-304.

(2)Each resident shareholder's pro rata share of the S corporation's income not attributable to the state shall, for the purposes of section 39-22-322 (2), be subject to the modifications provided in section 39-22-104.

(3)The character of any S corporation item taken into account by a shareholder of an S corporation pursuant to section 39-22-322 (2) shall be determined as if such item were received or incurred by the S corporation and not its shareholder.

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(1) An S
corporation's income attributable to the state shall, for the purposes of section 39-22-322, be subject to the modifications provided in section 39-22-304.

(2) Each resident shareholder's pro rata share of the S corporation's income
not attributable to the state shall, for the purposes of section 39-22-322 (2), be
subject to the modifications provided in section 39-22-104.

(3) The character of any S corporation item taken into account by a
shareholder of an S corporation pursuant to section 39-22-322 (2) shall be
determined as if such item were received or incurred by the S corporation and not
its shareholder.

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