Colorado § 39-22-329 Tax credits

Colorado Statutes

§ 39-22-329 — Tax credits

Colorado § 39-22-329

Title 39Taxation

Art.Income Tax

This text of Colorado § 39-22-329 (Tax credits) 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. § 39-22-329 (2026).

Text

(1)For the purposes of section 39-22-108, each resident shareholder shall be considered to have paid a tax imposed on each resident shareholder in an amount equal to each resident shareholder's pro rata share of any net income tax paid by the S corporation to a state which does not measure the income of shareholders of an S corporation by reference to the income of the S corporation. For the purposes of this section, the term net income tax means any tax imposed on, or measured by, an S corporation's net income.

(2)Each shareholder of an S corporation shall be allowed a credit against the tax imposed by section 39-22-104 in an amount equal to each shareholder's pro rata share of the tax credits described in sections 39-30-103.5 to 39-30-105.6 earned by the S corporation.

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(1) For the purposes of section 39-22-108, each
resident shareholder shall be considered to have paid a tax imposed on each
resident shareholder in an amount equal to each resident shareholder's pro rata
share of any net income tax paid by the S corporation to a state which does not
measure the income of shareholders of an S corporation by reference to the income
of the S corporation. For the purposes of this section, the term net income tax
means any tax imposed on, or measured by, an S corporation's net income.

(2) Each shareholder of an S corporation shall be allowed a credit against
the tax imposed by section 39-22-104 in an amount equal to each shareholder's pro
rata share of the tax credits described in sections 39-30-103.5 to 39-30-105.6
earned by the S corporation.