§ 39-22-342 — Definitions

Colorado § 39-22-342

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

Text

As used in this subpart 3, unless the context
otherwise requires:

(1) Electing pass-through entity means, with respect to a taxable period, an
S corporation or partnership that has made the election under section 39-22-343
with respect to the taxable period.

(2) Electing pass-through entity owner means, with respect to an S
corporation, a shareholder of the S corporation and, with respect to a partnership, a
partner in the partnership; except that a partner does not include a C corporation
that is unitary with the partnership.

(3) Income attributable to the state means, with respect to an S
corporation, the portion of the items of income, gain, loss, or deduction of the S
corporation apportioned or allocated to this state in accordance with the provisions
of section 39-22-321 (1) and (2), and, with respect to a partnership, the portion of
the income, gain, loss, deduction, or credit of the partnership derived from sources
within Colorado determined in accordance with the provisions of section 39-22-203.

(4) Income not attributable to the state means all items of income, gain,
loss, or deduction of an electing pass-through entity other than income attributable
to the state.

(5) Resident electing pass-through entity owner means an electing pass-through entity owner that is a resident of Colorado as defined in section 39-22-103
(6), (7), (8), (9), and (10).

(6) Taxable period means any taxable year or portion of a taxable year
during which a corporation is an S corporation or a noncorporate entity is a
partnership.

Legislative History

Source: L. 2021: Entire subpart added, (HB 21-1327), ch. 300, p. 1801, � 1, effective June 23.