Colorado § 39-23.5-110 Penalty

Colorado Statutes

§ 39-23.5-110 — Penalty

Colorado § 39-23.5-110

Title 39Taxation

Art.Colorado Estate Tax

This text of Colorado § 39-23.5-110 (Penalty) 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. § 39-23.5-110 (2026).

Text

(1)If any person fails to pay any tax by the date due under the provisions of this article, there shall be collected as a penalty for such failure the greater of the sum of fifteen dollars or five percent of the amount of such tax if the failure is for not more than one month, with an additional five percent for each additional month or fraction thereof during which such failure continues, not exceeding twenty percent in the aggregate. The executive director may reduce or waive the penalty imposed by this subsection (1) for reasonable cause.

(2)If any person fraudulently or willfully fails to file any return under the provision of this article, there shall be collected as a penalty for such failure the sum of seventy-five dollars or one hundred percent of the amount of the tax,

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(1) If any person fails to pay any tax by the date due
under the provisions of this article, there shall be collected as a penalty for such
failure the greater of the sum of fifteen dollars or five percent of the amount of
such tax if the failure is for not more than one month, with an additional five percent
for each additional month or fraction thereof during which such failure continues,
not exceeding twenty percent in the aggregate. The executive director may reduce
or waive the penalty imposed by this subsection (1) for reasonable cause.

(2) If any person fraudulently or willfully fails to file any return under the
provision of this article, there shall be collected as a penalty for such failure the
sum of seventy-five dollars or one hundred percent of the amount of the tax, if any,
whichever is greater.

(3) If any person files a fraudulent or willfully false return under the
provisions of this article, there shall be collected as a penalty the sum of one
hundred dollars or one hundred fifty percent of the amount of the tax, if any,
whichever is greater.

(4) If, after determination and assessment of any tax imposed by this article,
any person fails to pay the same within the time specified by any notice and
demand sent to him by the executive director, there shall be collected as a penalty
for such failure a sum equal to fifteen percent of the amount of the tax demanded.

(5) If any person fraudulently fails to pay any tax when due under the
provisions of this article or willfully seeks to evade the payment thereof, there shall
be collected as a penalty for such failure a sum equal to one hundred fifty percent
of the amount of the tax.

(6) In the case of failure to file the Colorado return on the date prescribed by
section 39-23.5-107, determined with regard to any extension of time for filing,
there shall be collected as a penalty for such failure an amount equal to five
percent of the amount of the tax due under this article, with an additional five
percent per month or portion thereof, during which such failure continues, not
exceeding twenty percent in the aggregate. If a similar penalty for failure to file
timely the federal return for estate taxes is waived, such waiver shall be deemed to
constitute reasonable cause for purposes of this section. The executive director
may reduce or waive the penalty imposed by this subsection (6) for reasonable
cause.

(7) All of the penalties provided in subsections (1) to (6) of this section shall
be cumulative and shall be collected at the same time and in the same manner as
the tax, with the exception that, if the penalties provided for in subsections (1) and
(6) of this section both apply, then only the larger of the two penalties shall be
assessed, or, if equal, only one penalty shall apply.

Legislative History

Source: L. 79: Entire article added, p. 1434, � 16, effective July 3. L. 85: Entire section R&RE, p. 1256, � 7, effective January 1, 1986. L. 87: (1), (6), and (7) amended, p. 1461, � 2, effective April 22.