§ 39-26-401 — Definitions

Colorado § 39-26-401

• Jurisdiction: Colorado
• Title 39: Taxation
• Art.: Sales and Use Tax

Text

As used in this part 4, unless the context otherwise
requires:

(1) Biotechnology means:

(a) The application of technologies to produce or modify products, to
develop microorganisms for specific uses, to identify targets for small
pharmaceutical development, or to transform biological systems into useful
processes or products; and

(b) The potential endpoints of the resulting products, processes,
microorganisms, or targets are for improving human or animal health-care
outcomes.

(2) Clean technology means:

(a) Renewable energy generation technologies, including but not limited to
solar, wind, biofuel, and geothermal energy generation technologies;

(b) Products and technologies used in renewable energy development and
generation on a commercial scale; or

(c) Products and technologies that enhance the efficient extraction,
collection, storage, distribution, production, or consumption of energy from any
type of source.

(d) Repealed.

(3) Medical technology means a therapeutic or diagnostic machine or tool
used to improve human or animal health.

(4) Qualified biotechnology taxpayer means a C corporation, as defined in
section 39-22-103 (2.5), a partnership, as defined in section 39-22-103 (5.6), a
limited liability company that is not a C corporation, an S corporation, as defined in
section 39-22-103 (10.5), or a sole proprietorship that purchases, stores, uses, or
consumes tangible personal property to be used in Colorado directly and
predominately in research and development of biotechnology.

(5) Qualified medical technology or clean technology taxpayer means a
taxpayer that:

(a) Is a C corporation, as defined in section 39-22-103 (2.5); a partnership, as
defined in section 39-22-103 (5.6); a limited liability company that is not a C
corporation; an S corporation, as defined in section 39-22-103 (10.5); or a sole
proprietorship;

(b) Employs thirty-five or fewer full-time employees in Colorado;

(c) Is headquartered in Colorado or has more than fifty percent of its
employees in Colorado; and

(d) Conducts research and development of medical technology or clean
technology.

(6) Research and development means qualified research as defined by 26
U.S.C. sec. 41 (d)(1).

(7) Tangible personal property includes capital equipment, instruments,
apparatus, and supplies used in laboratories, including, but not limited to,
microscopes, machines, glassware, chemical reagents, computers, computer
software, and technical books and manuals.

Legislative History

Source: L. 99: Entire part added, p. 609, � 2, effective May 17. L. 2009: Entire part amended, (HB 09-1035), ch. 371, p. 2011, � 1, effective August 5. L. 2015: (2)(b), (2)(c), (3), and (5) amended and (2)(d) repealed, (HB 15-1180), ch. 227, p. 845, � 1, effective August 5.