§ 39-32-105 — Credit against tax - investment in technology infrastructure

Colorado § 39-32-105

• Jurisdiction: Colorado
• Title 39: Taxation
• Art.: Rural Technology Enterprise Zone Act

Text

(1)
There shall be allowed to any person as a credit against the tax imposed by article
22 of this title, for income tax years commencing on or after January 1, 1999, but
prior to January 1, 2005, an amount equal to ten percent of the amount of the total
investment made during such years in technology infrastructure required to provide
internet access in rural technology enterprise zones. Such credit may be claimed
only for specific capital investments in technology infrastructure that will qualify
for income tax credits in such zone as specified by the public utilities commission
pursuant to section 39-32-104 (1)(d). The credit claimed by a person pursuant to this
section shall not exceed one hundred thousand dollars in any one tax year.

(2) If the credit allowed under this section exceeds the income taxes
otherwise due on the claimant's income, the amount of the credit not used as an
offset against income taxes may be carried forward as a tax credit against
subsequent years' income tax liability for a period not to exceed ten years and shall
be applied first to the earliest years possible.

Legislative History

Source: L. 98: Entire article added, p. 697, � 1, effective May 18.