§ 39-36-106 — Department of revenue - electronic filings - report - rules

Colorado § 39-36-106

• Jurisdiction: Colorado
• Title 39: Taxation
• Art.: CHIPS Zone Act

Text

(1) (a)
For the 2023 income tax year and each income tax year thereafter through the
2035 income tax year, any taxpayer that claims one or more income tax credits
pursuant to this article 36 shall file a state income tax return with the department
in an electronic format.

(b) A taxpayer must submit the electronic state income tax return required
under subsection (1)(a) of this section together with:

(I) A certification form executed by the CHIPS zone administrator pursuant
to section 39-36-104 (5)(b) for each income tax credit claimed pursuant to this
article 36;

(II) Any waiver certificate issued by the commission to the taxpayer under
section 39-30-104 (2)(c)(II) waiving the limit on the amount of the taxpayer's
qualified investment tax credit for the income tax year;

(III) A refund election statement on a form prescribed by the department for
each tax credit claimed pursuant to this article 36 for which the taxpayer elects to
receive a refund pursuant to section 24-46-108;

(IV) A refund certificate issued by the commission to the taxpayer under
section 24-46-108 approving each income tax credit claimed pursuant to this
article 36 for which the taxpayer elects to receive a refund; and

(V) A carryforward schedule including the type and amount of each income
tax credit claimed pursuant to this article 36 that the taxpayer intends to use in a
subsequent tax year.

(2) The documents required under subsection (1)(b) of this section must be
filed with the department not later than the due date, including extensions, for
filing the taxpayer's state income tax return for the income tax year in which the
income tax credits are claimed pursuant to this article 36.

(3) (a) For the 2023 income tax year and each income tax year thereafter
through the 2035 income tax year, the department shall aggregate and report data
on all of the income tax credits that are claimed pursuant to this article 36 for each
income tax year. The department shall categorize such aggregated data by the
date that the income tax credit was certified by the CHIPS zone administrator, the
specific income tax credit allowed pursuant to this article 36 that each taxpayer
was authorized to claim, and the total amount of the income tax credits claimed for
each income tax credit allowed pursuant to this article 36.

(b) The department shall submit the data collected pursuant to subsection
(1)(b)(V) of this section and the data aggregated pursuant to subsection (3)(a) of this
section to the office on August 1, 2023, and on August 1 each year thereafter
through August 1, 2036.

(4) The executive director of the department, in consultation with the
commission and the office, may promulgate rules as necessary for the department
to administer and enforce any provisions of this article 36.

Legislative History

Source: L. 2023: Entire article added, (HB 23-1260), ch. 227, p. 1195, � 7, effective May 20. L. 2025: (1)(b)(II) amended, (SB 25-300), ch. 428, p. 2458, � 62, effective August 6.