Colorado DOR is altering income, gross sales, and excise tax laws to satisfy current legislative modifications

April 2, 2021, 5:00 a.m.

The Colorado Department of the Treasury enacted regulations on March 17th to amend individual income, corporate income, trust income, sales and use, and excise taxes to comply with recently passed laws. The rules include measures: 1) Clarification that income taxpayers cannot apply for both a charitable contribution deduction for the donation of a gross maintenance relief and the government gross maintenance relief loan based on the donation of the same relief; 2) Clarification of the requirements for the use of the Preceptor Credit for rural basic services; 3) request electronic filing of cigarette and tobacco products and payment of tax by electronic transfer; …

© 2021 The National Affairs Bureau, Inc.

All rights reserved