Information about the recent activities of the Office of Tax Policy is provided below. This information includes new and revised publications, rulemaking activities, and recently published letter rulings and information letters.
Recently Published Private Letter Rulings (PLR) and General Information Letters (GIL)
- PLR-25-006 - Electing Settlement Trust’s Taxable Income and Withholding of Distribution - An electing Alaska Native Settlement Trust may not take the section 661(a) deduction into account in computing its Colorado income tax and is not required to withhold tax on beneficiaries’ distributive shares of net income from the rental of Taxpayer’s building in Colorado.
- PLR-26-002 - Receipts for Income Apportionment - Gross receipts from a Colorado partnership’s sale of Colorado real estate are not included in receipts for the purpose of calculating the apportionment factor that determines Company’s Colorado-source apportionable income under section 39-22-303.6, C.R.S.
New and Revised Publications
- Income Tax Topics: Administrative Adjustment Requests – This new publication discusses various Colorado requirements established by House Bill 23-1277 and our recently adopted rule for partnerships that file administrative adjustment requests with the IRS.
- Income Tax Topics: Partnership Audit Adjustments – This new publication discusses various Colorado requirements established by House Bill 23-1277 and our recently adopted rule for partnerships that are audited by the IRS.
Rulemaking Activities
- Mandatory Electronic Filing and Payment – We recently adopted proposed rules that mandate electronic filing and payment for various taxes.
- Sales Tax Filing Schedules – We recently adopted proposed rules to amend Rule 39-26-109 to increase the thresholds for annual and quarterly filing frequencies for sales tax returns.
- Motor Vehicle Daily Rental Fees – We recently requested public input regarding a draft of a new rule on the motor vehicle daily rental fees.
- Sales Tax on Leases – We recently held a stakeholder workgroup to discuss a revised draft rule regarding sales tax on leases.
- Tobacco Products and Nicotine Products Taxes – We recently held a stakeholder workgroup for two of the draft rules defining certain terms used in the statutory definitions of “manufacturer’s list price.”