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Adopted - Colorado Net Operating Losses and Foreign Source Income Exclusion Rules

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On April 5, 2023, the Colorado Department of Revenue, Division of Taxation, adopted four income tax rules regarding Colorado net operating losses and foreign source income exclusion. The adoption was based on the public rulemaking hearing held on January 19, 2023.

Prior to the public rulemaking hearing, the Department held a workgroup meeting on December 7, 2021, regarding the Colorado net operating losses rules, and held a workgroup meeting on May 18, 2022, regarding the foreign source income and corporate subtraction for section 78 dividends rules. The Department also solicited public comment on the Colorado net operating losses rules from September 28, 2022, through November 4, 2022, and solicited public comment on the foreign source income and corporate subtraction for section 78 dividends rules from September 28 through November 4, 2022. 

Copies of the adopted rules, dates of publication in the Colorado Register, and effective dates may be found on the Secretary of State’s website at the links below. 

Rule 39-22-504-1. Colorado Net Operating Losses for Individuals, Estates, and Trusts.
Rule 39-22-504-2. Colorado Net Operating Losses for C Corporations.
Rule 39-22-303(10). Foreign Source Income.
Rule 39-22-304(3)(j). Corporate Subtraction for Section 78 Dividend.