Skip to main content
Colorado General AssemblyToggle Main Menu
Agency NameToggle Agency Menu
SB19-233

Holding Company Income Tax Combined Report

Concerning combined reporting by a corporation for Colorado state income tax purposes.
Session:
2019 Regular Session
Subject:
Fiscal Policy & Taxes
Bill Summary

Two or more corporations controlled by the same interests are required to file a combined report in certain instances for apportioning income for Colorado income tax purposes. The Colorado court of appeals recently interpreted existing law to exclude all holding companies purportedly without property or payroll from combined reports. The bill clarifies that only corporations with property and payroll located outside the United States are excluded from a combined report. The bill further clarifies when the treatment of the activities of a partnership is treated as the activity of a member of an affiliated group of corporations.


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Status

Introduced
Passed

Menu

Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Sen. P. Lee
Rep. M. Gray, Rep. M. Snyder

Sponsor

Co-sponsor

Sen. L. Court, Sen. D. Moreno
Rep. S. Lontine