Statutes, codes, and regulations
Colorado Administrative Code
Department 200 - Department of RevenueDivision 201 - Taxation Division
Rule 1 CCR 201-2 - INCOME TAX
Rule 39-22-108.5 - Dual Resident Trust Credit

Colo. Code Regs. 39-22-108.5

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Current through Register Vol. 47, No. 20, October 25, 2024
Rule 39-22-108.5 - Dual Resident Trust Credit
(1)Limitations.
(a) A taxpayer cannot claim both the dual resident trust credit and the credit for tax paid to another state (§ 39-22-108, C.R.S.) for the same tax year. If a taxpayer qualifies for both credits for the same tax year, the taxpayer shall elect which credit will be claimed on the return.
(b) The credit is not available to a trust that became a Colorado resident trust prior to May 26, 2006.
(c) The credit is available for tax years beginning on or after January 1, 2006.
(d) Any excess credit is not refundable and cannot be carried forward or back to another tax year.
(2)Documentation.
(a) A taxpayer claiming a dual resident trust credit shall file a copy of the income tax return from the other state(s) with the Department of Revenue at the time of filing the Colorado tax return in which the credit is claimed.
(b) A taxpayer who electronically files the Colorado income tax return must include such information from the other state's tax return as may be required by the Department and submit a written copy of the same to the Department of Revenue upon request.
(c) Documentation to support the tax return from another state must also be submitted to the Department of Revenue upon request.

39-22-108.5

Colorado Register, Vol 37, No. 14. July 25, 2014, effective 8/14/2014
37 CR 18, September 25, 2014, effective 10/15/2014
37 CR 19, October 10,2014, effective 10/30/2014
37 CR 22, November 25, 2014, effective 12/16/2014
38 CR 04, February 25, 2015, effective 3/17/2015
38 CR 07, April 10, 2015, effective 4/30/2015
38 CR 11, June 10, 2015, effective 6/30/2015
38 CR 22, November 25, 2015, effective 12/15/2015
38 CR 24, December 25, 2015, effective 1/14/2016
38 CR 24, December 25, 2015, effective 1/19/2016
39 CR 01, January 10, 2016, effective 1/30/2016
39 CR 16, August 25, 2016, effective 9/14/2016
40 CR 08, April 25, 2017, effective 5/15/2017
40 CR 12, June 25, 2017, effective 7/15/2017
40 CR 16, August 25, 2017, effective 9/14/2017
40 CR 23, December 10, 2017, effective 1/1/2018
41 CR 14, July 25, 2018, effective 8/14/2018
41 CR 20, October 25, 2018, effective 11/14/2018
42 CR 02, January 25, 2019, effective 12/18/2018
42 CR 02, January 25, 2019, effective 12/18/2018, expires 4/17/2019
42 CR 06, March 25, 2019, effective 4/14/2019
43 CR 04, February 25, 2020, effective 3/16/2020
43 CR 13, July 10, 2020, effective 6/2/2020
43 CR 17, September 10, 2020, effective 9/30/2020
44 CR 03, February 10, 2021, effective 3/2/2021
44 CR 07, April 10, 2021, effective 4/30/2021
44 CR 08, April 25, 2021, effective 5/15/2021
45 CR 01, January 10, 2022, effective 1/30/2022
45 CR 04, February 25, 2022, effective 3/17/2022
45 CR 05, March 10, 2022, effective 3/30/2022
46 CR 11, June 10, 2023, effective 5/2/2023
46 CR 09, May 10, 2023, effective 5/30/2023