Colo. Code Regs. 39-22-303.6-15

Current through Register Vol. 47, No. 20, October 25, 2024

Rule 39-22-303.6-15 - Election to Treat All Income as Apportionable Income

Basis and Purpose. The bases of this rule are §§ 39-21-112, 39-22-301, 39-22-303, 39-22-303.6, C.R.S. The purpose of this rule is to clarify how a taxpayer makes an election to treat all income as apportionable income.

(1) Every year, taxpayers may elect to treat all income as apportionable income.

(a) The election to treat all income as apportionable income must be made on or before the extended due date of the return (the fifteenth day of the tenth month following the close of the tax year) by marking the appropriate box on the original return.

(b) Once the original return has been filed for the year, the election may not be changed even if the extended due date for the year has not passed.

(c) Filing a return without making the election as provided in paragraph (1)(a) constitutes the non-exercise of the election for that tax year, even if the return is calculated with all income as apportionable income.

(d) The failure to file a return prior to the extended due date of the return constitutes the non-exercise of the election for that tax year.

(2) If the election described in this rule is made for the income tax year, all income of the taxpayer is apportionable income and is included in the denominator and, if appropriate, the numerator of the taxpayer's receipts factor if not excluded pursuant to §§ 39-22-303.6(6)(d)(III) or (6)(f), C.R.S.

39-22-303.6-15

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