Colorado C Corporation Income Tax Form
If a C Corporation that is registered in the State of Colorado is reporting its income tax to the state, it has to use this form. This form has to be completed and submitted along with the corporation’s income sources.
DownloadExtracted Text for Proper Search
(09/17/12)
1. First, complete your federal income tax return —
IRS Form 1120. You will need information from your
federal return to complete this return.
2. File the return for free using Revenue Online or file
electronically using e-filing software. You can file on
paper if you cannot file electronically, but please note
that filing on paper can increase return problems
and delay refunds. Returns
are due three and one-half
months after the close of
the taxable year.
Manage your account
File and pay online
Get started with Revenue Online today!
www.Colorado.gov/RevenueOnline
COLORADO
C-CORPORATION INCOME TAX BOOKLET
BOOKLET INCLUDES:
Instructions, Form 112 and Related Forms
3. If you owe the state, pay electronically through
Revenue Online. If you cannot pay online,
make your check or money order payable to the
Colorado Department of Revenue. Please print the
corporation’s Colorado account number and 2012
Form 112 on the check or money order.
Web
General Information
Corporate income tax returns are due 3½ months after the end
of your tax year, or by April 15, 2013 for traditional calendar year
filers. If you are unable to file by your prescribed due date, you
may file under extension. This will allow you an additional 6
months to file your return, or until October 15, 2013 for traditional
calendar year filers. However, the extension to file DOES NOT
allow you to extend your payment due date. You must pay at
least 90% of your tax liability by the original due date of your
return (or April 15th) and the remainder by the filing extension
due date (or October 15th) to avoid delinquent payment
penalties.
Penalties and Interest
If the 90% rule is NOT met by the original due date, then
delinquent penalty and interest will be assessed when you file
your return. If 90% or more of your tax liability is paid by the
original due date, and the remaining balance is paid by the
extension due date, no penalty will be assessed. However, you
will be billed interest, but only on the amount being paid by the
extension due date.
If after the original due date, you determine that you underpaid
your extension payment you should pay the additional tax as
soon as possible to avoid further accumulation of penalty and/or
interest.
Pay Online
Taxpayers can now visit www.Colorado.gov/RevenueOnline to
pay online. Online payments reduce errors and provide instant
payment confirmation. Revenue Online also allows users to
submit various forms and to monitor their tax account. DR
0158-C is not required if an online payment is made. Please
be advised that a nominal processing fee may apply to online
payments.
Pay by Electronic Funds Transfer (EFT)
EFT Debit and EFT Credit options are free services offered by
the Department. EFT services require pre-registration before
payments can be made. Visit www.Colorado.gov/revenue/eft for
more information.
Automatic Filing Extension
DETACH FORM
ON THIS LINE
Cut here and send only the coupon below. Help us save time and your tax dollars.
(0029) DR 0158-C (06/28/12) COLORADO DEPARTMENT OF REVENUE www.TaxColorado.com
2012 Payment Voucher for Extension of Time
for Filing a Colorado C Corporation
Income Tax Return 70
For the calendar year 2012 or the fiscal year beginning: ____________________ , 2012 ending: ___________________, 20 ___.
Return this voucher with check or money order payable to the Colorado Department of Revenue, Denver, Colorado 80261-0008. Write your Colorado Account Number or Federal Employer Identification Number and “2012 DR 0158-C” on your check or money order. Do not send cash. Enclose, but do not staple or attach, your payment with this voucher. File only if you are making an extension payment.
Corporation Name Colorado Account Number
Address Federal Employer Identification Number
City State ZIP
IF NO PAYMENT IS DUE, DO NOT FILE THIS FORM.The State may convert your check to a one time electronic banking transaction. Your bank account may be debited as early as the same day received by the State. If converted, your check will not be returned. If your check is rejected due to insufficient or uncollected funds, the Department of Revenue may collect the payment amount directly from your bank account electronically. (08)
Amount of Payment
$ .00 (Do not write in space below)
DR 0158-C (06/28/12) Web
The amount on the check and the amount entered on the payment
voucher must be the same. This will help maintain accuracy in your
tax account. Be sure to keep a copy of the money order or note the
check number with your tax records .
DO NOT submit a paper return if you have already filed
electronically.
Use the coupon below only if you cannot pay online or by EFT.
Estimated Ta x
Every C corporation subject to Colorado income tax must file Form
112EP, if it can reasonably expect the net tax liability to exceed
$5,000 during the taxable year. See publication FYI Income 51 for
more information.
Accounting Period and Method
The accounting period and method for Colorado income tax must
be the same accounting period and method as used for federal
income tax.
Account Numbers
The Colorado account number is 8 digits and must be listed in
addition to the Federal Employer Identification Number (FEIN) on
any form where requested. The Colorado account number used
on this form is usually the same number that is found on sales tax
licenses and forms related to wage withholding.
Line by Line Instructions
First, complete the federal income tax return to be filed with the
IRS. You will use information from that return to complete the
Colorado income tax return.
Section A
Mark the appropriate box related to your apportionment method.
Corporations doing business in multiple states must apportion their
taxable income to each state in which they conduct business. This
ensures the tax is paid to the state in which the income is earned
and taxable, and eliminates double taxation. We recommend
that you read publication FYI Income 59 for more information.
Generally, income is apportioned usi ng the single sales factor.
Instructions For Completing Form 112
S Corporations use Form 106
This filing guide will assist you with completing this Colorado
Income Tax Return. Once you finish the form, file it with a
computer, smartphone, or tablet using our free and secure
Revenue Online service at www.Colorado.gov/RevenueOnline
Or, you may file using private e-File software or with a paid tax
preparer. By filing your return electronically, you significantly reduce
the chance of errors and you will receive your refund much faster.
If you cannot file electronically for any reason, mail the enclosed
forms as instructed.
Please read through this guide before starting your return. All
Colorado forms and publications referenced in this guide are
available for download at www.TaxColorado.com — the official
Taxation Web site.
Filing Requirements
Each C corporation doing business in Colorado, or those who
derive income from Colorado sources, must file this form. Any
C corporation that is exempt from federal income tax is exempt
from Colorado income tax and from filing this form, unless the
C corporation must file a federal return for unrelated business
income. Any insurance company subject to the tax imposed on
gross premiums by §10-3-209, C.R.S. is exempt from Colorado
income tax. This form is not required for exempt C corporations.
Due Date
Corporate income tax returns are due 3½ months after the end of
your tax year, or by April 15, 2013 for traditional calendar year filers. If
you are unable to file by your prescribed due date, you may file under
extension. See DR 0158-C for more information about filing extensions.
This form MUST accompany your payment if you filed
electronically and wish to pay by check
The Department strongly recommends that you file using Revenue
Online or other electronic method and remit your payment
electronically or by EFT.
DETACH FORM
ON THIS LINE
Cut here and send only the coupon below. Help us save time and your tax dollars.
(0021) DR 0900C (07/09/12) COLORADO DEPARTMENT OF REVENUE www.TaxColorado.com
2012 C Corporation Income
Tax Payment Voucher
70
For the calendar year 2012 or the fiscal year beginning: ____________________ , 2012 ending: ___________________, 20 ___.
Return this voucher with check or money order payable to the Colorado Department of Revenue, Denver, Colorado 80261-0008. Write your Colorado Account Number or Federal Employer Identification Number and “2012 FORM 112” on your check or money order. Do not send cash. Enclose, but do not staple or attach, your payment with this voucher.
Corporation Name Colorado Account Number
Address Federal Employer Identification Number
City State ZIP
IF NO PAYMENT IS DUE, DO NOT FILE THIS FORM.The State may convert your check to a one time electronic banking transaction. Your bank account may be debited as early as the same day received by the State. If converted, your check will not be returned. If your check is rejected due to insufficient or uncollected funds, the Department of Revenue may collect the payment amount directly from your bank account electronically. (08)
Amount of Payment
$ .00 (Do not write in space below)
(continued on page 4)
Instructions For DR 0900C
DR 0900C (07/09/12) Web
Page 4
(continued from page 3)
Not Apportioning
The C corporation conducts business only in the state of Colorado.
Tax will be calculated on 100% of the Colorado taxable income.
Single Sales Factor
All business income must be apportioned using a single factor:
sales. Nonbusiness income may either be directly allocated to the
appropriate state or treated as business income, subject to the
single sales factor. Schedule SF is required if using this method,
and can be completed by clicking the appropriate EDIT button on
Revenue Online, otherwise attach to the paper return.
Gross Receipts
The C corporation that performs no Colorado activities other
than making sales, that does not own or rent real estate within
Colorado borders, and that generates annual Colorado gross sales
of $100,000 or less, may elect to pay tax on one-half percent of
the annual Colorado gross receipts – in lieu of paying the normal
income tax. We recommend that you read publication FYI Income
58 if this applies to you. If using this method, you must enter the
annual Colorado gross receipts on line 16, the calculated .5% tax
on line 17, and enter “gross receipt tax” on the dotted lines next to
each of these two lines.
Other Apportionment Method
When Colorado apportionment methods do not fairly measure
the Colorado-source income, the corporation may request (or the
Department might require) an alternative apportionment method.
Section B
Mark the appropriate box to designate a separate, consolidated, or
combined return.
There are four possible filing alternatives for C corporations. We
recommend that you read publication FYI Income 60 for additional
information.
Separate
For a single corporation, regardless of its membership in an
affiliated group. A single corporation cannot use this filing
alternative if it elects to be part of a consolidated return or if it is
required to be included in a combined filing.
Consolidated
For affiliated members of a group of corporations defined by §1504
Internal Revenue Code. However, only those members conducting
business in Colorado can be included in the consolidated return.
This filing alternative is binding for four years and requires consent
of the Colorado members of the group. Filing such a return shall be
deemed consent.
Combined
For affiliated members of a group of corporations defined by §39-
22-303, C.R.S. that meets at least half of the six-part intercompany
business relationship test for this and the preceding two years this
is a required filing alternative.
Combined/Consolidated
For an affiliated group filing a combined return, but who has a
member that filed a federal consolidated return with another
corporation, and the other corporation is conducting business
in Colorado but is not otherwise eligible to be included in the
combined report.
Taxable Income
Line 1
Enter the federal taxable income (or loss) from IRS Form 1120.
Line 2
Enter any amount from line 1 that is attributed to affiliated
corporations that are not included in this consolidated or combined
return.
Line 3
This line is automatically calculated by Revenue Online, or subtract
line 2 from line 1, if filing a paper return. This reflects the taxable
income of the federal pro-forma return included on the Colorado
form.
Additions
Line 4
Enter any federal net operating loss deduction claimed in the
computation of the federal taxable income. We recommend that
you read publication FYI Income 19 if this applies to you.
Line 5
Enter any Colorado income tax claimed as a deduction in the
computation of the federal taxable income.
Line 6
Enter the sum of all other qualifying additions. For this line, you
must further explain your basis for this adjustment. If you are using
Revenue Online, submit this explanation to your return electronically
with the E-Filer Attachment option. Otherwise, use the DR 1778 or
attach a written statement to your paper return. We recommend that
you read publication FYI Income 58 if this applies to you:
• Interest income – the amount of state or municipal obligations
that were not included in federal taxable income. DO NOT
include bond premium amortization, or any interest earned from
bonds issued by any state or political subdivision, excluding any
bonds issued by the State of Colorado or its political subdivisions
on or after May 1, 1980. Qualifying interest shall be net of any
expense required to be allocated thereto by the Internal Revenue
Code for federal income tax purposes. See publication FYI
Income 52 for more information.
• Foreign-source income . the amount of any income, war profits,
or excess profits taxes paid or accrued to any foreign country or
to any possession of the United States that were claimed as a
deduction of the federal return.
• Gross Conservation Easement charitable contribution – the
amount of any charitable contribution deduction claimed in 2012
for the donation of a conservation easement that qualified for
the Gross Conservation Easement credit. See publication FYI
Income 39 for more information.
Line 7
This line is automatically calculated by Revenue Online, or enter
the sum of lines 3 through 6, if filing a paper return.
Subtractions
Line 8
Enter any income that is included on line 1, which is derived from
any U.S. government bond interest and any interest or dividend
income on obligations securities of any authority, commission, or
instrumentality of the United States to the extent that such income
is exempt from state taxation by federal law. We recommend that
you read publication FYI Income 20 if this applies to you.
Page 5
Line 9
Enter any income that is included on line 1, which is derived from
foreign income that qualifies as excludable foreign-source income.
Excludable foreign-source income means taxable income from
sources outside the United States as used in §862 of the Internal
Revenue Code. Excludable foreign-source income shall also be
omitted in determining the Colorado sales factor on Schedule SF.
We recommend that you read publication FYI Income 58 if this
applies to you.
• The corporation has elected to claim foreign tax paid or accrued
as a deduction on the federal income tax return and therefore the
Colorado exclusion can equal that of the federal deduction.
• The corporation has elected to claim foreign tax paid or accrued
as a credit on the federal income tax return and therefore the
Colorado exclusion is calculated by excluding section 78 dividend
gross up from the total foreign-source income, then multiplying by
a fraction, the numerator of which is the federal foreign tax credit,
and the denominator being the foreign source income (excluding
section 78 dividend gross up), multiplied by the effective federal
corporation income tax rate (federal corporate income tax divided
by federal corporate taxable income). Excludable foreign-source
income may not exceed total foreign-source income excluding
section 78 dividend gross up. Foreign-source income from
a foreign corporation with an affiliated group of corporations
shall be determined without regard to §882(a)(2) of the Internal
Revenue Code.
Line 10
Enter up to $100,000 of any income that is included on line 1,
which is derived from Colorado-source capital gain. This is income
earned from the sale of real or tangible personal property that is
located in Colorado, was acquired on or after May 9, 1994, and
was continuously held for at least 5 years prior to the transaction
date from which the capital gains arise.
Complete and submit a DR 1316. Revenue Online allows you
to directly enter DR 1316 by clicking the EDIT button. Paper
filers should attach this form to their return. Take precaution to
completely fill out each item of this form. Be as detailed as possible,
especially when providing property descriptions, ownership, and
dates of acquisition and sale.
Line 11
Enter the sum of all other qualifying subtractions. For this line, you
must further explain your basis for this adjustment. If you are using
Revenue Online, submit this explanation to your return electronically
using the E-Filer Attachment option. Otherwise, use DR 1778 or
attach a written statement to your paper return. We recommend that
you read publication FYI Income 58 if this applies to you:
• Colo rado income tax refund –the amount of any Colorado
income tax refund that was included on line 3.
• Gross up provisions –the amount of any IRC section 78 gross
up provisions that was included on line 3.
• Various credits –the amount of any salary or wage expense
that was not allowed as a federal deduction by the IRS due to
the provisions of the Indian employment credit, work opportunity
credit, empowerment zone employment credit, orphan drug credit,
the credit for increasing research activities, employee retention
credit, welfare-to-work credit, or mine rescue team training credit.
Line 12
This line is automatically calculated by Revenue Online, or enter
the sum of lines 8 through 11, if filing a paper return.
Taxable Income
Line 13
This line is automatically calculated by Revenue Online, or
calculate your modified federal taxable income by subtracting line
12 from line 7, if filing a paper return.
Line 14
This line is automatically calculated by Revenue Online, or enter
the Colorado taxable income. For those filing a paper return, this
amount is transferred from line 13 if not apportioning income.
Otherwise, corporations that are apportioning income, this amount
shall be transferred from line 16 of Schedule SF.
Line 15
Enter the Colorado net operating loss deduction. New - starting
January 1, 2012, the Colorado net operating loss deduction is
limited to $250,000. This amount is calculated in the same manner
as the federal net operating loss deduction, except that in the case
of a corporation apportioning income, it is the part of the federal
net operating loss (as modified) that is from Colorado sources.
Colorado net operating losses may be carried forward 20 years
for tax years beginning on or after August 6, 1997. They may not
be carried back. Federal limitations on carryover losses between
predecessor and successor corporations apply to Colorado income
tax as well. We suggest that you read publication FYI Income 19 if
this applies to you.
LINE 16
This line is automatically calculated by Revenue Online, or
calculate your Colorado taxable income by subtracting line 15 from
line 14, if filing a paper return.
Ta x
Line 17
Calculate your Colorado tax. This is automatically entered by
Revenue Online. If filing a paper return, multiply line 16 by the tax
rate. The Colorado income tax rate is currently 4.63%, which is a
reduction from the 1999 tax rate of 4.75% and the 1998 (and prior)
rate of 5%.
Credits
Line 18
Complete Form 112CR, which will automatically enter the
value of this line by Revenue Online, or transfer the amount of
nonrefundable credits from line 73 if filing a paper return.
Line 19
Net Tax - this is automatically entered by Revenue Online. If filing a
paper return, subtract line 18 from line 17.
Line 20
Corporations required to recapture federal investment credits with
respect to Colorado assets, must recapture the “old” Colorado
investment credits as well. Include any investment credit recapture,
historic property preservation credit recapture, low income
housing credit recapture, or any other credit recapture. Submit an
attachment to Revenue Online, or a paper statement to your mailed
return that itemizes each recaptured amount calculated for this line.
Line 21
This line is automatically calculated by Revenue Online, or enter
the sum of lines 19 and 20, if filing a paper return.
Line 22
Enter the amount of credit for prepayments. Include the sum of the
following on line 22:
• Estimated tax payments for 2012
• Any overpayment from 2011 that was carried forward to 2012
• Extension payment(s)
• Payments remitted with DR 1079 to satisfy withholding
requirements for the sale of Colorado real estate
Line 23
Enter the amount of withholding reported on form W-2G made on
lottery or gambling winnings. This is rare and will not apply to most
taxpayers.
Page 6
Line 24
Complete Form 112CR, which will automatically enter the value of
this line by Revenue Online, or transfer the amount of refundable
innovative motor vehicle credit from line 74 if filing a paper return.
Credits carried forward from previous years cannot be refunded. If
the corporation is utilizing a credit carried forward from 2009, enter
the value on Form 112CR line 70. We recommend that you read
publication FYI Income 9 if this credit applies.
Line 25
This line is automatically calculated by Revenue Online, or enter
the sum of lines 22 through 24 if filing a paper return.
If the amount of line 21 exceeds the amount of line 25,
additional tax is due with this return and continue to line 26.
If not, go to line 31.
Line 26
Net tax due–this amount is calculated automatically by Revenue
Online. Or, subtract line 24 from line 21 if filing a paper return.
Line 27
Calculate any penalty owed for delinquent filing or payment. The
penalty is 5% of the net tax due for the first month after the due
date, and ½% for each additional month past the due date. The
minimum penalty is $5 and the maximum penalty is 12%. Or, if you
prefer not to calculate this penalty, the Department will bill you if due.
Line 28
Calculate any interest owed for delinquent filing or payment.
The interest rate is 3% of the net tax due. Or, if you prefer not to
calculate this interest, the Department will bill you if due. Interest on
any bill issued that remains unpaid after 30 days of issuance will
increase to 6%.
Line 29
To calculate this penalty, complete Form 205. Enter any estimated
tax penalty owed on this line.
Line 30
Total Tax Due –enter the sum of lines 26 through 29. Payment can
be made electronically at:
• www.Colorado.gov/RevenueOnline; or
• www.Colorado.gov/Revenue/EFT or
• mail to – Colorado Department of Revenue, Denver CO 80261-0006
Line 31
Overpayment –this amount is calculated automatically by
Revenue Online. Otherwise, subtract line 21 from line 25.
Line 32
Enter the amount, if any, you would like to be available for 2013
estimated tax.
Line 33
Refund –subtract line 32 from line 31. This is the amount of your
refund. You have the option of authorizing a transaction by the
Department to directly deposit these funds to your bank account.
Otherwise, a refund check will be mailed to the address you have
designated on this return. If you use Direct Deposit, you will receive
your refund 1 to 2 weeks faster than if you wait for a paper check.
Direct Deposit
Enter the routing and account numbers and account type. Include
hyphens, but do NOT enter spaces or special symbols. We
recommend that you contact your financial institution to ensure you
are using the correct information and that they will honor a direct
deposit.
Intercepted Refunds
The Department will intercept your refund if you owe back taxes or
if you owe a balance to another Colorado government agency or
the IRS.
Section C
Enter the name, phone, and address of the party responsible for
maintaining the books belonging to this corporation.
Section D
Enter the 6-digit North American Industry Classification (NAICS)
number that best describes the purpose of this business. Use the
same code used on the federal return.
Section E
Enter the year the corporation began doing business in Colorado.
Section F
Designate whether the paid preparer can discuss this return with
the Department. By completing this area of the return, you are
granting the designee the ability to:
• Provide any missing information needed for the processing of
your return; and
• Call the Department for information about your return, including
the status of your refund or processing time; and
• Receive upon request copies of notices, bills, or transcripts
related to your return; and
• Respond on your behalf to notices about math errors, intercepts,
and questions about the preparation of your return.
This designation does not allow the third party to receive your
refund check, bind you to anything (including any additional
tax liability), or otherwise represent you before the Colorado
Department of Revenue. If you would like to expand the designee’s
authorization, complete the DR 0145, Power of Attorney for
Department Administered Tax Matters.
Section
G – H complete the data as requested.
Signature
The law requires the return to be signed under penalty of perjury.
Persons authorized to sign this return must either be the president,
vice president, treasurer, assistant treasurer, chief accounting
officer, or other officer that is duly authorized to act on behalf of the
corporation. In cases where receivers, trustees in bankruptcy, or
assignees are operating the property or business of corporations,
such receivers, trustees, or assignees shall make returns for such
corporations in the same manner and form as corporations are
required to make returns.
Amendments
If an amended return is filed with the IRS, or if the IRS changes the
content of the return, an amendment must be filed with Colorado.
Use Revenue Online or the Form 112X to amend the Colorado
return. If the corporation operates in multiple states, the Department
will accept the revenue agent report (RAR) in lieu of an amended
return. DO NOT attach the RAR to Form 112X. Be sure to list the
Colorado account number on the RAR before mailing a copy to
Colorado Department of Revenue, Denver CO 80261-0006.
Caution: federal adjustments must be reported to the
Colorado Department of Revenue. The four-year statute of
limitations for assessment does not apply if the amended
information is not reported to the Department. The
Department can therefore assess at any time, and the statute
of limitations does not apply.
FORM 112 (07/12/12)COLORADO DEPARTMENT OF REVENUEDenver, CO 80261-0006
Name of Corporation Colorado Account Number
Address Federal Employer Identification Number
City State ZIP
Final Return .....................................
If you are submitting a statement disclosing a listed or reportable transaction, mark this box ............................................................
A. Apportionment of Income. This return is being filed for:
(42) A corporation not apportioning income; (43) A corporation engaged in interstate business apportioning income using single-factor apportionment (Schedule SF required); (44) A corporation engaged in interstate business apportioning income under special regulation;
(45) A corporation electing to pay a tax on its gross Colorado sales; (47) Other, federal form filed. _____________________________________________________
B. Separate/Consolidate/Combined Filing. This return is being filed by:
A single corporation filing a separate return; An affiliated group of corporations electing to file a consolidated return (Warning: such election is binding for four years). If your election was made in a prior year, enter the year of election here: _____________ (Schedule C required); An affiliated group of corporations required to file a combined return (Schedule C required).; An affiliated group of corporations required to file a combined return that includes another affiliated, consolidated group ( Schedule C required ).
Federal Taxable Income Round to the Nearest Dollar
1.
Federal taxable income from Form 1120 1 00
2. Federal taxable income of companies not included in this return 2 00
3. Net federal taxable income, line 1 minus line 2 3 00
Additions
4. Federal net operating loss deduction 4 00
5. Colorado income tax deduction 5 00
6. Other additions, include explanation 6 00
7. Total of lines 3 through 6 7 00
Subtractions
8. Exempt federal interest 8 00
9. Excludable foreign source income 9 00
10 . Colorado source capital gain (assets acquired on or after 5/9/94, held five years) 10 00
11. Other subtractions, include explanation 11 00
12 . Total of lines 8 through 11 12 00
Taxable Income
13 . Modified federal taxable income, line 7 minus line 12 13 00
14 . Colorado taxable income before net operating loss deduction 14 00
15 . Colorado net operating loss deduction (May not exceed $250,000) 15 00
16 . Colorado taxable income, line 14 minus line 15 16 00
17 . Ta x , 4.63% of the amount on line 16 17 00
Credits
18 . Total nonrefundable credits from line 73, Form 112CR (may not exceed tax on line 17) 18 00
19 . Net tax, line 17 minus line 18 19 00
20 . Recapture of prior year credits 20 00
(0023)
2012 - or-
COLORADO
C Corporation Income Tax
Form 1 12
Do Not Submit Federal Return, Forms or
Schedules when Filing this Return. Fiscal Year Beginning
____________ , 2012
ending
______________ , 20___
Departmental Use Only
Web
Form 112
Do Not Submit Federal Return, Forms or Schedules when Filing this Return\
.
21 . Total of lines 19 and 20 21 00
22 . Estimated tax and extension payments and credits 22 00
23 . W-2G Withholding from lottery winnings 23 00
24 . Refundable innovative motor vehicle credit from line 74 Form 112CR 24 00
25 . Total of lines 22 through 24 25 00
26 . Net tax due. Subtract line 25 from line 21 26 00
27 . Penalty 27 00
28 . Interest 28 00
29 . Estimated tax penalty due 29 00
30 . Total due. Enter the sum of lines 26 through 29 30 00
31 . Overpayment, line 25 minus line 21 31 00
32 . Amount from line 31 to carry forward for future year estimated tax 32 00
33 . Amount from line 31 to be refunded 33 00
Type:
Checking Savings
Rou\fing numbe\b
Accoun\f numbe\b
Pay Electronically at www.Colorado.gov/RevenueOnline or Mail and Make Checks Payable To:
Colorado Department of Revenue, Denver, CO 80261-0006
The State may convert your check to a one time electronic banking transaction. Your bank account may be debited as early as the same day received by the State. If converted, your check will not be returned. If your check is rejected due to insufficient or uncollected funds, the Department of Revenue may collect the payment amount directly from your bank account electronically.
C. The corporation’s books are in care of:Name Telephone Number
Address City State ZIP
D. Business code number per federal return (NAICS)
E. Year corporation began doing business in Colorado
F.
May the Colorado Department of Revenue discuss this return with the paid\
preparer shown below
(see instructions). Yes No
G. Kind of business in detail:
H. Has the Internal Revenue Service made any adjustments in the corporation’s income or tax or have you filed amended
federal income tax returns at any time during the last four years? Yes No
If Yes, for which year(s)? _____________________________________
Did you file amended Colorado returns to reflect such changes or submit copies of the Federal Agent’s reports? Yes No
Under penalties of perjury in the second degree, I declare that I have examined this return and to the best of my knowledge is true, correct and complete. De\
claration of preparer (other than taxpayer) is based on all information of which\
preparer has any knowledge.
Person or Firm preparing return (name, address and telephone number):
Signature and Title of Officer Date
Schedule SF—Single Factor Apportionment Schedule 2012
Do Not Submit Federal Return, Forms or Schedules when Filing this Return\
.
1. Total modified federal taxable income from line 13, page 1, Form 112. 1
Business Income Apportioned to Colorado By Use of the Revenue Factor
Do not include foreign source revenues modified out
on line 9, page 1, form 112: Colorado Total
2. Gross sales of tangible personal property 2
3. Gross revenue from services 3
4. Gross rents and royalties from real property 4
5. Gross proceeds from sales of real property 5
6. Taxable interest and dividend income 6
7. Gain from the sale of intangible personal property 7
8. Patent and copyright royalties 8
9. Revenue from the performance of purely personal services 9
10 . Total revenue (total of lines 2 through 9 in each column) 10
11. Line 10 (Colorado) divided by line 10 (Total) 11 %
Complete Lines 12 and 15 Only If Nonbusiness Income is Being Directly Allocated. If All Income is Being Treated as
Business Income, Enter 0 (Zero) on Lines 12 and 15.
12. Less income directly allocable (a) Net rents and royalties from real or tangible property ..
Nonbusiness
Income
Only
(b) Capital gains and losses
(c) Interest and dividends
(d) Patents and copyright royalties
(e) Other nonbusiness income
(f) Total income directly allocable [add lines (a) through (e)] 12
13 . Modified federal taxable income subject to apportionment by formula, line 1 less line 12 13
14 . Income apportioned to Colorado by formula, line 11 multiplied by line 13 14
15 . Add income directly allocable to Colorado:
Nonbusiness
Income
Only
(a) Net rents and royalties from real or tangible property
(b) Capital gains and losses
(c) Interest and dividends
(d) Patents and copyright royalties
(e) Other nonbusiness income
(f) Total income directly allocable [add lines (a) through (e)] 15
16 . Total income apportioned to Colorado, line 14 plus line 15. Enter on line 14, page 1, Form 112 16
17 . Pursuant to §39-22-303.5(6) C.R.S., taxpayer elects to treat nonbusiness income as business income for the tax year
ending __________, 20____.
Do Not Submit Federal Return, Forms or Schedules when Filing this Return\
.
Schedule C—Colorado Affiliations Schedule
No. Name And Address Of Corporation
B. Colorado
Identification
Number
C. Federal Employer
Identification
Number
D. Intercompany Business
Relationships
(See Instructions)
E. Mark ( )
If Corp. Is
Included In
Combined
Return
F. Owned
By Corp.
Number
G. Change In
Ownership %
During Taxable
Period (Yes/No)
H. % Of
Owner -
ship Close
Of Taxable
Period
I. Principal
Business Activity
1
A (Parent) B C
D 1. 2. 3.
4. 5. 6.
E I
2
A B C
D 1. 2. 3.
4. 5. 6.
E F G H
%
I
3
A B C
D 1. 2. 3.
4. 5. 6.
E F G H
%
I
4
A B C
D 1. 2. 3.
4. 5. 6.
E F G H
%
I
5
A B C
D 1. 2. 3.
4. 5. 6.
E F G H
%
I
6
A B C
D 1. 2. 3.
4. 5. 6.
E F G H
%
I
7
A B C
D 1. 2. 3.
4. 5. 6.
E F G H
%
I
Photocopy And Submit Additional Pages As Needed
DR 1778 (07/31/12) COLORADO DEPARTMENT OF REVENUE 1375 Sherman Street Denver, CO 80261-0006 www.TaxColorado.com
e-filer Attachment Form
For Tax Year ________ or fiscal year beginning ________________, Ending ________________
Tax Type: Individual Income C-Corp Income Partnership Income S-Corp Income LLC Income
LP Income LLP Income LLLP Income Association Income Non-Profit Income
Please Print or Type
Taxpayer Name Taxpayer SSN
Spouse Name (if applicable) Spouse SSN (if applicable)
Taxpayer Address Federal Employer ID Number
City State ZIP Code
Mark the box for the Documents Submitted. For further information visit the Department of Revenue Web site www.TaxColorado.com
Other state(s) income tax return(s)
Enterprise Zone Credit: DR 0074, DR 0075, DR 0076 or DR 0077 certificates
Gross Conservation Easement: DR 1303, DR 1304 and/or DR 1305 and supplemental documentation
Aircraft Manufacturer New Employee Credit: DR 0085 and/or DR 0086
Innovative Motor Vehicle Credit: Vehicle purchase invoice
Child Care Contribution Credit: DR 1317
Claim for refund on behalf of deceased taxpayer: DR 0102, death certificate
Colorado Source Capital Gain Subtraction: DR 1316
Job Growth Incentive Tax Credit: Certification letter from the Colorado Development Commission
Low-Income Housing Credit: CHFA certification letter
Non-resident Partner, Shareholder or Members Agreement: DR 0107
Plastic Recycling Credit: Required documentation to substantiate credit (receipts, bills, etc.)
School-to-Career Investment Credit: Certification letter
Other Documentation for credits/subtractions claimed (mark the Other box below and enter details)
Other (explain) _______________________________________________________________________________
Signature of Taxpayer or Preparer Date
Instructions For DR 1778
The Department strongly recommends that you submit these documents using the E-Filer Attachment option of
www.Colorado.gov/RevenueOnline , which eliminates the requirement to mail this form. Failure to timely submit required documentation
will result in denial of the related credit. Revenue Online E-Filer Attachment provides you with a confirmation number and will be
available to the Department immediately. Otherwise, complete this form, package it with your documentation and mail to the address
below. Using this form can extend return processing time up to 6 weeks.
Colorado Department of Revenue
1375 Sherman Street
Denver, CO 80261-0006
You must resubmit your supporting documentation if you file an amended return.
Web
Schedule C must be completed if the corporation for which the
return is filed owned a) more than 50 percent of the stock of
another corporation or, b) more than 50 percent of the stock
of the corporation for which the return is filed was owned by
another corporation.
Enter information for the common parent on line 1. Lines 2
through 15 are for subsidiary corporations. Photocopy and
submit additional sheets if necessary.
Columns A Through C
Enter the corporation’s name, address, Colorado Account
number and Federal Employer Identification Number.
Column D
Taxpayers who are affiliated corporations, as described above,
and who have more than 20 percent of their property and
payroll located within the United States must complete Column D.
The blocks in Column D are numbered from one (1) to six (6)
and correspond to the six numbered intercompany business
relationships described below. For each affiliate listed on
Schedule C, mark yes (Y) or no (N) in the blocks of Column
D, to indicate whether the below described intercompany
business relationships did or did not exist during the tax year
and the two preceding tax years.
Intercompany Business Relationships
1. Is 50 percent or more of the corporation’s gross receipts
from sales or leases to other affiliates or is 50 percent or
more of the corporation’s cost of goods sold or leased from
other affiliates?
2. Does the corporation receive 50 percent or more of the
total annual value of each of five or more of the following
services from other affiliates: advertising and public
relations; accounting and bookkeeping; legal; personnel;
Instructions For Form 112CR
Priority Of Credits
The law provides that the new Investment Tax Credit (ITC)
is limited to the tax liability remaining after the old ITC.
Otherwise, the taxpayer may choose the sequence in
which the credits are claimed. Particular attention should
be paid to the carryback and carryover features of the
various credits.
The Investment Tax Credit
A Colorado ITC is allowed in an amount equal to 1 percent
of the total qualified investment as determined under
section 46(c) of the internal revenue code in qualified
property as defined in section 48 of the Internal Revenue
Code as such sections existed prior to the Revenue
Reconciliation Act of 1990.
The ITC is basically 10 percent of what the federal regular
percentage ITC would be if it were still in effect.
The ITC is limited to $1,000 reduced by the amount of the
old ITC claimed for the same tax year.
Page 12
Instructions For Schedule C
sales; purchasing; research and development; insurance;
employee benefit programs. Do not count services which
are provided at an “arm’s length charge.” (See U.S.
Treasury Regulation 1.482(b)(3).)
3. Is 20 percent or more of the corporation’s long-term debt
owed to or guaranteed by other affiliates? Is 20 percent
or more of any other affiliates long-term debt owed to or
guaranteed by the corporation?
4. Does the corporation use patents, trademarks, service
marks, logos, trade secrets, copyrights or other proprietary
materials owned by other affiliates? Does the corporation
own patents, trademarks, service marks, logos, trade
secrets, copyrights, or other proprietary materials that are
used by other affiliates?
5. Are 50 percent or more of the members of the corporation’s
board of directors also members of the board of directors or
corporate officers of other affiliates?
6. Are 25 percent or more of the corporation’s 20 (twenty)
highest ranking officers also members of the board of
directors or corporate officers of other affiliates?
Column E
Mark the block in Column E if the corporation is included
in a combined report. Corporations included in a combined
report must have answered yes (Y) to three or more of the
intercompany business relationships referred to in Column D.
Columns F through I
Enter corporation’s owner number, whether or not there was a
change in ownership, the ownership percentage and principal
business activity.
Any excess new ITC remaining may be carried forward for
a period of three years. It may not be carried back to an
earlier year.
The new Colorado ITC is allowed only with respect to
assets located within Colorado. If qualifying property is
located both within and without Colorado during the tax
year, the credit shall be apportioned based on the time of
usage of such property in Colorado during the tax year
as compared with the total time of usage of such property
everywhere during the tax year unless the taxpayer can
justify a more equitable apportionment method.
All Internal Revenue Code section 46 (as such section
existed prior to 1990) restrictions on qualified investment
apply for purposes of the new ITC. For example, only a
fraction of the basis or cost of assets that have a useful
life of less than seven years qualifies for the credit, only
$150,000 of used property may qualify for the credit, and
any amounts expensed under section 179 of the Internal
Revenue Code do not qualify.
Form 112CR (07/12/12)
Form 112CR Colorado Corporation Credit Schedule 2012
Attach this form to your completed income tax return Form 112 if filing on paper.
Taxpayer’s name Colorado Account Number
NEW - In order to claim an Enterprise Zone credit, you must electronically file your return and the EZ Carryforward Schedule
(DR 1366). For an electronic filing hardship exception, call 303-238-7378.
If credit is passed through from an S corporation or a partnership, give name, ownership percentage and Colorado account number of
the organization, and submit a copy of the corporation or partnership certification.
Column (a) Column (b)
1. Tax liability from line 17, Form 112 1
A. The New Investment Tax Credit
2. $1,000 minus amount on line 57 . 2
3. Current year qualified investment 3
4. 1% of the amount on line 3 4
5. New investment tax credit carried over from prior year 5
6. Enter in Column (a) the total of lines 4 and 5. Enter in Column (b) the lesser of the amount in Column (a) or the amount on line 2 . 6
B. Enterprise Zone Investment Tax Credit
7. Smaller of amount on line 1 above, or $5,000 7
8. 50% of the amount on line 1 above in excess of $5,000 8
9. Total of lines 7 and 8 9
10. Old investment tax credit, if any, from line 57b 10
11. Line 9 minus line 10 11
12. Qualifying current year investment 12
13. 3% of amount on line 12 13
14. Enterprise zone investment tax credit carried over from prior year 14
15. Enter in Column (a) the total of lines 13 and 14. Enter in Column (b) the lesser of the amount in Column (a), the amount on line 11, or $500,000. 15
16. Commercial vehicle investment credit. Enter in Column (a) the total 2012 credit. Enter in Column (b) the lesser of the amount in Column (a), the amount on line 11 minus the amount on line 15b, or $500,000 minus line 15b 16
C. Enterprise Zone New Business Facility Employee Credits
17. Monthly average of qualified new business facility employees 17
18. Number of employees for which credit has previously been claimed 18
19. Increase in qualified employees, line 17 minus line 18 19
20. Number of employees on line 19 multiplied by $500 20
21. Number of employees on line 19 in an enhanced rural enterprise zone multiplied by $2,000 21
22. Number of agricultural processing employees on line 19 multiplied by $500 22
23. Number of agricultural processing employees on line 19 in an enhanced rural enterprise zone multiplied by $500 23
24. Employee credit carried over from prior year 24
25. Number of health insurance qualified employees ______ multiplied by $200 25
26. Enter in Column (a) the total of lines 20 through 25. Enter in Column (b) the amount from Column (a) which is being used to offset 2012 tax. 26
D. Contribution to Enterprise Zone Administrator Credit
27. Current year cash contributions 27
28. Value of current year in-kind contributions 28
29. Total of lines 27 and 28 29
30. The smaller of $100,000 or 25% of line 29 30
31. Limitation on in–kind credit, 50% of line 30 31
32. Allowable in–kind credit, the smaller of lines 28 or 31 32
33. Limitation on cash credit, line 30 minus line 32 33
34. Allowable cash credit, the smaller of lines 27 or 33 34
35. Enter either the total of lines 32 and 34 or $100,000, whichever is less 35
36. Contribution credit carried over from prior year 36
37. Enter in Column (a) the total of lines 35 and 36. Enter in Column (b) the amount from Column (a) which is being used to offset 2012 tax 37
Web
Form 112CR 2012 Colorado Corporation Credit Schedule
E. Enterprise Zone Vacant Commercial Building Rehabilitation Credit Column (a) Column (b)
38. Qualified current year expenditures . 38
39. Smaller of $50,000 or 25% of line 38 . 39
40. Rehabilitation credit carried over from prior year . 40
41.
Enter in Column (a) the total of lines 39 and 40. Enter in Column (b) the amount from Column (a) which is being used to offset 2012 tax 41
F. Enterprise Zone Research And Experimental Credit
42. Qualifying current year expenditures 42
43. First preceding year expenditures 43
44. Second preceding year expenditures 44
45. Total of lines 43 and 44 45
46. One-half of the amount on line 45 . 46
47. Line 42 minus line 46 47
48. 3% of the amount on line 47 48
49. 25% of the amount on line 48 49
50. 25% of line 47 of 2009 Form 112CR 50
51. 25% of line 47 of 2010 Form 112CR 51
52. 25% of line 48 of 2011 Form 112CR 52
53. Excess credit carried over from prior year 53
54.
Enter in Column (a) the total of lines 49 through 53. Enter in Column (b) the amount from Column (a) which is being used to offset 2012 tax 54
G. Miscellaneous Enterprise Zone Credits
55.
Enterprise zone job training credit . Enter in Column (b) the amount from Column (a) which is being used to offset 2012 tax. Include in Column (a) any amount carried forward from t\
he prior year. 55
56. Rural technology enterprise zone credit carryforward 56
H. Other Credits
For the following other credits, e nter in Column (b) the amount from Column (a) which is being used to offset 2012 tax. Include in Column (a) any amount carried forward from t\
he prior year.
57. Old investment tax credit 57
58. Crop and livestock contribution credit 58
59. Historic property preservation credit (2012 credits must be carried forward to future years.) 59
60. Child care contribution credit (2012 credits must be carried forward to 2013.) 60
61. Child care center/family care home investment credit 61
62. Employer child care facility investment credit 62
63. School-to-Career investment credit 63
64. Colorado works program credit 64
65. Contaminated land redevelopment credit 65
66. Low-income housing credit 66
67. Aircraft manufacturer new employee credit 67
68. Job growth incentive credit 68
69. Gross conservation easement credit 69
70. Alternative fuel refueling facility credit 70
71. Nonrefundable alternative fuel vehicle credit carried forward from prior year 71
72. Total of lines 54b through 71b 72
73. Total nonrefundable credits, add amounts in Column (b), lines 6, 15, 16, 26, 37, 41, and 72 73
74. Refundable innovative motor vehicle credit. Enter here and on line 24 of Form 112 74
Limitation : The total credits entered on line 73 on this Form 112CR may not exceed the tax on line 1. Most unused portion(s)
of the credits on this form [the difference between the amounts in Column (a) and Column (b)] for each line may be carried
forward to the next income tax year. Please list any credits to be carried forward to tax year 2013 below.
75 . Credits to be carried forward to 2013:
Page 15
Enterprise Zones
An enterprise zone is an economically distressed area of Colorado
in which special tax incentives are offered to businesses that
expand or locate in the zone. The purpose of the tax incentives is
to create new jobs and investments in the zone. See publication
FYI General 6 for information regarding the location of the
enterprise zones.
Enterprise Zone Investment Tax Credit
In lieu of the old Colorado investment tax credit (ITC) with respect
to such property, there shall be allowed to any person a Colorado
income tax credit in an amount equal to three percent of the
qualified investment (as defined in section 46 of the internal
revenue code) in section 38 property (defined in section 48 of the
internal revenue code) as said sections 46 and 48 existed prior
to the enactment of the federal Revenue Reconciliation Act of
1990 to the extent such property was used solely and exclusively
in a Colorado enterprise zone during the first twelve months of
ownership of such property by the taxpayer. New - starting January
1, 2012, the Colorado ITC is limited to $500,000.
A commercial vehicle investment credit is available for certain new
interstate trucks purchased after June 30, 2012.
Section 38 property is basically tangible personal property which
is either (federal) recovery property or other depreciable or
amortizable property having a useful life of three years or more
used in the taxpayer’s trade or business. Only 60 percent of the
investment in 3-year recovery property qualifies for the credit. The
qualified investment in used property is limited to $150,000 per
year, and any amounts expensed under section 179 of the
Internal Revenue Code do not qualify for the credit. Under
certain circumstances the taxpayer may claim the credit on
leased property.
The enterprise zone ITC may be claimed in an amount equal to
the first $5,000 of tax liability plus 50 percent of the tax liability
in excess of $5,000. Enterprise zone ITC earned in tax years
beginning on or after January 1, 1996 may be carried back 3 years
and forward 12.
Any taxpayer claiming an enterprise zone ITC of $450 or more
must submit with its income tax return a certificate from the zone
administrator (form DR 0074) to the effect that the taxpayer‘s
business is located in the enterprise zone. A certificate is not
required for the commercial vehicle investment credit. See
publication FYI Income 11 if this applies to you.
Enterprise Zone New Business Facility Employee Credits
Only taxpayers who establish a new business facility or expand an
existing facility in an enterprise zone may claim the new business
facility employee credits. These credits may not be claimed with
respect to facilities that were in place prior to the establishment of
the zone except for a qualified expansion.
• Basic employee credit . Taxpayers which establish a new
business facility may claim a credit of $500 for the first twelve
month period they employ a qualified new business facility
employee. For subsequent tax periods, they are allowed to claim
this credit with respect to the increase in the average number of
enterprise zone new business facility employees. An additional
$2,000 credit for each new business facility employee is available
to businesses located in an enhanced rural enterprise zone.
• Agricultural processing employee credit . Any taxpayer who
operates a business within an enterprise zone which adds value
through manufacturing or processing to agricultural commodities
can claim an additional $500 employee credit. An additional
$500 credit for each new business facility agricultural processing
employee is available to businesses located in an enhanced
rural enterprise zone. Only businesses directly engaged in
manufacturing or processing agricultural commodities into some
form other than that which enters normal agricultural commodity
marketing channels qualify for this special incentive. Harvesting,
cleaning, packaging, storing, transporting, wholesaling, retailing,
or otherwise distributing products without changing their form do
not qualify.
• Health Insurance credit. An enterprise zone taxpayer can
qualify for a credit of $200 for each new business facility
employee who is insured under a health insurance plan or
program provided through the employer. Any health insurance,
health maintenance organization, or prepaid health plan which
is approved by the State Insurance Commissioner for sale in
Colorado qualifies. The employer must contribute 50 percent or
more of the total cost of the plan. A qualifying taxpayer may claim
this credit for the first two full income tax years after the facility is
completed or acquired within an enterprise zone.
In order to claim the enterprise zone new business facility
employee credits, the taxpayer must submit with its return
a certification from the zone administrator (DR 0074). See
publication FYI Income 10 if this applies to you.
Contributions To Enterprise Zone Administrator Credit
The credit for contributions to an enterprise zone administrator to
further the economic development plan of the zone is allowed at 25
percent for cash contributions, 12.5 percent for in-kind contributions,
and a blended percentage for combined cash/in-kind contributions.
See publication FYI Income 23 if this applies to you.
The certificate(s) of contribution (DR 0075) furnished to you by the
zone administrator or the program, project or organization will show
the amount of your contributions that qualify for the 25 percent
cash–12.5 percent in-kind credit. Form DR 0075 must be submitted
with Form 112.
The contribution credit is subject to the following rules:
1. The amount of credit generated in any one tax year may not
exceed $100,000.
2. The amount of credit generated in excess of the credit claimed
may be carried forward for up to 5 years.
3. The credit is limited to 25 percent of the total value of the
contribution.
4. Credit for in-kind contributions are limited to one-half the credit
allowed for cash contributions of the same value.
5. If a taxpayer has both cash and in-kind contributions during a tax
year, credit for cash contributions may be allowed at up to 100
percent but only to the extent necessary to bring the total credit
up to 25 percent of the value of the combined contributions.
6. Credit will not be allowed for contributions that directly benefit
the contributor or that are not directly related to job creation, job
preservation, child-care promotion or for temporary, emergency
or transitional housing programs which promote employment for
homeless persons.
Enterprise Zone Vacant Commercial Building Rehabilitation Credit
A 25 percent credit is available for rehabilitating commercial
buildings in an enterprise zone which are at least 20 years old and
which have been vacant for at least two years. See publication FYI
Income 24 if this applies to you.
Enterprise Zone Research and Experimental Activities Credit
Taxpayers who make research and experimental expenditures
in an enterprise zone are entitled to a credit in the amount of
3 percent of such current year expenditures in excess of the
average of such expenditures for the two preceding tax years. See
publication FYI Income 22 if this applies to you.
Page 16
Certain credits require supplemental documentation, or they might be denied. We strongly suggest that you submit your
documentation using the E-Filer Attachment option through Revenue Online. Otherwise, use form DR 1778, supported efile
software, or attach to your paper return. FYIs are available at www.TaxColorado.com
COLORADO DEPARTMENT OF REVENUEDenver CO 80261-0006 www.TaxColorado.com
Enterprise Zone Job Training Credit
A credit of 10 percent of the total current year investment in a
qualified job training program for employees working predominantly
within an enterprise zone is available. See publication FYI Income
31 if this applies to you.
Rural Technology Enterprise Zone Credit Carryforward
Credits from 2001 - 2004 in excess of the tax due can be carried
forward for 10 years. See publication FYI Income 36 if this applies
to you.
Alternative Fuel Refueling Facility Credit
Credits from 2006 - 2010 in excess of the tax due can be carried
forward for 5 years.
Gross Conservation Easement Credit
A credit based on the value of a donated conservation easement
in Colorado is available. Submit a copy of form DR 1305 with Form
112 when claiming this credit. Additional documentation is required
if the corporation donated the easement during the tax year. See
publication FYI Income 39 if this applies to you.
The Old Investment Tax Credit
The old investment tax credit is the sum of the old investment tax
credit carry over, the current year old investment tax credit and
the old investment tax credit carry back. The current year credit is
10 percent of the federal current year rehabilitation, energy and
reforestation investment credit on assets located in Colorado. The
credit is limited to the first $5,000 of tax liability plus 25 percent of
the tax in excess of $5,000. Excess credit may be carried back
three years and forward seven. See publication FYI Income 11 if
this applies to you.
Crop and Livestock Contribution Credit
A 25 percent credit is available for the donation of crops or livestock
to a charitable organization. See publication FYI Income 57 if this
applies to you.
Historic Property Preservation Credit
A credit of 20 percent of the cost of restoring certified historic
property in Colorado is available. See publication FYI Income 1 if
this applies to you.
Child Care Contribution Credit
A 50 percent credit is available for qualifying contributions made to
promote child care in Colorado. See publication FYI Income 35 if
this applies to you.
Child Care Facility Investment Credit
A 20 percent investment credit is available for certain tangible
personal property used in the operation of a child care center, a
family child care home, or a foster care home. See publication FYI
Income 7 if this applies to you.
Employer Child Care Facility Investment Credit
A 10 percent investment credit is available for employer sponsored
child care facility investment. See publication FYI Income 7 if this
applies to you.
School-to-Career Investment Credit
A credit of 10 percent of the current year investment
in a qualified school-to-career program is available. See
publication FYI Income 32 if this applies to you.
Colorado Works Program Credit
A credit of 20 percent of an employer’s expenditures to employ
recipients of public assistance is available. See publication FYI
Income 34 if this applies to you.
Contaminated Land Redevelopment Credit
A 20 percent to 50 percent credit is available for expenditures
made to redevelop contaminated land in Colorado. See publication
FYI Income 42 if this applies to you.
Low-Income Housing Credit
A credit is available for owners of qualified low-income housing
developments. You must submit a copy of your credit certification
from the Colorado Housing and Finance Authority to claim this
credit. See publication FYI Income 46 if this applies to you.
Aircraft Manufacturer New Employee Credit
A credit is available to qualified aircraft manufacturers
located in an aviation development zone. See publication FYI
Income 62 if this applies to you.
Job Growth Incentive Credit
Credits are approved and certified by the Colorado Economic
Development Commission. A credit certificate issued by the
Commission must be submitted with any return claiming this credit.
See publication FYI Income 66 if this applies to you.
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