39-22-129 Child Tax Credit. Basis and Purpose. The bases for this rule are sections 39-21-112(1) and 39-22-129,

C.R.S. The purpose of this rule is to clarify that the child tax credit must be adjusted if the federal credit on which it is based is adjusted, and to describe the proper apportionment of the child tax credit allowed to part-year Colorado residents. (1) Under section 39-22-129(3), C.R.S., the allowable Colorado child tax credit is equal to a percentage of the allowed federal child tax credit. If the federal child tax credit a taxpayer claims is disallowed, in whole or in part, or otherwise adjusted, the allowable Colorado child tax credit under section 39-22-129(3), C.R.S., shall be adjusted accordingly based on the amount of the federal credit that is allowed. However, additional Colorado child tax credit may be allowable under section 39-22-129(3.5), C.R.S. (2) In the case of a part-year Colorado resident, the allowable child tax credit shall be apportioned by multiplying the credit otherwise calculated pursuant to section 39-22-129, C.R.S., by the ratio determined under section 39-22-110(1), C.R.S.; except that the ratio for apportioning the child tax credit may not exceed 100%, even if the ratio determined under section 39-22-110(1), C.R.S., exceeds 100%.