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us-co/statute/39/39-22-114.5 — Tax credit for investment in technologies for recycling plastics - repeal · Axiom

Tax credit for investment in technologies for recycling plastics - repeal

7 rules

(1) For income tax years commencing prior to January 1, 2023, there shall be allowed to each resident individual, as a credit against the income taxes imposed by this article 22, a plastic recycling credit equal to twenty percent of net expenditures to third parties for rent, wages, supplies, consumable tools, equipment, test inventory, and utilities up to ten thousand dollars made by the taxpayer for new plastic recycling technology in Colorado, with a maximum credit of two thousand dollars. The tax credit allowed in this section shall be applicable only to income related to the expenditures described in this subsection (1).

(2) If the credit allowed under this section exceeds the income taxes otherwise due on the claimant's income, the amount of the credit not used as an offset against income taxes may be carried forward as a tax credit against subsequent years' income tax liability for a period not exceeding five years and shall be applied first to the earliest years possible.

(3) Any form filed with the department of revenue for the purpose of claiming the credit allowed by this section shall be accompanied by copies of any receipts, bills, or other documentation of the qualified expenditures claimed for the purpose of receiving such credit.

(4) This section is repealed, effective July 1, 2029.

in view

Whole section

Encodings · 7

plastic_recycling_credit_rateCO 39 § 39-22-114.5 · parameter

C.R.S. § 39-22-114.5(1)

name: plastic_recycling_credit_rate
kind: parameter
dtype: Rate
source: C.R.S. § 39-22-114.5(1)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us-co/statute/39/39-22-114.5
          excerpt: “a plastic recycling credit equal to twenty percent”
versions:
  - effective_from: '0001-01-01'
    formula: '0.20'

plastic_recycling_credit_expenditure_limitCO 39 § 39-22-114.5 · parameter

C.R.S. § 39-22-114.5(1)

name: plastic_recycling_credit_expenditure_limit
kind: parameter
dtype: Money
unit: USD
period: Year
source: C.R.S. § 39-22-114.5(1)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-114.5
          excerpt: “up to ten thousand dollars”
versions:
  - effective_from: '0001-01-01'
    formula: '10000'

plastic_recycling_credit_maximumCO 39 § 39-22-114.5 · parameter

C.R.S. § 39-22-114.5(1)

name: plastic_recycling_credit_maximum
kind: parameter
dtype: Money
unit: USD
period: Year
source: C.R.S. § 39-22-114.5(1)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-114.5
          excerpt: “with a maximum credit of two thousand dollars”
versions:
  - effective_from: '0001-01-01'
    formula: '2000'

plastic_recycling_credit_carryforward_limit_yearsCO 39 § 39-22-114.5 · parameter

C.R.S. § 39-22-114.5(2)

name: plastic_recycling_credit_carryforward_limit_years
kind: parameter
dtype: Integer
source: C.R.S. § 39-22-114.5(2)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us-co/statute/39/39-22-114.5
          excerpt: “for a period not exceeding five years”
versions:
  - effective_from: '0001-01-01'
    formula: '5'

plastic_recycling_creditCO 39 § 39-22-114.5 · derived

C.R.S. § 39-22-114.5(1)

name: plastic_recycling_credit
kind: derived
entity: TaxUnit
dtype: Money
unit: USD
period: Year
source: C.R.S. § 39-22-114.5(1)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us-co/statute/39/39-22-114.5
          excerpt: “equal to twenty percent of net expenditures to third parties”
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us-co/statute/39/39-22-114.5
          excerpt: “allowed to each resident individual”
      - path: versions[0].formula
        kind: effective_period
        source:
          corpus_citation_path: us-co/statute/39/39-22-114.5
          excerpt: “income tax years commencing prior to January 1, 2023”
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us-co/statute/39/39-22-114.5
          excerpt: “applicable only to income related to the expenditures”
versions:
  - effective_from: '0001-01-01'
    formula: >-
      if taxpayer_is_resident_individual and
      income_tax_year_commences_prior_to_credit_termination_date and
      income_is_related_to_qualified_plastic_recycling_expenditures: min(
      plastic_recycling_credit_maximum, plastic_recycling_credit_rate * min(
      max(0,
      net_expenditures_to_third_parties_for_new_plastic_recycling_technology_in_colorado),
      plastic_recycling_credit_expenditure_limit ) ) else: 0

plastic_recycling_credit_used_as_offsetCO 39 § 39-22-114.5 · derived

C.R.S. § 39-22-114.5(2)

name: plastic_recycling_credit_used_as_offset
kind: derived
entity: TaxUnit
dtype: Money
unit: USD
period: Year
source: C.R.S. § 39-22-114.5(2)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us-co/statute/39/39-22-114.5
          excerpt: “used as an offset against income taxes”
      - path: versions[0].formula
        kind: import
        import:
          target: us-co:statutes/39/39-22-114.5#plastic_recycling_credit
          output: plastic_recycling_credit
          hash: sha256:local
versions:
  - effective_from: '0001-01-01'
    formula: |-
      min(
        plastic_recycling_credit,
        max(0, income_taxes_otherwise_due_on_related_income)
      )

unused_plastic_recycling_creditCO 39 § 39-22-114.5 · derived

C.R.S. § 39-22-114.5(2)

name: unused_plastic_recycling_credit
kind: derived
entity: TaxUnit
dtype: Money
unit: USD
period: Year
source: C.R.S. § 39-22-114.5(2)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us-co/statute/39/39-22-114.5
          excerpt: >-
            “the amount of the credit not used as an offset against income
            taxes”
      - path: versions[0].formula
        kind: import
        import:
          target: us-co:statutes/39/39-22-114.5#plastic_recycling_credit
          output: plastic_recycling_credit
          hash: sha256:local
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us-co:statutes/39/39-22-114.5#plastic_recycling_credit_used_as_offset
          output: plastic_recycling_credit_used_as_offset
          hash: sha256:local
versions:
  - effective_from: '0001-01-01'
    formula: |-
      max(
        0,
        plastic_recycling_credit
        - plastic_recycling_credit_used_as_offset
      )

▸rulespec code

Shown source

statutes/39/39-22-114.5.yaml

Displaying the canonical repository encoding.

View on GitHub

Rules

plastic_recycling_credit_rate

Parameter

source: C.R.S. § 39-22-114.5(1)

- name: plastic_recycling_credit_rate
  kind: parameter
  dtype: Rate
  source: C.R.S. § 39-22-114.5(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-co/statute/39/39-22-114.5
            excerpt: “a plastic recycling credit equal to twenty percent”
  versions:
    - effective_from: '0001-01-01'
      formula: '0.20'

plastic_recycling_credit_expenditure_limit

Parameter

source: C.R.S. § 39-22-114.5(1)

- name: plastic_recycling_credit_expenditure_limit
  kind: parameter
  dtype: Money
  unit: USD
  period: Year
  source: C.R.S. § 39-22-114.5(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-114.5
            excerpt: “up to ten thousand dollars”
  versions:
    - effective_from: '0001-01-01'
      formula: '10000'

plastic_recycling_credit_maximum

Parameter

source: C.R.S. § 39-22-114.5(1)

- name: plastic_recycling_credit_maximum
  kind: parameter
  dtype: Money
  unit: USD
  period: Year
  source: C.R.S. § 39-22-114.5(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-114.5
            excerpt: “with a maximum credit of two thousand dollars”
  versions:
    - effective_from: '0001-01-01'
      formula: '2000'

plastic_recycling_credit_carryforward_limit_years

Parameter

source: C.R.S. § 39-22-114.5(2)

- name: plastic_recycling_credit_carryforward_limit_years
  kind: parameter
  dtype: Integer
  source: C.R.S. § 39-22-114.5(2)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-co/statute/39/39-22-114.5
            excerpt: “for a period not exceeding five years”
  versions:
    - effective_from: '0001-01-01'
      formula: '5'

plastic_recycling_credit

Derived

source: C.R.S. § 39-22-114.5(1)

- name: plastic_recycling_credit
  kind: derived
  entity: TaxUnit
  dtype: Money
  unit: USD
  period: Year
  source: C.R.S. § 39-22-114.5(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-co/statute/39/39-22-114.5
            excerpt: “equal to twenty percent of net expenditures to third parties”
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-co/statute/39/39-22-114.5
            excerpt: “allowed to each resident individual”
        - path: versions[0].formula
          kind: effective_period
          source:
            corpus_citation_path: us-co/statute/39/39-22-114.5
            excerpt: “income tax years commencing prior to January 1, 2023”
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-co/statute/39/39-22-114.5
            excerpt: “applicable only to income related to the expenditures”
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        if taxpayer_is_resident_individual and
        income_tax_year_commences_prior_to_credit_termination_date and
        income_is_related_to_qualified_plastic_recycling_expenditures: min(
        plastic_recycling_credit_maximum, plastic_recycling_credit_rate * min( max(0,
        net_expenditures_to_third_parties_for_new_plastic_recycling_technology_in_colorado),
        plastic_recycling_credit_expenditure_limit ) ) else: 0

plastic_recycling_credit_used_as_offset

Derived

source: C.R.S. § 39-22-114.5(2)

- name: plastic_recycling_credit_used_as_offset
  kind: derived
  entity: TaxUnit
  dtype: Money
  unit: USD
  period: Year
  source: C.R.S. § 39-22-114.5(2)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-co/statute/39/39-22-114.5
            excerpt: “used as an offset against income taxes”
        - path: versions[0].formula
          kind: import
          import:
            target: us-co:statutes/39/39-22-114.5#plastic_recycling_credit
            output: plastic_recycling_credit
            hash: sha256:local
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        min(
          plastic_recycling_credit,
          max(0, income_taxes_otherwise_due_on_related_income)
        )

unused_plastic_recycling_credit

Derived

source: C.R.S. § 39-22-114.5(2)

- name: unused_plastic_recycling_credit
  kind: derived
  entity: TaxUnit
  dtype: Money
  unit: USD
  period: Year
  source: C.R.S. § 39-22-114.5(2)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-co/statute/39/39-22-114.5
            excerpt: “the amount of the credit not used as an offset against income taxes”
        - path: versions[0].formula
          kind: import
          import:
            target: us-co:statutes/39/39-22-114.5#plastic_recycling_credit
            output: plastic_recycling_credit
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us-co:statutes/39/39-22-114.5#plastic_recycling_credit_used_as_offset
            output: plastic_recycling_credit_used_as_offset
            hash: sha256:local
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        max(
          0,
          plastic_recycling_credit
          - plastic_recycling_credit_used_as_offset
        )

loading…

Tax credit for investment in technologies for recycling plastics - repeal

7 rules

Official source

graph ↗build calculator ↗

(4) This section is repealed, effective July 1, 2029.

in view

Whole section

Encodings · 7

plastic_recycling_credit_rateCO 39 § 39-22-114.5 · parameter

C.R.S. § 39-22-114.5(1)

name: plastic_recycling_credit_rate
kind: parameter
dtype: Rate
source: C.R.S. § 39-22-114.5(1)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us-co/statute/39/39-22-114.5
          excerpt: “a plastic recycling credit equal to twenty percent”
versions:
  - effective_from: '0001-01-01'
    formula: '0.20'

plastic_recycling_credit_expenditure_limitCO 39 § 39-22-114.5 · parameter

C.R.S. § 39-22-114.5(1)

name: plastic_recycling_credit_expenditure_limit
kind: parameter
dtype: Money
unit: USD
period: Year
source: C.R.S. § 39-22-114.5(1)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-114.5
          excerpt: “up to ten thousand dollars”
versions:
  - effective_from: '0001-01-01'
    formula: '10000'

plastic_recycling_credit_maximumCO 39 § 39-22-114.5 · parameter

C.R.S. § 39-22-114.5(1)

name: plastic_recycling_credit_maximum
kind: parameter
dtype: Money
unit: USD
period: Year
source: C.R.S. § 39-22-114.5(1)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-114.5
          excerpt: “with a maximum credit of two thousand dollars”
versions:
  - effective_from: '0001-01-01'
    formula: '2000'

plastic_recycling_credit_carryforward_limit_yearsCO 39 § 39-22-114.5 · parameter

C.R.S. § 39-22-114.5(2)

name: plastic_recycling_credit_carryforward_limit_years
kind: parameter
dtype: Integer
source: C.R.S. § 39-22-114.5(2)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us-co/statute/39/39-22-114.5
          excerpt: “for a period not exceeding five years”
versions:
  - effective_from: '0001-01-01'
    formula: '5'

plastic_recycling_creditCO 39 § 39-22-114.5 · derived

C.R.S. § 39-22-114.5(1)

name: plastic_recycling_credit
kind: derived
entity: TaxUnit
dtype: Money
unit: USD
period: Year
source: C.R.S. § 39-22-114.5(1)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us-co/statute/39/39-22-114.5
          excerpt: “equal to twenty percent of net expenditures to third parties”
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us-co/statute/39/39-22-114.5
          excerpt: “allowed to each resident individual”
      - path: versions[0].formula
        kind: effective_period
        source:
          corpus_citation_path: us-co/statute/39/39-22-114.5
          excerpt: “income tax years commencing prior to January 1, 2023”
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us-co/statute/39/39-22-114.5
          excerpt: “applicable only to income related to the expenditures”
versions:
  - effective_from: '0001-01-01'
    formula: >-
      if taxpayer_is_resident_individual and
      income_tax_year_commences_prior_to_credit_termination_date and
      income_is_related_to_qualified_plastic_recycling_expenditures: min(
      plastic_recycling_credit_maximum, plastic_recycling_credit_rate * min(
      max(0,
      net_expenditures_to_third_parties_for_new_plastic_recycling_technology_in_colorado),
      plastic_recycling_credit_expenditure_limit ) ) else: 0

plastic_recycling_credit_used_as_offsetCO 39 § 39-22-114.5 · derived

C.R.S. § 39-22-114.5(2)

name: plastic_recycling_credit_used_as_offset
kind: derived
entity: TaxUnit
dtype: Money
unit: USD
period: Year
source: C.R.S. § 39-22-114.5(2)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us-co/statute/39/39-22-114.5
          excerpt: “used as an offset against income taxes”
      - path: versions[0].formula
        kind: import
        import:
          target: us-co:statutes/39/39-22-114.5#plastic_recycling_credit
          output: plastic_recycling_credit
          hash: sha256:local
versions:
  - effective_from: '0001-01-01'
    formula: |-
      min(
        plastic_recycling_credit,
        max(0, income_taxes_otherwise_due_on_related_income)
      )

unused_plastic_recycling_creditCO 39 § 39-22-114.5 · derived

C.R.S. § 39-22-114.5(2)

name: unused_plastic_recycling_credit
kind: derived
entity: TaxUnit
dtype: Money
unit: USD
period: Year
source: C.R.S. § 39-22-114.5(2)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us-co/statute/39/39-22-114.5
          excerpt: >-
            “the amount of the credit not used as an offset against income
            taxes”
      - path: versions[0].formula
        kind: import
        import:
          target: us-co:statutes/39/39-22-114.5#plastic_recycling_credit
          output: plastic_recycling_credit
          hash: sha256:local
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us-co:statutes/39/39-22-114.5#plastic_recycling_credit_used_as_offset
          output: plastic_recycling_credit_used_as_offset
          hash: sha256:local
versions:
  - effective_from: '0001-01-01'
    formula: |-
      max(
        0,
        plastic_recycling_credit
        - plastic_recycling_credit_used_as_offset
      )

▸rulespec code

Shown source

statutes/39/39-22-114.5.yaml

Displaying the canonical repository encoding.

View on GitHub

Rules

plastic_recycling_credit_rate

Parameter

source: C.R.S. § 39-22-114.5(1)

- name: plastic_recycling_credit_rate
  kind: parameter
  dtype: Rate
  source: C.R.S. § 39-22-114.5(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-co/statute/39/39-22-114.5
            excerpt: “a plastic recycling credit equal to twenty percent”
  versions:
    - effective_from: '0001-01-01'
      formula: '0.20'

plastic_recycling_credit_expenditure_limit

Parameter

source: C.R.S. § 39-22-114.5(1)

- name: plastic_recycling_credit_expenditure_limit
  kind: parameter
  dtype: Money
  unit: USD
  period: Year
  source: C.R.S. § 39-22-114.5(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-114.5
            excerpt: “up to ten thousand dollars”
  versions:
    - effective_from: '0001-01-01'
      formula: '10000'

plastic_recycling_credit_maximum

Parameter

source: C.R.S. § 39-22-114.5(1)

- name: plastic_recycling_credit_maximum
  kind: parameter
  dtype: Money
  unit: USD
  period: Year
  source: C.R.S. § 39-22-114.5(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-114.5
            excerpt: “with a maximum credit of two thousand dollars”
  versions:
    - effective_from: '0001-01-01'
      formula: '2000'

plastic_recycling_credit_carryforward_limit_years

Parameter

source: C.R.S. § 39-22-114.5(2)

- name: plastic_recycling_credit_carryforward_limit_years
  kind: parameter
  dtype: Integer
  source: C.R.S. § 39-22-114.5(2)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-co/statute/39/39-22-114.5
            excerpt: “for a period not exceeding five years”
  versions:
    - effective_from: '0001-01-01'
      formula: '5'

plastic_recycling_credit

Derived

source: C.R.S. § 39-22-114.5(1)

- name: plastic_recycling_credit
  kind: derived
  entity: TaxUnit
  dtype: Money
  unit: USD
  period: Year
  source: C.R.S. § 39-22-114.5(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-co/statute/39/39-22-114.5
            excerpt: “equal to twenty percent of net expenditures to third parties”
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-co/statute/39/39-22-114.5
            excerpt: “allowed to each resident individual”
        - path: versions[0].formula
          kind: effective_period
          source:
            corpus_citation_path: us-co/statute/39/39-22-114.5
            excerpt: “income tax years commencing prior to January 1, 2023”
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-co/statute/39/39-22-114.5
            excerpt: “applicable only to income related to the expenditures”
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        if taxpayer_is_resident_individual and
        income_tax_year_commences_prior_to_credit_termination_date and
        income_is_related_to_qualified_plastic_recycling_expenditures: min(
        plastic_recycling_credit_maximum, plastic_recycling_credit_rate * min( max(0,
        net_expenditures_to_third_parties_for_new_plastic_recycling_technology_in_colorado),
        plastic_recycling_credit_expenditure_limit ) ) else: 0

plastic_recycling_credit_used_as_offset

Derived

source: C.R.S. § 39-22-114.5(2)

- name: plastic_recycling_credit_used_as_offset
  kind: derived
  entity: TaxUnit
  dtype: Money
  unit: USD
  period: Year
  source: C.R.S. § 39-22-114.5(2)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-co/statute/39/39-22-114.5
            excerpt: “used as an offset against income taxes”
        - path: versions[0].formula
          kind: import
          import:
            target: us-co:statutes/39/39-22-114.5#plastic_recycling_credit
            output: plastic_recycling_credit
            hash: sha256:local
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        min(
          plastic_recycling_credit,
          max(0, income_taxes_otherwise_due_on_related_income)
        )

unused_plastic_recycling_credit

Derived

source: C.R.S. § 39-22-114.5(2)

- name: unused_plastic_recycling_credit
  kind: derived
  entity: TaxUnit
  dtype: Money
  unit: USD
  period: Year
  source: C.R.S. § 39-22-114.5(2)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-co/statute/39/39-22-114.5
            excerpt: “the amount of the credit not used as an offset against income taxes”
        - path: versions[0].formula
          kind: import
          import:
            target: us-co:statutes/39/39-22-114.5#plastic_recycling_credit
            output: plastic_recycling_credit
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us-co:statutes/39/39-22-114.5#plastic_recycling_credit_used_as_offset
            output: plastic_recycling_credit_used_as_offset
            hash: sha256:local
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        max(
          0,
          plastic_recycling_credit
          - plastic_recycling_credit_used_as_offset
        )