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us-co/statute/39/39-22-122 — Long-term care insurance credit · Axiom

Long-term care insurance credit

7 rules0 of 3 subsections

Official source

in view

Whole section

Encodings · 7

long_term_care_insurance_credit_rateCO 39 § 39-22-122 · parameter

C.R.S. 39-22-122(1)

name: long_term_care_insurance_credit_rate
kind: parameter
dtype: Rate
source: C.R.S. 39-22-122(1)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us-co/statute/39/39-22-122
          excerpt: twenty-five percent of the amount expended for such insurance
versions:
  - effective_from: '0001-01-01'
    formula: '0.25'

single_return_federal_taxable_income_limitCO 39 § 39-22-122 · parameter

C.R.S. 39-22-122(2)(a)

name: single_return_federal_taxable_income_limit
kind: parameter
dtype: Money
unit: USD
period: Year
source: C.R.S. 39-22-122(2)(a)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-122
          excerpt: >-
            filing a single return with a federal taxable income of less than
            fifty thousand dollars
versions:
  - effective_from: '0001-01-01'
    formula: '50000'

joint_return_one_policy_federal_taxable_income_limitCO 39 § 39-22-122 · parameter

C.R.S. 39-22-122(2)(b)

name: joint_return_one_policy_federal_taxable_income_limit
kind: parameter
dtype: Money
unit: USD
period: Year
source: C.R.S. 39-22-122(2)(b)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-122
          excerpt: >-
            filing a joint return with a federal taxable income of less than
            fifty thousand dollars
versions:
  - effective_from: '0001-01-01'
    formula: '50000'

joint_return_two_policies_federal_taxable_income_limitCO 39 § 39-22-122 · parameter

C.R.S. 39-22-122(2)(c)

name: joint_return_two_policies_federal_taxable_income_limit
kind: parameter
dtype: Money
unit: USD
period: Year
source: C.R.S. 39-22-122(2)(c)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-122
          excerpt: >-
            filing a joint return with a federal taxable income of less than one
            hundred thousand dollars
versions:
  - effective_from: '0001-01-01'
    formula: '100000'

credit_cap_per_policyCO 39 § 39-22-122 · parameter

C.R.S. 39-22-122(3)

name: credit_cap_per_policy
kind: parameter
dtype: Money
unit: USD
period: Year
source: C.R.S. 39-22-122(3)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-122
          excerpt: shall not exceed one hundred fifty dollars for each policy
versions:
  - effective_from: '0001-01-01'
    formula: '150'

unused_long_term_care_insurance_credit_is_refundableCO 39 § 39-22-122 · derived

C.R.S. 39-22-122(4)

name: unused_long_term_care_insurance_credit_is_refundable
kind: derived
entity: TaxUnit
dtype: Judgment
period: Year
source: C.R.S. 39-22-122(4)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: predicate
        source:
          corpus_citation_path: us-co/statute/39/39-22-122
          excerpt: shall not be refunded to the individual
versions:
  - effective_from: '0001-01-01'
    formula: 'false'

unused_long_term_care_insurance_credit_may_be_carried_forwardCO 39 § 39-22-122 · derived

C.R.S. 39-22-122(4)

name: unused_long_term_care_insurance_credit_may_be_carried_forward
kind: derived
entity: TaxUnit
dtype: Judgment
period: Year
source: C.R.S. 39-22-122(4)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: predicate
        source:
          corpus_citation_path: us-co/statute/39/39-22-122
          excerpt: >-
            shall not be carried forward as tax credits against the resident
            individual's subsequent years' income tax liability
versions:
  - effective_from: '0001-01-01'
    formula: 'false'

▸rulespec code

Shown source

statutes/39/39-22-122.yaml

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View on GitHub

Rules

long_term_care_insurance_credit_rate

Parameter

source: C.R.S. 39-22-122(1)

- name: long_term_care_insurance_credit_rate
  kind: parameter
  dtype: Rate
  source: C.R.S. 39-22-122(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-co/statute/39/39-22-122
            excerpt: twenty-five percent of the amount expended for such insurance
  versions:
    - effective_from: '0001-01-01'
      formula: '0.25'

single_return_federal_taxable_income_limit

Parameter

source: C.R.S. 39-22-122(2)(a)

- name: single_return_federal_taxable_income_limit
  kind: parameter
  dtype: Money
  unit: USD
  period: Year
  source: C.R.S. 39-22-122(2)(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-122
            excerpt: >-
              filing a single return with a federal taxable income of less than fifty thousand
              dollars
  versions:
    - effective_from: '0001-01-01'
      formula: '50000'

joint_return_one_policy_federal_taxable_income_limit

Parameter

source: C.R.S. 39-22-122(2)(b)

- name: joint_return_one_policy_federal_taxable_income_limit
  kind: parameter
  dtype: Money
  unit: USD
  period: Year
  source: C.R.S. 39-22-122(2)(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-122
            excerpt: >-
              filing a joint return with a federal taxable income of less than fifty thousand
              dollars
  versions:
    - effective_from: '0001-01-01'
      formula: '50000'

joint_return_two_policies_federal_taxable_income_limit

Parameter

source: C.R.S. 39-22-122(2)(c)

- name: joint_return_two_policies_federal_taxable_income_limit
  kind: parameter
  dtype: Money
  unit: USD
  period: Year
  source: C.R.S. 39-22-122(2)(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-122
            excerpt: >-
              filing a joint return with a federal taxable income of less than one hundred thousand
              dollars
  versions:
    - effective_from: '0001-01-01'
      formula: '100000'

credit_cap_per_policy

Parameter

source: C.R.S. 39-22-122(3)

- name: credit_cap_per_policy
  kind: parameter
  dtype: Money
  unit: USD
  period: Year
  source: C.R.S. 39-22-122(3)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-122
            excerpt: shall not exceed one hundred fifty dollars for each policy
  versions:
    - effective_from: '0001-01-01'
      formula: '150'

unused_long_term_care_insurance_credit_is_refundable

Derived

source: C.R.S. 39-22-122(4)

- name: unused_long_term_care_insurance_credit_is_refundable
  kind: derived
  entity: TaxUnit
  dtype: Judgment
  period: Year
  source: C.R.S. 39-22-122(4)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: predicate
          source:
            corpus_citation_path: us-co/statute/39/39-22-122
            excerpt: shall not be refunded to the individual
  versions:
    - effective_from: '0001-01-01'
      formula: 'false'

unused_long_term_care_insurance_credit_may_be_carried_forward

Derived

source: C.R.S. 39-22-122(4)

- name: unused_long_term_care_insurance_credit_may_be_carried_forward
  kind: derived
  entity: TaxUnit
  dtype: Judgment
  period: Year
  source: C.R.S. 39-22-122(4)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: predicate
          source:
            corpus_citation_path: us-co/statute/39/39-22-122
            excerpt: >-
              shall not be carried forward as tax credits against the resident individual's
              subsequent years' income tax liability
  versions:
    - effective_from: '0001-01-01'
      formula: 'false'

▸citations (1)

References

This rule cites 1 other rule.

CO 39 § 10-19-103 (5)inferredCO › Statutes › Title 39 › § 10-19-103 › (5)

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Long-term care insurance credit

7 rules0 of 3 subsections

Official source

in view

Whole section

Encodings · 7

long_term_care_insurance_credit_rateCO 39 § 39-22-122 · parameter

C.R.S. 39-22-122(1)

name: long_term_care_insurance_credit_rate
kind: parameter
dtype: Rate
source: C.R.S. 39-22-122(1)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us-co/statute/39/39-22-122
          excerpt: twenty-five percent of the amount expended for such insurance
versions:
  - effective_from: '0001-01-01'
    formula: '0.25'

single_return_federal_taxable_income_limitCO 39 § 39-22-122 · parameter

C.R.S. 39-22-122(2)(a)

name: single_return_federal_taxable_income_limit
kind: parameter
dtype: Money
unit: USD
period: Year
source: C.R.S. 39-22-122(2)(a)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-122
          excerpt: >-
            filing a single return with a federal taxable income of less than
            fifty thousand dollars
versions:
  - effective_from: '0001-01-01'
    formula: '50000'

joint_return_one_policy_federal_taxable_income_limitCO 39 § 39-22-122 · parameter

C.R.S. 39-22-122(2)(b)

name: joint_return_one_policy_federal_taxable_income_limit
kind: parameter
dtype: Money
unit: USD
period: Year
source: C.R.S. 39-22-122(2)(b)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-122
          excerpt: >-
            filing a joint return with a federal taxable income of less than
            fifty thousand dollars
versions:
  - effective_from: '0001-01-01'
    formula: '50000'

joint_return_two_policies_federal_taxable_income_limitCO 39 § 39-22-122 · parameter

C.R.S. 39-22-122(2)(c)

name: joint_return_two_policies_federal_taxable_income_limit
kind: parameter
dtype: Money
unit: USD
period: Year
source: C.R.S. 39-22-122(2)(c)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-122
          excerpt: >-
            filing a joint return with a federal taxable income of less than one
            hundred thousand dollars
versions:
  - effective_from: '0001-01-01'
    formula: '100000'

credit_cap_per_policyCO 39 § 39-22-122 · parameter

C.R.S. 39-22-122(3)

name: credit_cap_per_policy
kind: parameter
dtype: Money
unit: USD
period: Year
source: C.R.S. 39-22-122(3)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-122
          excerpt: shall not exceed one hundred fifty dollars for each policy
versions:
  - effective_from: '0001-01-01'
    formula: '150'

unused_long_term_care_insurance_credit_is_refundableCO 39 § 39-22-122 · derived

C.R.S. 39-22-122(4)

name: unused_long_term_care_insurance_credit_is_refundable
kind: derived
entity: TaxUnit
dtype: Judgment
period: Year
source: C.R.S. 39-22-122(4)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: predicate
        source:
          corpus_citation_path: us-co/statute/39/39-22-122
          excerpt: shall not be refunded to the individual
versions:
  - effective_from: '0001-01-01'
    formula: 'false'

unused_long_term_care_insurance_credit_may_be_carried_forwardCO 39 § 39-22-122 · derived

C.R.S. 39-22-122(4)

name: unused_long_term_care_insurance_credit_may_be_carried_forward
kind: derived
entity: TaxUnit
dtype: Judgment
period: Year
source: C.R.S. 39-22-122(4)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: predicate
        source:
          corpus_citation_path: us-co/statute/39/39-22-122
          excerpt: >-
            shall not be carried forward as tax credits against the resident
            individual's subsequent years' income tax liability
versions:
  - effective_from: '0001-01-01'
    formula: 'false'

▸rulespec code

Shown source

statutes/39/39-22-122.yaml

Displaying the canonical repository encoding.

View on GitHub

Rules

long_term_care_insurance_credit_rate

Parameter

source: C.R.S. 39-22-122(1)

- name: long_term_care_insurance_credit_rate
  kind: parameter
  dtype: Rate
  source: C.R.S. 39-22-122(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-co/statute/39/39-22-122
            excerpt: twenty-five percent of the amount expended for such insurance
  versions:
    - effective_from: '0001-01-01'
      formula: '0.25'

single_return_federal_taxable_income_limit

Parameter

source: C.R.S. 39-22-122(2)(a)

- name: single_return_federal_taxable_income_limit
  kind: parameter
  dtype: Money
  unit: USD
  period: Year
  source: C.R.S. 39-22-122(2)(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-122
            excerpt: >-
              filing a single return with a federal taxable income of less than fifty thousand
              dollars
  versions:
    - effective_from: '0001-01-01'
      formula: '50000'

joint_return_one_policy_federal_taxable_income_limit

Parameter

source: C.R.S. 39-22-122(2)(b)

- name: joint_return_one_policy_federal_taxable_income_limit
  kind: parameter
  dtype: Money
  unit: USD
  period: Year
  source: C.R.S. 39-22-122(2)(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-122
            excerpt: >-
              filing a joint return with a federal taxable income of less than fifty thousand
              dollars
  versions:
    - effective_from: '0001-01-01'
      formula: '50000'

joint_return_two_policies_federal_taxable_income_limit

Parameter

source: C.R.S. 39-22-122(2)(c)

- name: joint_return_two_policies_federal_taxable_income_limit
  kind: parameter
  dtype: Money
  unit: USD
  period: Year
  source: C.R.S. 39-22-122(2)(c)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-122
            excerpt: >-
              filing a joint return with a federal taxable income of less than one hundred thousand
              dollars
  versions:
    - effective_from: '0001-01-01'
      formula: '100000'

credit_cap_per_policy

Parameter

source: C.R.S. 39-22-122(3)

- name: credit_cap_per_policy
  kind: parameter
  dtype: Money
  unit: USD
  period: Year
  source: C.R.S. 39-22-122(3)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-122
            excerpt: shall not exceed one hundred fifty dollars for each policy
  versions:
    - effective_from: '0001-01-01'
      formula: '150'

unused_long_term_care_insurance_credit_is_refundable

Derived

source: C.R.S. 39-22-122(4)

- name: unused_long_term_care_insurance_credit_is_refundable
  kind: derived
  entity: TaxUnit
  dtype: Judgment
  period: Year
  source: C.R.S. 39-22-122(4)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: predicate
          source:
            corpus_citation_path: us-co/statute/39/39-22-122
            excerpt: shall not be refunded to the individual
  versions:
    - effective_from: '0001-01-01'
      formula: 'false'

unused_long_term_care_insurance_credit_may_be_carried_forward

Derived

source: C.R.S. 39-22-122(4)

- name: unused_long_term_care_insurance_credit_may_be_carried_forward
  kind: derived
  entity: TaxUnit
  dtype: Judgment
  period: Year
  source: C.R.S. 39-22-122(4)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: predicate
          source:
            corpus_citation_path: us-co/statute/39/39-22-122
            excerpt: >-
              shall not be carried forward as tax credits against the resident individual's
              subsequent years' income tax liability
  versions:
    - effective_from: '0001-01-01'
      formula: 'false'

▸citations (1)

References

This rule cites 1 other rule.

CO 39 § 10-19-103 (5)inferredCO › Statutes › Title 39 › § 10-19-103 › (5)

(1) Any resident individual who incurs an expense in purchasing or making a payment upon a policy of long-term care insurance for the individual or the individual's spouse shall be allowed a credit against the income taxes due on the individual's income under this article. The credit shall be an amount equal to twenty-five percent of the amount expended for such insurance during the taxable year for which the credit is claimed. For the purposes of this section, long-term care insurance shall have the same meaning as in section 10-19-103 (5), C.R.S.

(2) Notwithstanding any other provision of this section to the contrary, a credit shall only be allowed to:

(a)An individual filing a single return with a federal…#

(a) An individual filing a single return with a federal taxable income of less than fifty thousand dollars for the tax year for which the credit is claimed;

(b)Two individuals filing a joint return with a federal…#

(b) Two individuals filing a joint return with a federal taxable income of less than fifty thousand dollars for the tax year for which the credit is claimed if claiming the credit for one policy; or

(c)Two individuals filing a joint return with a federal…#

(c) Two individuals filing a joint return with a federal taxable income of less than one hundred thousand dollars for the tax year for which the credit is claimed if claiming the credit for two policies or for a joint policy that covers each individual separately.

(3) Notwithstanding any other provision of this section to the contrary, the amount of credit claimed pursuant to this section shall not exceed one hundred fifty dollars for each policy for which a credit is claimed pursuant to this section.

(4) If the credit allowed under subsection (1) of this section exceeds the income taxes due on the resident individual's income, the amount of the credit not used to offset income taxes shall not be carried forward as tax credits against the resident individual's subsequent years' income tax liability and shall not be refunded to the individual.

(5) Any credit allowed pursuant to the provisions of this section shall be published in rules promulgated by the executive director of the department of revenue in accordance with article 4 of title 24, C.R.S., and shall be included in income tax forms for that taxable year.