us-co/statute/39/39-22-129 — Child tax credit - legislative declaration - definitions

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us-co/statute/39/39-22-129 — Child tax credit - legislative declaration - definitions - repeal · Axiom

(1) (a) The general assembly hereby finds and declares that:

(I) The federal child tax credit, which includes the refundable portion of the credit commonly known as the additional child tax credit, supports low- and middle-income working families whose earnings are below an income threshold and who have children under seventeen years of age;

(II) Since its establishment at the federal level in 1997, the credit has increased family income, reduced child poverty among families with children, and supported local economies; and

(III) The credit has a positive impact on the early childhood development and health of children whose families gain income from the credit.

(b)Now, therefore, it is the intent of the general…#

(b) Now, therefore, it is the intent of the general assembly to establish a permanent and refundable state child tax credit for eligible Colorado taxpayers. The intended purpose of this credit is to support Colorado working families with young children, reduce child poverty, and to help Colorado's economy.

(2) As used in this section:

(a) (I) Eligible child means, for income tax years commencing before January 1, 2024, a qualifying child for purposes of the federal child tax credit who is under six years of age at the end of the taxable year for which the credit is claimed.

(II) Eligible child means, for income tax years commencing on or after January 1, 2024, a qualifying child, as defined in section 152 (c) of the internal revenue code, who is under six years of age at the end of the taxable year for which the credit is claimed.

(b) Federal child tax credit means the child tax credit allowed under section 24 of the internal revenue code, or any successor section, and includes the refundable portion of the tax credit, which portion is referred to as the additional child credit.

(3) (a) Except as provided in subsection (4) of this section, for income tax years commencing on or after January 1, 2022, but before January 1, 2024, a resident individual who claims a federal child tax credit for an eligible child on the individual's federal tax return is allowed a child tax credit in the amount set forth in subsection (3)(b) or (3)(c) of this section against the income taxes due under this article 22 for the same tax year.

(b) (I) For a resident individual who files a single return, the amount of the credit is equal to:

(A) Thirty percent of the federal child tax credit that the resident individual claimed on his or her federal tax return for each eligible child, if the individual's federal adjusted gross income is twenty-five thousand dollars or less;

(B) Fifteen percent of the federal child tax credit that the resident individual claimed on his or her federal tax return for each eligible child, if the individual's federal adjusted gross income is greater than twenty-five thousand dollars but less than or equal to fifty thousand dollars; and

(C) Five percent of the federal child tax credit that the resident individual claimed on his or her federal tax return for each eligible child, if the individual's federal adjusted gross income is greater than fifty thousand dollars but less than or equal to seventy-five thousand dollars.

(II) A resident individual who files a single return and whose federal adjusted gross income is greater than seventy-five thousand dollars is not allowed a credit under this section.

(c)(I) For two resident individuals who file a joint…#

(A) Thirty percent of the federal child tax credit that the resident individuals claimed on their federal tax return for each eligible child, if the individuals' federal adjusted gross income is thirty-five thousand dollars or less;

(B) Fifteen percent of the federal child tax credit that the resident individuals claimed on their federal tax return for each eligible child, if the individuals' federal adjusted gross income is greater than thirty-five thousand dollars but less than or equal to sixty thousand dollars; and

(C) Five percent of the federal child tax credit that the resident individuals claimed on their federal tax return for each eligible child, if the individuals' federal adjusted gross income is greater than sixty thousand dollars but less than or equal to eighty-five thousand dollars.

(II) Two resident individuals who file a joint return and whose federal adjusted gross income is greater than eighty-five thousand dollars are not allowed a credit under this section.

(3.5) (a) Except as provided in subsection (4) of this section, for income tax years commencing on or after January 1, 2022, but before January 1, 2024, a resident individual who could have claimed a federal child tax credit for an eligible child on the individual's federal tax return had section 24 (h)(7) of the internal revenue code not applied to the definition of qualifying child, is allowed a child tax credit in the amount set forth in subsection (3.5)(b) or (3.5)(c) of this section against the income taxes due under this article 22 for the same tax year.

(b) (I) For a resident individual who files a single return, the amount of the credit is equal to:

(A) Thirty percent of the federal child tax credit that the resident individual could have claimed on their federal tax return for each eligible child, if the individual's federal adjusted gross income is twenty-five thousand dollars or less;

(B) Fifteen percent of the federal child tax credit that the resident individual could have claimed on their federal tax return for each eligible child, if the individual's federal adjusted gross income is greater than twenty-five thousand dollars but less than or equal to fifty thousand dollars; and

(C) Five percent of the federal child tax credit that the resident individual could have claimed on their federal tax return for each eligible child, if the individual's federal adjusted gross income is greater than fifty thousand dollars but less than or equal to seventy-five thousand dollars.

(II) A resident individual who files a single return and whose federal adjusted gross income is greater than seventy-five thousand dollars is not allowed a credit under this section.

(A) Thirty percent of the federal child tax credit that the resident individuals could have claimed on their federal tax return for each eligible child, if the individuals' federal adjusted gross income is thirty-five thousand dollars or less;

(B) Fifteen percent of the federal child tax credit that the resident individuals could have claimed on their federal tax return for each eligible child, if the individuals' federal adjusted gross income is greater than thirty-five thousand dollars but less than or equal to sixty thousand dollars; and

(C) Five percent of the federal child tax credit that the resident individuals could have claimed on their federal tax return for each eligible child, if the individuals' federal adjusted gross income is greater than sixty thousand dollars but less than or equal to eighty-five thousand dollars.

(II) Two resident individuals who file a joint return and whose federal adjusted gross income is greater than eighty-five thousand dollars are not allowed a credit under this section.

(4) In any income tax year commencing on or after January 1, 2022, but before January 1, 2024, if the changes specified in section 9611 of the American Rescue Plan Act of 2021, Pub.L. 117-2, are no longer applicable to the federal child tax credit allowed in section 24 of the internal revenue code, then the amount of the child tax credit allowed in this section is as follows:

(a) (I) For a resident individual who files a single return, the amount of the credit is equal to:

(A) Sixty percent of the federal child tax credit that the resident individual claimed or could have claimed on their federal tax return for each eligible child, if the individual's federal adjusted gross income is twenty-five thousand dollars or less;

(B) Thirty percent of the federal child tax credit that the resident individual claimed or could have claimed on their federal tax return for each eligible child, if the individual's federal adjusted gross income is greater than twenty-five thousand dollars but less than or equal to fifty thousand dollars; and

(C) Ten percent of the federal child tax credit that the resident individual claimed or could have claimed on their federal tax return for each eligible child, if the individual's federal adjusted gross income is greater than fifty thousand dollars but less than or equal to seventy-five thousand dollars.

(II) A resident individual who files a single return and whose federal adjusted gross income is greater than seventy-five thousand dollars is not allowed a credit under this section.

(b) (I) For two resident individuals who file a joint return, the amount of the credit is equal to:

(A) Sixty percent of the federal child tax credit that the resident individuals claimed or could have claimed on their federal tax return for each eligible child, if the individuals' federal adjusted gross income is thirty-five thousand dollars or less;

(B) Thirty percent of the federal child tax credit that the resident individuals claimed or could have claimed on their federal tax return for each eligible child, if the individuals' federal adjusted gross income is greater than thirty-five thousand dollars but less than or equal to sixty thousand dollars; and

(C) Ten percent of the federal child tax credit that the resident individuals claimed or could have claimed on their federal tax return for each eligible child, if the individuals' federal adjusted gross income is greater than sixty thousand dollars but less than or equal to eighty-five thousand dollars.

(II) Two resident individuals who file a joint return and whose federal adjusted gross income is greater than eighty-five thousand dollars are not allowed a credit under this section.

(4.5) (a) (I) For income tax years commencing on or after January 1, 2024, a resident individual who files a single return is allowed a child tax credit against the income taxes due under this article 22 for each eligible child of the taxpayer in the following amounts:

(A) One thousand two hundred dollars if the individual's federal adjusted gross income is twenty-five thousand dollars or less;

(B) Six hundred dollars if the individual's federal adjusted gross income is greater than twenty-five thousand dollars but less than or equal to fifty thousand dollars; and

(C) Two hundred dollars if the individual's federal adjusted gross income is greater than fifty thousand dollars but less than or equal to seventy-five thousand dollars.

(II) For income tax years commencing on or after January 1, 2024, two resident individuals who file a joint return are allowed a child tax credit against the income taxes due under this article 22 for each eligible child of the taxpayer in the following amounts:

(A) One thousand two hundred dollars if the individuals' federal adjusted gross income is thirty-five thousand dollars or less;

(B) Six hundred dollars if the individuals' federal adjusted gross income is greater than thirty-five thousand dollars but less than or equal to sixty thousand dollars; and

(C) Two hundred dollars if the individuals' federal adjusted gross income is greater than sixty thousand dollars but less than or equal to eighty-five thousand dollars.

(b) (I) A resident individual who files a single return and whose federal adjusted gross income is greater than seventy-five thousand dollars is not allowed a credit under this section.

(II) Two resident individuals who file a joint return and whose federal adjusted gross income is greater than eighty-five thousand dollars are not allowed a credit under this section.

(5) The amount of the credit allowed under this section that exceeds the resident individual's income taxes due is refunded to the individual.

(6) In the case of a part-year resident, the credit allowed under this section is apportioned in the ratio determined under section 39-22-110 (1).

(7) The credit allowed under this section is not considered to be income or resources for the purpose of determining eligibility for the payment of public assistance benefits and medical assistance benefits authorized under state law or for a payment made under any other publicly funded programs.

(8) (a) For income tax years commencing on or after January 1, 2025, the department of revenue shall adjust the federal adjusted gross income amounts set forth in this section to reflect inflation for each income tax year in which the credit described in this section is allowed if cumulative inflation since the last adjustment, when applied to the current limits, results in an increase of at least one thousand dollars when the adjusted limits are rounded to the nearest one thousand dollars.

(b) As used in this subsection (8), inflation means the annual percentage change in the United States department of labor bureau of labor statistics consumer price index for Denver-Aurora-Lakewood for all items paid by all urban consumers, or its applicable successor index.

(9) Subsections (3), (3.5), and (4) of this section and this subsection (9) are repealed, effective December 31, 2026.

in view

Whole section

Encodings · 14

single_return_low_income_upper_thresholdCO 39 § 39-22-129 (4.5) · parameter

39-22-129(4.5)(a)(I)(A)

name: single_return_low_income_upper_threshold
kind: parameter
dtype: Money
unit: USD
source: 39-22-129(4.5)(a)(I)(A)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-129
          excerpt: >-
            federal adjusted gross income is twenty-five thousand dollars or
            less
versions:
  - effective_from: '2024-01-01'
    formula: '25000'

single_return_middle_income_lower_thresholdCO 39 § 39-22-129 (4.5) · parameter

39-22-129(4.5)(a)(I)(B)

name: single_return_middle_income_lower_threshold
kind: parameter
dtype: Money
unit: USD
source: 39-22-129(4.5)(a)(I)(B)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-129
          excerpt: greater than twenty-five thousand dollars
versions:
  - effective_from: '2024-01-01'
    formula: '25000'

single_return_middle_income_upper_thresholdCO 39 § 39-22-129 (4.5) · parameter

39-22-129(4.5)(a)(I)(B)

name: single_return_middle_income_upper_threshold
kind: parameter
dtype: Money
unit: USD
source: 39-22-129(4.5)(a)(I)(B)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-129
          excerpt: less than or equal to fifty thousand dollars
versions:
  - effective_from: '2024-01-01'
    formula: '50000'

single_return_high_income_lower_thresholdCO 39 § 39-22-129 (4.5) · parameter

39-22-129(4.5)(a)(I)(C)

name: single_return_high_income_lower_threshold
kind: parameter
dtype: Money
unit: USD
source: 39-22-129(4.5)(a)(I)(C)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-129
          excerpt: greater than fifty thousand dollars
versions:
  - effective_from: '2024-01-01'
    formula: '50000'

single_return_high_income_upper_thresholdCO 39 § 39-22-129 (4.5) · parameter

39-22-129(4.5)(a)(I)(C), 39-22-129(4.5)(b)(I)

name: single_return_high_income_upper_threshold
kind: parameter
dtype: Money
unit: USD
source: 39-22-129(4.5)(a)(I)(C), 39-22-129(4.5)(b)(I)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-129
          excerpt: less than or equal to seventy-five thousand dollars
      - path: versions[0].formula
        kind: exception
        source:
          corpus_citation_path: us-co/statute/39/39-22-129
          excerpt: greater than seventy-five thousand dollars is not allowed
versions:
  - effective_from: '2024-01-01'
    formula: '75000'

joint_return_low_income_upper_thresholdCO 39 § 39-22-129 (4.5) · parameter

39-22-129(4.5)(a)(II)(A)

name: joint_return_low_income_upper_threshold
kind: parameter
dtype: Money
unit: USD
source: 39-22-129(4.5)(a)(II)(A)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-129
          excerpt: >-
            federal adjusted gross income is thirty-five thousand dollars or
            less
versions:
  - effective_from: '2024-01-01'
    formula: '35000'

joint_return_middle_income_lower_thresholdCO 39 § 39-22-129 (4.5) · parameter

39-22-129(4.5)(a)(II)(B)

name: joint_return_middle_income_lower_threshold
kind: parameter
dtype: Money
unit: USD
source: 39-22-129(4.5)(a)(II)(B)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-129
          excerpt: greater than thirty-five thousand dollars
versions:
  - effective_from: '2024-01-01'
    formula: '35000'

joint_return_middle_income_upper_thresholdCO 39 § 39-22-129 (4.5) · parameter

39-22-129(4.5)(a)(II)(B)

name: joint_return_middle_income_upper_threshold
kind: parameter
dtype: Money
unit: USD
source: 39-22-129(4.5)(a)(II)(B)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-129
          excerpt: less than or equal to sixty thousand dollars
versions:
  - effective_from: '2024-01-01'
    formula: '60000'

joint_return_high_income_lower_thresholdCO 39 § 39-22-129 (4.5) · parameter

39-22-129(4.5)(a)(II)(C)

name: joint_return_high_income_lower_threshold
kind: parameter
dtype: Money
unit: USD
source: 39-22-129(4.5)(a)(II)(C)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-129
          excerpt: greater than sixty thousand dollars
versions:
  - effective_from: '2024-01-01'
    formula: '60000'

joint_return_high_income_upper_thresholdCO 39 § 39-22-129 (4.5) · parameter

39-22-129(4.5)(a)(II)(C), 39-22-129(4.5)(b)(II)

name: joint_return_high_income_upper_threshold
kind: parameter
dtype: Money
unit: USD
source: 39-22-129(4.5)(a)(II)(C), 39-22-129(4.5)(b)(II)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-129
          excerpt: less than or equal to eighty-five thousand dollars
      - path: versions[0].formula
        kind: exception
        source:
          corpus_citation_path: us-co/statute/39/39-22-129
          excerpt: greater than eighty-five thousand dollars are not allowed
versions:
  - effective_from: '2024-01-01'
    formula: '85000'

low_income_child_credit_amountCO 39 § 39-22-129 (4.5) · parameter

39-22-129(4.5)(a)(I)(A), 39-22-129(4.5)(a)(II)(A)

name: low_income_child_credit_amount
kind: parameter
dtype: Money
unit: USD
source: 39-22-129(4.5)(a)(I)(A), 39-22-129(4.5)(a)(II)(A)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-129
          excerpt: One thousand two hundred dollars
versions:
  - effective_from: '2024-01-01'
    formula: '1200'

middle_income_child_credit_amountCO 39 § 39-22-129 (4.5) · parameter

39-22-129(4.5)(a)(I)(B), 39-22-129(4.5)(a)(II)(B)

name: middle_income_child_credit_amount
kind: parameter
dtype: Money
unit: USD
source: 39-22-129(4.5)(a)(I)(B), 39-22-129(4.5)(a)(II)(B)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-129
          excerpt: Six hundred dollars
versions:
  - effective_from: '2024-01-01'
    formula: '600'

high_income_child_credit_amountCO 39 § 39-22-129 (4.5) · parameter

39-22-129(4.5)(a)(I)(C), 39-22-129(4.5)(a)(II)(C)

name: high_income_child_credit_amount
kind: parameter
dtype: Money
unit: USD
source: 39-22-129(4.5)(a)(I)(C), 39-22-129(4.5)(a)(II)(C)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-22-129
          excerpt: Two hundred dollars
versions:
  - effective_from: '2024-01-01'
    formula: '200'

child_tax_credit_per_eligible_childCO 39 § 39-22-129 (4.5) · derived

39-22-129(4.5)(a)-(b)

name: child_tax_credit_per_eligible_child
kind: derived
entity: Person
dtype: Money
period: Year
unit: USD
source: 39-22-129(4.5)(a)-(b)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us-co/statute/39/39-22-129
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us-co:statutes/39/39-22-129/4.5#single_return_low_income_upper_threshold
          output: single_return_low_income_upper_threshold
          hash: sha256:local
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us-co:statutes/39/39-22-129/4.5#single_return_middle_income_lower_threshold
          output: single_return_middle_income_lower_threshold
          hash: sha256:local
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us-co:statutes/39/39-22-129/4.5#single_return_middle_income_upper_threshold
          output: single_return_middle_income_upper_threshold
          hash: sha256:local
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us-co:statutes/39/39-22-129/4.5#single_return_high_income_lower_threshold
          output: single_return_high_income_lower_threshold
          hash: sha256:local
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us-co:statutes/39/39-22-129/4.5#single_return_high_income_upper_threshold
          output: single_return_high_income_upper_threshold
          hash: sha256:local
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us-co:statutes/39/39-22-129/4.5#joint_return_low_income_upper_threshold
          output: joint_return_low_income_upper_threshold
          hash: sha256:local
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us-co:statutes/39/39-22-129/4.5#joint_return_middle_income_lower_threshold
          output: joint_return_middle_income_lower_threshold
          hash: sha256:local
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us-co:statutes/39/39-22-129/4.5#joint_return_middle_income_upper_threshold
          output: joint_return_middle_income_upper_threshold
          hash: sha256:local
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us-co:statutes/39/39-22-129/4.5#joint_return_high_income_lower_threshold
          output: joint_return_high_income_lower_threshold
          hash: sha256:local
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us-co:statutes/39/39-22-129/4.5#joint_return_high_income_upper_threshold
          output: joint_return_high_income_upper_threshold
          hash: sha256:local
      - path: versions[0].formula
        kind: import
        import:
          target: us-co:statutes/39/39-22-129/4.5#low_income_child_credit_amount
          output: low_income_child_credit_amount
          hash: sha256:local
      - path: versions[0].formula
        kind: import
        import:
          target: us-co:statutes/39/39-22-129/4.5#middle_income_child_credit_amount
          output: middle_income_child_credit_amount
          hash: sha256:local
      - path: versions[0].formula
        kind: import
        import:
          target: us-co:statutes/39/39-22-129/4.5#high_income_child_credit_amount
          output: high_income_child_credit_amount
          hash: sha256:local
versions:
  - effective_from: '2024-01-01'
    formula: >-
      if taxpayer_is_resident_individual and taxpayer_files_single_return and
      federal_adjusted_gross_income <= single_return_low_income_upper_threshold:
        low_income_child_credit_amount
      else:
        if taxpayer_is_resident_individual and taxpayer_files_single_return and federal_adjusted_gross_income > single_return_middle_income_lower_threshold and federal_adjusted_gross_income <= single_return_middle_income_upper_threshold:
          middle_income_child_credit_amount
        else:
          if taxpayer_is_resident_individual and taxpayer_files_single_return and federal_adjusted_gross_income > single_return_high_income_lower_threshold and federal_adjusted_gross_income <= single_return_high_income_upper_threshold:
            high_income_child_credit_amount
          else:
            if taxpayers_are_resident_individuals and taxpayers_file_joint_return and federal_adjusted_gross_income <= joint_return_low_income_upper_threshold:
              low_income_child_credit_amount
            else:
              if taxpayers_are_resident_individuals and taxpayers_file_joint_return and federal_adjusted_gross_income > joint_return_middle_income_lower_threshold and federal_adjusted_gross_income <= joint_return_middle_income_upper_threshold:
                middle_income_child_credit_amount
              else:
                if taxpayers_are_resident_individuals and taxpayers_file_joint_return and federal_adjusted_gross_income > joint_return_high_income_lower_threshold and federal_adjusted_gross_income <= joint_return_high_income_upper_threshold:
                  high_income_child_credit_amount
                else:
                  0

▸rulespec code

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Rules

single_return_low_income_upper_threshold

Parameter(4.5) in text ↖

source: 39-22-129(4.5)(a)(I)(A)

- name: single_return_low_income_upper_threshold
  kind: parameter
  dtype: Money
  unit: USD
  source: 39-22-129(4.5)(a)(I)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-129
            excerpt: federal adjusted gross income is twenty-five thousand dollars or less
  versions:
    - effective_from: '2024-01-01'
      formula: '25000'

single_return_middle_income_lower_threshold

Parameter(4.5) in text ↖

source: 39-22-129(4.5)(a)(I)(B)

- name: single_return_middle_income_lower_threshold
  kind: parameter
  dtype: Money
  unit: USD
  source: 39-22-129(4.5)(a)(I)(B)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-129
            excerpt: greater than twenty-five thousand dollars
  versions:
    - effective_from: '2024-01-01'
      formula: '25000'

single_return_middle_income_upper_threshold

Parameter(4.5) in text ↖

source: 39-22-129(4.5)(a)(I)(B)

- name: single_return_middle_income_upper_threshold
  kind: parameter
  dtype: Money
  unit: USD
  source: 39-22-129(4.5)(a)(I)(B)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-129
            excerpt: less than or equal to fifty thousand dollars
  versions:
    - effective_from: '2024-01-01'
      formula: '50000'

single_return_high_income_lower_threshold

Parameter(4.5) in text ↖

source: 39-22-129(4.5)(a)(I)(C)

- name: single_return_high_income_lower_threshold
  kind: parameter
  dtype: Money
  unit: USD
  source: 39-22-129(4.5)(a)(I)(C)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-129
            excerpt: greater than fifty thousand dollars
  versions:
    - effective_from: '2024-01-01'
      formula: '50000'

single_return_high_income_upper_threshold

Parameter(4.5) in text ↖

source: 39-22-129(4.5)(a)(I)(C), 39-22-129(4.5)(b)(I)

- name: single_return_high_income_upper_threshold
  kind: parameter
  dtype: Money
  unit: USD
  source: 39-22-129(4.5)(a)(I)(C), 39-22-129(4.5)(b)(I)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-129
            excerpt: less than or equal to seventy-five thousand dollars
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us-co/statute/39/39-22-129
            excerpt: greater than seventy-five thousand dollars is not allowed
  versions:
    - effective_from: '2024-01-01'
      formula: '75000'

joint_return_low_income_upper_threshold

Parameter(4.5) in text ↖

source: 39-22-129(4.5)(a)(II)(A)

- name: joint_return_low_income_upper_threshold
  kind: parameter
  dtype: Money
  unit: USD
  source: 39-22-129(4.5)(a)(II)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-129
            excerpt: federal adjusted gross income is thirty-five thousand dollars or less
  versions:
    - effective_from: '2024-01-01'
      formula: '35000'

joint_return_middle_income_lower_threshold

Parameter(4.5) in text ↖

source: 39-22-129(4.5)(a)(II)(B)

- name: joint_return_middle_income_lower_threshold
  kind: parameter
  dtype: Money
  unit: USD
  source: 39-22-129(4.5)(a)(II)(B)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-129
            excerpt: greater than thirty-five thousand dollars
  versions:
    - effective_from: '2024-01-01'
      formula: '35000'

joint_return_middle_income_upper_threshold

Parameter(4.5) in text ↖

source: 39-22-129(4.5)(a)(II)(B)

- name: joint_return_middle_income_upper_threshold
  kind: parameter
  dtype: Money
  unit: USD
  source: 39-22-129(4.5)(a)(II)(B)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-129
            excerpt: less than or equal to sixty thousand dollars
  versions:
    - effective_from: '2024-01-01'
      formula: '60000'

joint_return_high_income_lower_threshold

Parameter(4.5) in text ↖

source: 39-22-129(4.5)(a)(II)(C)

- name: joint_return_high_income_lower_threshold
  kind: parameter
  dtype: Money
  unit: USD
  source: 39-22-129(4.5)(a)(II)(C)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-129
            excerpt: greater than sixty thousand dollars
  versions:
    - effective_from: '2024-01-01'
      formula: '60000'

joint_return_high_income_upper_threshold

Parameter(4.5) in text ↖

source: 39-22-129(4.5)(a)(II)(C), 39-22-129(4.5)(b)(II)

- name: joint_return_high_income_upper_threshold
  kind: parameter
  dtype: Money
  unit: USD
  source: 39-22-129(4.5)(a)(II)(C), 39-22-129(4.5)(b)(II)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-129
            excerpt: less than or equal to eighty-five thousand dollars
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us-co/statute/39/39-22-129
            excerpt: greater than eighty-five thousand dollars are not allowed
  versions:
    - effective_from: '2024-01-01'
      formula: '85000'

low_income_child_credit_amount

Parameter(4.5) in text ↖

source: 39-22-129(4.5)(a)(I)(A), 39-22-129(4.5)(a)(II)(A)

- name: low_income_child_credit_amount
  kind: parameter
  dtype: Money
  unit: USD
  source: 39-22-129(4.5)(a)(I)(A), 39-22-129(4.5)(a)(II)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-129
            excerpt: One thousand two hundred dollars
  versions:
    - effective_from: '2024-01-01'
      formula: '1200'

middle_income_child_credit_amount

Parameter(4.5) in text ↖

source: 39-22-129(4.5)(a)(I)(B), 39-22-129(4.5)(a)(II)(B)

- name: middle_income_child_credit_amount
  kind: parameter
  dtype: Money
  unit: USD
  source: 39-22-129(4.5)(a)(I)(B), 39-22-129(4.5)(a)(II)(B)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-129
            excerpt: Six hundred dollars
  versions:
    - effective_from: '2024-01-01'
      formula: '600'

high_income_child_credit_amount

Parameter(4.5) in text ↖

source: 39-22-129(4.5)(a)(I)(C), 39-22-129(4.5)(a)(II)(C)

- name: high_income_child_credit_amount
  kind: parameter
  dtype: Money
  unit: USD
  source: 39-22-129(4.5)(a)(I)(C), 39-22-129(4.5)(a)(II)(C)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-22-129
            excerpt: Two hundred dollars
  versions:
    - effective_from: '2024-01-01'
      formula: '200'

child_tax_credit_per_eligible_child

Derived(4.5) in text ↖

source: 39-22-129(4.5)(a)-(b)

- name: child_tax_credit_per_eligible_child
  kind: derived
  entity: Person
  dtype: Money
  period: Year
  unit: USD
  source: 39-22-129(4.5)(a)-(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-co/statute/39/39-22-129
        - path: versions[0].formula
          kind: import
          import:
            target: us-co:statutes/39/39-22-129/4.5#single_return_low_income_upper_threshold
            output: single_return_low_income_upper_threshold
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us-co:statutes/39/39-22-129/4.5#single_return_middle_income_lower_threshold
            output: single_return_middle_income_lower_threshold
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us-co:statutes/39/39-22-129/4.5#single_return_middle_income_upper_threshold
            output: single_return_middle_income_upper_threshold
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us-co:statutes/39/39-22-129/4.5#single_return_high_income_lower_threshold
            output: single_return_high_income_lower_threshold
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us-co:statutes/39/39-22-129/4.5#single_return_high_income_upper_threshold
            output: single_return_high_income_upper_threshold
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us-co:statutes/39/39-22-129/4.5#joint_return_low_income_upper_threshold
            output: joint_return_low_income_upper_threshold
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us-co:statutes/39/39-22-129/4.5#joint_return_middle_income_lower_threshold
            output: joint_return_middle_income_lower_threshold
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us-co:statutes/39/39-22-129/4.5#joint_return_middle_income_upper_threshold
            output: joint_return_middle_income_upper_threshold
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us-co:statutes/39/39-22-129/4.5#joint_return_high_income_lower_threshold
            output: joint_return_high_income_lower_threshold
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us-co:statutes/39/39-22-129/4.5#joint_return_high_income_upper_threshold
            output: joint_return_high_income_upper_threshold
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us-co:statutes/39/39-22-129/4.5#low_income_child_credit_amount
            output: low_income_child_credit_amount
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us-co:statutes/39/39-22-129/4.5#middle_income_child_credit_amount
            output: middle_income_child_credit_amount
            hash: sha256:local
        - path: versions[0].formula
          kind: import
          import:
            target: us-co:statutes/39/39-22-129/4.5#high_income_child_credit_amount
            output: high_income_child_credit_amount
            hash: sha256:local
  versions:
    - effective_from: '2024-01-01'
      formula: >-
        if taxpayer_is_resident_individual and taxpayer_files_single_return and
        federal_adjusted_gross_income <= single_return_low_income_upper_threshold:
          low_income_child_credit_amount
        else:
          if taxpayer_is_resident_individual and taxpayer_files_single_return and federal_adjusted_gross_income > single_return_middle_income_lower_threshold and federal_adjusted_gross_income <= single_return_middle_income_upper_threshold:
            middle_income_child_credit_amount
          else:
            if taxpayer_is_resident_individual and taxpayer_files_single_return and federal_adjusted_gross_income > single_return_high_income_lower_threshold and federal_adjusted_gross_income <= single_return_high_income_upper_threshold:
              high_income_child_credit_amount
            else:
              if taxpayers_are_resident_individuals and taxpayers_file_joint_return and federal_adjusted_gross_income <= joint_return_low_income_upper_threshold:
                low_income_child_credit_amount
              else:
                if taxpayers_are_resident_individuals and taxpayers_file_joint_return and federal_adjusted_gross_income > joint_return_middle_income_lower_threshold and federal_adjusted_gross_income <= joint_return_middle_income_upper_threshold:
                  middle_income_child_credit_amount
                else:
                  if taxpayers_are_resident_individuals and taxpayers_file_joint_return and federal_adjusted_gross_income > joint_return_high_income_lower_threshold and federal_adjusted_gross_income <= joint_return_high_income_upper_threshold:
                    high_income_child_credit_amount
                  else:
                    0

▸citations (1)

References

This rule cites 1 other rule.

CO 39 § 39-22-110 (1)inferredCO › Statutes › Title 39 › § 39-22-110 › (1)