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us-co/statute/39/39-22-343 — Election · Axiom

Election

4 rules0 of 2 subsections

Official source

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special_return_review_period_yearsCO 39 § 39-22-343 · parameter

Colo. Rev. Stat. § 39-22-343(1)(c)(III)

name: special_return_review_period_years
kind: parameter
dtype: Count
source: Colo. Rev. Stat. § 39-22-343(1)(c)(III)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us-co/statute/39/39-22-343
          excerpt: >-
            the department shall have one year from the date the composite
            amended tax return is filed to review the return
versions:
  - effective_from: '2023-09-01'
    formula: '1'

special_return_assessment_period_yearsCO 39 § 39-22-343 · parameter

Colo. Rev. Stat. § 39-22-343(1)(c)(III)

name: special_return_assessment_period_years
kind: parameter
dtype: Count
source: Colo. Rev. Stat. § 39-22-343(1)(c)(III)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us-co/statute/39/39-22-343
          excerpt: within one year after a final determination is made
versions:
  - effective_from: '2023-09-01'
    formula: '1'

special_return_enforcement_period_yearsCO 39 § 39-22-343 · parameter

Colo. Rev. Stat. § 39-22-343(1)(c)(III)

name: special_return_enforcement_period_years
kind: parameter
dtype: Count
source: Colo. Rev. Stat. § 39-22-343(1)(c)(III)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us-co/statute/39/39-22-343
          excerpt: >-
            enforced at any time within six years from the date of the final
            determination
versions:
  - effective_from: '2023-09-01'
    formula: '6'

special_return_late_penalty_and_interest_prohibition_appliesCO 39 § 39-22-343 · derived

Colo. Rev. Stat. § 39-22-343(1)(c)(II)

name: special_return_late_penalty_and_interest_prohibition_applies
kind: derived
entity: Business
dtype: Judgment
period: Year
source: Colo. Rev. Stat. § 39-22-343(1)(c)(II)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us-co/statute/39/39-22-343
          excerpt: >-
            if an S corporation or partnership files a return specified in
            subsection (1)(c)(I)
      - path: versions[0].formula
        kind: predicate
        source:
          corpus_citation_path: us-co/statute/39/39-22-343
          excerpt: shall incur any penalties for filing late nor owe interest
versions:
  - effective_from: '2023-09-01'
    formula: |-
      business_is_s_corporation_or_partnership
      and business_filed_special_composite_amended_return

▸rulespec code

Shown source

statutes/39/39-22-343.yaml

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View on GitHub

Rules

special_return_review_period_years

Parameter

source: Colo. Rev. Stat. § 39-22-343(1)(c)(III)

- name: special_return_review_period_years
  kind: parameter
  dtype: Count
  source: Colo. Rev. Stat. § 39-22-343(1)(c)(III)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-co/statute/39/39-22-343
            excerpt: >-
              the department shall have one year from the date the composite amended tax return is
              filed to review the return
  versions:
    - effective_from: '2023-09-01'
      formula: '1'

special_return_assessment_period_years

Parameter

source: Colo. Rev. Stat. § 39-22-343(1)(c)(III)

- name: special_return_assessment_period_years
  kind: parameter
  dtype: Count
  source: Colo. Rev. Stat. § 39-22-343(1)(c)(III)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-co/statute/39/39-22-343
            excerpt: within one year after a final determination is made
  versions:
    - effective_from: '2023-09-01'
      formula: '1'

special_return_enforcement_period_years

Parameter

source: Colo. Rev. Stat. § 39-22-343(1)(c)(III)

- name: special_return_enforcement_period_years
  kind: parameter
  dtype: Count
  source: Colo. Rev. Stat. § 39-22-343(1)(c)(III)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-co/statute/39/39-22-343
            excerpt: enforced at any time within six years from the date of the final determination
  versions:
    - effective_from: '2023-09-01'
      formula: '6'

special_return_late_penalty_and_interest_prohibition_applies

Derived

source: Colo. Rev. Stat. § 39-22-343(1)(c)(II)

- name: special_return_late_penalty_and_interest_prohibition_applies
  kind: derived
  entity: Business
  dtype: Judgment
  period: Year
  source: Colo. Rev. Stat. § 39-22-343(1)(c)(II)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-co/statute/39/39-22-343
            excerpt: if an S corporation or partnership files a return specified in subsection (1)(c)(I)
        - path: versions[0].formula
          kind: predicate
          source:
            corpus_citation_path: us-co/statute/39/39-22-343
            excerpt: shall incur any penalties for filing late nor owe interest
  versions:
    - effective_from: '2023-09-01'
      formula: |-
        business_is_s_corporation_or_partnership
        and business_filed_special_composite_amended_return

▸citations (6)

References

This rule cites 6 other rules.

CO 39 § 39-22-201inferredCO › Statutes › Title 39 › § 39-22-201
CO 39 § 39-22-601inferredCO › Statutes › Title 39 › § 39-22-601
CO 39 § 39-22-601inferredCO › Statutes › Title 39 › § 39-22-601
CO 39 § 39-21-107 (2)inferredCO › Statutes › Title 39 › § 39-21-107 › (2)
CO 39 § 39-21-103inferredCO › Statutes › Title 39 › § 39-21-103
CO 39 § 39-21-103 (8)inferredCO › Statutes › Title 39 › § 39-21-103 › (8)

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Election

4 rules0 of 2 subsections

Official source

graph ↗build calculator ↗

in view

Whole section

Encodings · 4

special_return_review_period_yearsCO 39 § 39-22-343 · parameter

Colo. Rev. Stat. § 39-22-343(1)(c)(III)

name: special_return_review_period_years
kind: parameter
dtype: Count
source: Colo. Rev. Stat. § 39-22-343(1)(c)(III)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us-co/statute/39/39-22-343
          excerpt: >-
            the department shall have one year from the date the composite
            amended tax return is filed to review the return
versions:
  - effective_from: '2023-09-01'
    formula: '1'

special_return_assessment_period_yearsCO 39 § 39-22-343 · parameter

Colo. Rev. Stat. § 39-22-343(1)(c)(III)

name: special_return_assessment_period_years
kind: parameter
dtype: Count
source: Colo. Rev. Stat. § 39-22-343(1)(c)(III)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us-co/statute/39/39-22-343
          excerpt: within one year after a final determination is made
versions:
  - effective_from: '2023-09-01'
    formula: '1'

special_return_enforcement_period_yearsCO 39 § 39-22-343 · parameter

Colo. Rev. Stat. § 39-22-343(1)(c)(III)

name: special_return_enforcement_period_years
kind: parameter
dtype: Count
source: Colo. Rev. Stat. § 39-22-343(1)(c)(III)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us-co/statute/39/39-22-343
          excerpt: >-
            enforced at any time within six years from the date of the final
            determination
versions:
  - effective_from: '2023-09-01'
    formula: '6'

special_return_late_penalty_and_interest_prohibition_appliesCO 39 § 39-22-343 · derived

Colo. Rev. Stat. § 39-22-343(1)(c)(II)

name: special_return_late_penalty_and_interest_prohibition_applies
kind: derived
entity: Business
dtype: Judgment
period: Year
source: Colo. Rev. Stat. § 39-22-343(1)(c)(II)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us-co/statute/39/39-22-343
          excerpt: >-
            if an S corporation or partnership files a return specified in
            subsection (1)(c)(I)
      - path: versions[0].formula
        kind: predicate
        source:
          corpus_citation_path: us-co/statute/39/39-22-343
          excerpt: shall incur any penalties for filing late nor owe interest
versions:
  - effective_from: '2023-09-01'
    formula: |-
      business_is_s_corporation_or_partnership
      and business_filed_special_composite_amended_return

▸rulespec code

Shown source

statutes/39/39-22-343.yaml

Displaying the canonical repository encoding.

View on GitHub

Rules

special_return_review_period_years

Parameter

source: Colo. Rev. Stat. § 39-22-343(1)(c)(III)

- name: special_return_review_period_years
  kind: parameter
  dtype: Count
  source: Colo. Rev. Stat. § 39-22-343(1)(c)(III)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-co/statute/39/39-22-343
            excerpt: >-
              the department shall have one year from the date the composite amended tax return is
              filed to review the return
  versions:
    - effective_from: '2023-09-01'
      formula: '1'

special_return_assessment_period_years

Parameter

source: Colo. Rev. Stat. § 39-22-343(1)(c)(III)

- name: special_return_assessment_period_years
  kind: parameter
  dtype: Count
  source: Colo. Rev. Stat. § 39-22-343(1)(c)(III)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-co/statute/39/39-22-343
            excerpt: within one year after a final determination is made
  versions:
    - effective_from: '2023-09-01'
      formula: '1'

special_return_enforcement_period_years

Parameter

source: Colo. Rev. Stat. § 39-22-343(1)(c)(III)

- name: special_return_enforcement_period_years
  kind: parameter
  dtype: Count
  source: Colo. Rev. Stat. § 39-22-343(1)(c)(III)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-co/statute/39/39-22-343
            excerpt: enforced at any time within six years from the date of the final determination
  versions:
    - effective_from: '2023-09-01'
      formula: '6'

special_return_late_penalty_and_interest_prohibition_applies

Derived

source: Colo. Rev. Stat. § 39-22-343(1)(c)(II)

- name: special_return_late_penalty_and_interest_prohibition_applies
  kind: derived
  entity: Business
  dtype: Judgment
  period: Year
  source: Colo. Rev. Stat. § 39-22-343(1)(c)(II)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-co/statute/39/39-22-343
            excerpt: if an S corporation or partnership files a return specified in subsection (1)(c)(I)
        - path: versions[0].formula
          kind: predicate
          source:
            corpus_citation_path: us-co/statute/39/39-22-343
            excerpt: shall incur any penalties for filing late nor owe interest
  versions:
    - effective_from: '2023-09-01'
      formula: |-
        business_is_s_corporation_or_partnership
        and business_filed_special_composite_amended_return

▸citations (6)

References

This rule cites 6 other rules.

CO 39 § 39-22-201inferredCO › Statutes › Title 39 › § 39-22-201
CO 39 § 39-22-601inferredCO › Statutes › Title 39 › § 39-22-601
CO 39 § 39-22-601inferredCO › Statutes › Title 39 › § 39-22-601
CO 39 § 39-21-107 (2)inferredCO › Statutes › Title 39 › § 39-21-107 › (2)
CO 39 § 39-21-103inferredCO › Statutes › Title 39 › § 39-21-103
CO 39 § 39-21-103 (8)inferredCO › Statutes › Title 39 › § 39-21-103 › (8)

(1) (a) Notwithstanding sections 39-22-201, 39-22-302, and 39-22-322, and except as provided in subsection (2) of this section, for income tax years commencing on or after January 1, 2018, an S corporation or partnership may annually elect to be subject to tax at the entity level for the taxable period.

(b)Except as set forth in subsection (1)(c)(I) of this…#

(b) Except as set forth in subsection (1)(c)(I) of this section, the S corporation or partnership shall make the election on the return filed by such S corporation or partnership under section 39-22-601. The filing of a return filed under section 39-22-601 or subsection (1)(c)(I) of this section is binding on all electing pass-through entity owners.

(c)(I) For income tax years commencing on or after January…#

(c) (I) For income tax years commencing on or after January 1, 2018, but prior to January 1, 2022, the S corporation or partnership must make the election on or after September 1, 2023, but before July 1, 2024, in a composite amended tax return for all of the years for which the election is made that is filed on behalf of the S corporation or partnership and all of the electing pass-through entity owners. The department of revenue shall establish the return, which shall not include any changes to the past returns other than those that are directly related to the election. The provisions of sections 39-21-107 (2) and 39-21-108 (1) shall not apply to the payment or refund of the tax made pursuant to the return.

(II) Notwithstanding any other provision of law, if an S corporation or partnership files a return specified in subsection (1)(c)(I) of this section, neither the S corporation or partnership nor the electing pass-through entity owners shall incur any penalties for filing late nor owe interest on such amounts, and the department shall not be required to pay penalties or interest on any amounts owed to the taxpayers.

(III) Notwithstanding the dates provided in subsection (1)(c)(I) of this section, the department shall have one year from the date the composite amended tax return is filed to review the return and make a written proposed adjustment in accordance with section 39-21-103. The department must make any assessment within one year after a final determination is made under section 39-21-103 (8). Any final determination made as specified in this subsection (1)(c)(III) may be enforced at any time within six years from the date of the final determination.

(2) The election allowed under subsection (1) of this section is only allowed in an income tax year where there is a limitation on the deductions allowed to individuals under section 164 of the internal revenue code.