us-co/statute/39/39-29-115 — Penalties and interest

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us-co/statute/39/39-29-115 — Penalties and interest · Axiom

(1) Any person who fails to file a report or to pay the tax due thereon shall pay a penalty of thirty percent of the tax assessed or thirty dollars, whichever is greater, and the interest due under the provisions of section 39-21-110.5.

(1.5) Any person who fails to withhold income and make a payment required pursuant to section 39-29-111 shall pay a penalty of up to thirty percent of the required payment or thirty dollars, whichever is the greater amount, and the interest due under the provisions of section 39-21-110.5. Any person who withholds income pursuant to section 39-29-111 and who fails to file the annual report required by the rules promulgated by the department of revenue related to such withholding shall pay a penalty of up to fifteen percent of the amount of withholding that should have been reflected in the report or one thousand five hundred dollars, whichever is the lesser amount. The penalty set forth in this subsection (1.5) for failing to withhold income and make a payment shall not apply if the income was from a well that qualified for the exemption set forth in section 39-29-105 (1)(b) for the prior taxable year.

(2) Tax assessed pursuant to an error contained on a previously filed return which was due to negligence or disregard of the law shall have added thereto:

(a)A penalty of ten percent of the tax assessed; and#

(a) A penalty of ten percent of the tax assessed; and

(b)Penalty interest of one-half of one percent per month,…#

(b) Penalty interest of one-half of one percent per month, in addition to the interest due under section 39-21-110.5, on the tax assessed.

(3) (a) Except as set forth in paragraph (b) of this subsection (3), if any person fails, neglects, or refuses to file a report required by this article, the executive director may, upon such information as may be available to him, estimate the amount of tax due for the period for which no report was filed, with applicable penalties and interest, and mail such estimate to the last-known address of such person. The amount so estimated, together with the penalties and interest, shall become fixed, due, and payable, as if such person had filed a report showing such amounts unless, within ten days after receiving the estimate, such person files a true and correct report for the period and pays the tax, penalty, and interest due thereon.

(b) The executive director shall not send an estimate for a taxable year pursuant to paragraph (a) of this subsection (3) to a person who has less than two hundred fifty dollars withheld by all unit operators or first purchasers for the taxable year pursuant to section 39-29-111 (1), unless the executive director has good cause to believe that such person does not qualify for the exception to the filing requirement set forth in section 39-29-112 (7).

(4) The executive director may waive, for good cause shown, any of the penalties authorized by this section.

in view

Whole section

Encodings · 15

failure_to_file_or_pay_penalty_rateCO 39 § 39-29-115 · parameter

C.R.S. 39-29-115(1)

name: failure_to_file_or_pay_penalty_rate
kind: parameter
dtype: Rate
source: C.R.S. 39-29-115(1)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-29-115
          excerpt: a penalty of thirty percent of the tax assessed
versions:
  - effective_from: '0001-01-01'
    formula: '0.30'

failure_to_file_or_pay_minimum_penaltyCO 39 § 39-29-115 · parameter

C.R.S. 39-29-115(1)

name: failure_to_file_or_pay_minimum_penalty
kind: parameter
dtype: Money
unit: USD
source: C.R.S. 39-29-115(1)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-29-115
          excerpt: or thirty dollars, whichever is greater
versions:
  - effective_from: '0001-01-01'
    formula: '30'

failure_to_withhold_and_pay_maximum_penalty_rateCO 39 § 39-29-115 · parameter

C.R.S. 39-29-115(1.5)

name: failure_to_withhold_and_pay_maximum_penalty_rate
kind: parameter
dtype: Rate
source: C.R.S. 39-29-115(1.5)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-29-115
          excerpt: a penalty of up to thirty percent of the required payment
versions:
  - effective_from: '0001-01-01'
    formula: '0.30'

failure_to_withhold_and_pay_minimum_penaltyCO 39 § 39-29-115 · parameter

C.R.S. 39-29-115(1.5)

name: failure_to_withhold_and_pay_minimum_penalty
kind: parameter
dtype: Money
unit: USD
source: C.R.S. 39-29-115(1.5)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-29-115
          excerpt: or thirty dollars, whichever is the greater amount
versions:
  - effective_from: '0001-01-01'
    formula: '30'

annual_withholding_report_maximum_penalty_rateCO 39 § 39-29-115 · parameter

C.R.S. 39-29-115(1.5)

name: annual_withholding_report_maximum_penalty_rate
kind: parameter
dtype: Rate
source: C.R.S. 39-29-115(1.5)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-29-115
          excerpt: a penalty of up to fifteen percent
versions:
  - effective_from: '0001-01-01'
    formula: '0.15'

annual_withholding_report_penalty_capCO 39 § 39-29-115 · parameter

C.R.S. 39-29-115(1.5)

name: annual_withholding_report_penalty_cap
kind: parameter
dtype: Money
unit: USD
source: C.R.S. 39-29-115(1.5)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-29-115
          excerpt: or one thousand five hundred dollars, whichever is the lesser amount
versions:
  - effective_from: '0001-01-01'
    formula: '1500'

negligent_error_penalty_rateCO 39 § 39-29-115 · parameter

C.R.S. 39-29-115(2)(a)

name: negligent_error_penalty_rate
kind: parameter
dtype: Rate
source: C.R.S. 39-29-115(2)(a)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-29-115
          excerpt: A penalty of ten percent of the tax assessed
versions:
  - effective_from: '0001-01-01'
    formula: '0.10'

negligent_error_penalty_interest_monthly_rateCO 39 § 39-29-115 · parameter

C.R.S. 39-29-115(2)(b)

name: negligent_error_penalty_interest_monthly_rate
kind: parameter
dtype: Rate
source: C.R.S. 39-29-115(2)(b)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-co/statute/39/39-29-115
          excerpt: one-half of one percent per month
versions:
  - effective_from: '0001-01-01'
    formula: '0.005'

estimate_response_deadline_daysCO 39 § 39-29-115 · parameter

C.R.S. 39-29-115(3)(a)

name: estimate_response_deadline_days
kind: parameter
dtype: Count
source: C.R.S. 39-29-115(3)(a)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us-co/statute/39/39-29-115
          excerpt: within ten days after receiving the estimate
versions:
  - effective_from: '0001-01-01'
    formula: '10'

failure_to_file_or_pay_penaltyCO 39 § 39-29-115 · derived

C.R.S. 39-29-115(1)

name: failure_to_file_or_pay_penalty
kind: derived
entity: Person
dtype: Money
period: Year
unit: USD
source: C.R.S. 39-29-115(1)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us-co/statute/39/39-29-115
          excerpt: >-
            fails to file a report or to pay the tax due thereon shall pay a
            penalty of thirty percent of the tax assessed or thirty dollars,
            whichever is greater
versions:
  - effective_from: '0001-01-01'
    formula: |-
      if person_failed_to_file_report_or_pay_tax:
        max(failure_to_file_or_pay_penalty_rate * tax_assessed_for_unfiled_or_unpaid_tax, failure_to_file_or_pay_minimum_penalty)
      else: 0

annual_withholding_report_maximum_penaltyCO 39 § 39-29-115 · derived

C.R.S. 39-29-115(1.5)

name: annual_withholding_report_maximum_penalty
kind: derived
entity: Person
dtype: Money
period: Year
unit: USD
source: C.R.S. 39-29-115(1.5)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us-co/statute/39/39-29-115
          excerpt: >-
            fails to file the annual report ... shall pay a penalty of up to
            fifteen percent ... or one thousand five hundred dollars, whichever
            is the lesser amount
versions:
  - effective_from: '0001-01-01'
    formula: |-
      if person_withheld_income_and_failed_to_file_annual_withholding_report:
        min(annual_withholding_report_maximum_penalty_rate * withholding_that_should_have_been_reflected_in_annual_report, annual_withholding_report_penalty_cap)
      else: 0

negligent_error_penaltyCO 39 § 39-29-115 · derived

C.R.S. 39-29-115(2)(a)

name: negligent_error_penalty
kind: derived
entity: Person
dtype: Money
period: Year
unit: USD
source: C.R.S. 39-29-115(2)(a)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us-co/statute/39/39-29-115
          excerpt: >-
            Tax assessed ... due to negligence or disregard of the law shall
            have added thereto: A penalty of ten percent of the tax assessed
versions:
  - effective_from: '0001-01-01'
    formula: |-
      if tax_assessment_resulted_from_negligent_or_disregarded_law_error:
        negligent_error_penalty_rate * tax_assessed_from_negligent_error
      else: 0

negligent_error_penalty_interest_per_monthCO 39 § 39-29-115 · derived

C.R.S. 39-29-115(2)(b)

name: negligent_error_penalty_interest_per_month
kind: derived
entity: Person
dtype: Money
period: Month
unit: USD
source: C.R.S. 39-29-115(2)(b)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us-co/statute/39/39-29-115
          excerpt: >-
            Penalty interest of one-half of one percent per month ... on the tax
            assessed
versions:
  - effective_from: '0001-01-01'
    formula: |-
      if tax_assessment_resulted_from_negligent_or_disregarded_law_error:
        negligent_error_penalty_interest_monthly_rate * tax_assessed_from_negligent_error
      else: 0

estimated_assessment_may_be_issuedCO 39 § 39-29-115 · derived

C.R.S. 39-29-115(3)(a)-(b)

name: estimated_assessment_may_be_issued
kind: derived
entity: Person
dtype: Judgment
period: Year
source: C.R.S. 39-29-115(3)(a)-(b)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us-co/statute/39/39-29-115
          excerpt: >-
            if any person fails, neglects, or refuses to file a report required
            by this article, the executive director may ... estimate the amount
            of tax due
      - path: versions[0].formula
        kind: exception
        source:
          corpus_citation_path: us-co/statute/39/39-29-115
          excerpt: >-
            shall not send an estimate ... to a person who has less than two
            hundred fifty dollars withheld ... unless the executive director has
            good cause
      - path: versions[0].formula
        kind: import
        import:
          target: >-
            us-co:statutes/39/39-29-112#annual_return_withholding_exemption_limit
          output: annual_return_withholding_exemption_limit
          hash: >-
            sha256:23e0ab51dd98f84e37d5b4cefb425604177077020d82c1f2d0bff2d3cb559afa
versions:
  - effective_from: '0001-01-01'
    formula: |-
      person_failed_to_file_required_report
      and (
        total_withholding_by_all_unit_operators_or_first_purchasers >= annual_return_withholding_exemption_limit
        or executive_director_has_good_cause_to_believe_person_does_not_qualify_for_annual_return_exception
      )

penalty_waiver_may_be_grantedCO 39 § 39-29-115 · derived

C.R.S. 39-29-115(4)

name: penalty_waiver_may_be_granted
kind: derived
entity: Person
dtype: Judgment
period: Year
source: C.R.S. 39-29-115(4)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us-co/statute/39/39-29-115
          excerpt: >-
            The executive director may waive, for good cause shown, any of the
            penalties authorized by this section.
versions:
  - effective_from: '0001-01-01'
    formula: good_cause_shown_for_penalty_waiver

▸rulespec code

Shown source

statutes/39/39-29-115.yaml

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View on GitHub

Rules

failure_to_file_or_pay_penalty_rate

Parameter

source: C.R.S. 39-29-115(1)

- name: failure_to_file_or_pay_penalty_rate
  kind: parameter
  dtype: Rate
  source: C.R.S. 39-29-115(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-29-115
            excerpt: a penalty of thirty percent of the tax assessed
  versions:
    - effective_from: '0001-01-01'
      formula: '0.30'

failure_to_file_or_pay_minimum_penalty

Parameter

source: C.R.S. 39-29-115(1)

- name: failure_to_file_or_pay_minimum_penalty
  kind: parameter
  dtype: Money
  unit: USD
  source: C.R.S. 39-29-115(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-29-115
            excerpt: or thirty dollars, whichever is greater
  versions:
    - effective_from: '0001-01-01'
      formula: '30'

failure_to_withhold_and_pay_maximum_penalty_rate

Parameter

source: C.R.S. 39-29-115(1.5)

- name: failure_to_withhold_and_pay_maximum_penalty_rate
  kind: parameter
  dtype: Rate
  source: C.R.S. 39-29-115(1.5)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-29-115
            excerpt: a penalty of up to thirty percent of the required payment
  versions:
    - effective_from: '0001-01-01'
      formula: '0.30'

failure_to_withhold_and_pay_minimum_penalty

Parameter

source: C.R.S. 39-29-115(1.5)

- name: failure_to_withhold_and_pay_minimum_penalty
  kind: parameter
  dtype: Money
  unit: USD
  source: C.R.S. 39-29-115(1.5)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-29-115
            excerpt: or thirty dollars, whichever is the greater amount
  versions:
    - effective_from: '0001-01-01'
      formula: '30'

annual_withholding_report_maximum_penalty_rate

Parameter

source: C.R.S. 39-29-115(1.5)

- name: annual_withholding_report_maximum_penalty_rate
  kind: parameter
  dtype: Rate
  source: C.R.S. 39-29-115(1.5)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-29-115
            excerpt: a penalty of up to fifteen percent
  versions:
    - effective_from: '0001-01-01'
      formula: '0.15'

annual_withholding_report_penalty_cap

Parameter

source: C.R.S. 39-29-115(1.5)

- name: annual_withholding_report_penalty_cap
  kind: parameter
  dtype: Money
  unit: USD
  source: C.R.S. 39-29-115(1.5)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-29-115
            excerpt: or one thousand five hundred dollars, whichever is the lesser amount
  versions:
    - effective_from: '0001-01-01'
      formula: '1500'

negligent_error_penalty_rate

Parameter

source: C.R.S. 39-29-115(2)(a)

- name: negligent_error_penalty_rate
  kind: parameter
  dtype: Rate
  source: C.R.S. 39-29-115(2)(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-29-115
            excerpt: A penalty of ten percent of the tax assessed
  versions:
    - effective_from: '0001-01-01'
      formula: '0.10'

negligent_error_penalty_interest_monthly_rate

Parameter

source: C.R.S. 39-29-115(2)(b)

- name: negligent_error_penalty_interest_monthly_rate
  kind: parameter
  dtype: Rate
  source: C.R.S. 39-29-115(2)(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-co/statute/39/39-29-115
            excerpt: one-half of one percent per month
  versions:
    - effective_from: '0001-01-01'
      formula: '0.005'

estimate_response_deadline_days

Parameter

source: C.R.S. 39-29-115(3)(a)

- name: estimate_response_deadline_days
  kind: parameter
  dtype: Count
  source: C.R.S. 39-29-115(3)(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-co/statute/39/39-29-115
            excerpt: within ten days after receiving the estimate
  versions:
    - effective_from: '0001-01-01'
      formula: '10'

failure_to_file_or_pay_penalty

Derived

source: C.R.S. 39-29-115(1)

- name: failure_to_file_or_pay_penalty
  kind: derived
  entity: Person
  dtype: Money
  period: Year
  unit: USD
  source: C.R.S. 39-29-115(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-co/statute/39/39-29-115
            excerpt: >-
              fails to file a report or to pay the tax due thereon shall pay a penalty of thirty
              percent of the tax assessed or thirty dollars, whichever is greater
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        if person_failed_to_file_report_or_pay_tax:
          max(failure_to_file_or_pay_penalty_rate * tax_assessed_for_unfiled_or_unpaid_tax, failure_to_file_or_pay_minimum_penalty)
        else: 0

annual_withholding_report_maximum_penalty

Derived

source: C.R.S. 39-29-115(1.5)

- name: annual_withholding_report_maximum_penalty
  kind: derived
  entity: Person
  dtype: Money
  period: Year
  unit: USD
  source: C.R.S. 39-29-115(1.5)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-co/statute/39/39-29-115
            excerpt: >-
              fails to file the annual report ... shall pay a penalty of up to fifteen percent ...
              or one thousand five hundred dollars, whichever is the lesser amount
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        if person_withheld_income_and_failed_to_file_annual_withholding_report:
          min(annual_withholding_report_maximum_penalty_rate * withholding_that_should_have_been_reflected_in_annual_report, annual_withholding_report_penalty_cap)
        else: 0

negligent_error_penalty

Derived

source: C.R.S. 39-29-115(2)(a)

- name: negligent_error_penalty
  kind: derived
  entity: Person
  dtype: Money
  period: Year
  unit: USD
  source: C.R.S. 39-29-115(2)(a)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-co/statute/39/39-29-115
            excerpt: >-
              Tax assessed ... due to negligence or disregard of the law shall have added thereto: A
              penalty of ten percent of the tax assessed
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        if tax_assessment_resulted_from_negligent_or_disregarded_law_error:
          negligent_error_penalty_rate * tax_assessed_from_negligent_error
        else: 0

negligent_error_penalty_interest_per_month

Derived

source: C.R.S. 39-29-115(2)(b)

- name: negligent_error_penalty_interest_per_month
  kind: derived
  entity: Person
  dtype: Money
  period: Month
  unit: USD
  source: C.R.S. 39-29-115(2)(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-co/statute/39/39-29-115
            excerpt: Penalty interest of one-half of one percent per month ... on the tax assessed
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        if tax_assessment_resulted_from_negligent_or_disregarded_law_error:
          negligent_error_penalty_interest_monthly_rate * tax_assessed_from_negligent_error
        else: 0

estimated_assessment_may_be_issued

Derived

source: C.R.S. 39-29-115(3)(a)-(b)

- name: estimated_assessment_may_be_issued
  kind: derived
  entity: Person
  dtype: Judgment
  period: Year
  source: C.R.S. 39-29-115(3)(a)-(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-co/statute/39/39-29-115
            excerpt: >-
              if any person fails, neglects, or refuses to file a report required by this article,
              the executive director may ... estimate the amount of tax due
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us-co/statute/39/39-29-115
            excerpt: >-
              shall not send an estimate ... to a person who has less than two hundred fifty dollars
              withheld ... unless the executive director has good cause
        - path: versions[0].formula
          kind: import
          import:
            target: us-co:statutes/39/39-29-112#annual_return_withholding_exemption_limit
            output: annual_return_withholding_exemption_limit
            hash: sha256:23e0ab51dd98f84e37d5b4cefb425604177077020d82c1f2d0bff2d3cb559afa
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        person_failed_to_file_required_report
        and (
          total_withholding_by_all_unit_operators_or_first_purchasers >= annual_return_withholding_exemption_limit
          or executive_director_has_good_cause_to_believe_person_does_not_qualify_for_annual_return_exception
        )

penalty_waiver_may_be_granted

Derived

source: C.R.S. 39-29-115(4)

- name: penalty_waiver_may_be_granted
  kind: derived
  entity: Person
  dtype: Judgment
  period: Year
  source: C.R.S. 39-29-115(4)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-co/statute/39/39-29-115
            excerpt: >-
              The executive director may waive, for good cause shown, any of the penalties
              authorized by this section.
  versions:
    - effective_from: '0001-01-01'
      formula: good_cause_shown_for_penalty_waiver

▸citations (8)

References

This rule cites 8 other rules.

CO 39 § 39-21-110.5inferredCO › Statutes › Title 39 › § 39-21-110.5
CO 39 § 39-29-111inferredCO › Statutes › Title 39 › § 39-29-111
CO 39 § 39-21-110.5inferredCO › Statutes › Title 39 › § 39-21-110.5
CO 39 § 39-29-111inferredCO › Statutes › Title 39 › § 39-29-111
CO 39 § 39-29-105 (1)(b)inferredCO › Statutes › Title 39 › § 39-29-105 › (1)(b)
CO 39 § 39-21-110.5inferredCO › Statutes › Title 39 › § 39-21-110.5
CO 39 § 39-29-111 (1)inferredCO › Statutes › Title 39 › § 39-29-111 › (1)
CO 39 § 39-29-112 (7)inferredCO › Statutes › Title 39 › § 39-29-112 › (7)