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us-co/statute/39/39-3-111 — Property - used by fraternal or veterans' organization - charitable purposes - exemption - limitations · Axiom

Property - used by fraternal or veterans' organization - charitable purposes - exemption - limitations

1 rule

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Property, real and personal, which is owned and used solely and exclusively for strictly charitable purposes and not for private gain or corporate profit, shall be exempt from the levy and collection of property tax if such property is used by any fraternal organization, as defined in section 24-21-602 (18), notwithstanding the requirement that such organization be in existence for a period of five years, or by any veterans' organization, as defined in section 24-21-602 (43), notwithstanding the requirement that such organization be in existence for a period of five years, and the net income derived from the use of such property is irrevocably dedicated to any of the purposes specified in sections 39-3-106 to 39-3-110, 39-3-112, or 39-3-113 and to the purpose of maintaining and operating such organization. As used in this section, the term net income means all items of revenue and gain minus all items of loss and expense, including amounts reasonably anticipated for future needs, as determined according to the usual method of accounting for such organization. No requirement shall be imposed that use of property which is otherwise exempt pursuant to this section shall benefit the people of Colorado in order to qualify for said exemption. Any exemption claimed pursuant to the provisions of this section shall comply with the provisions of section 39-2-117.

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Encodings · 1

fraternal_or_veterans_charitable_property_tax_exemption_appliesCO 39 § 39-3-111 · derived

Colo. Rev. Stat. § 39-3-111

name: fraternal_or_veterans_charitable_property_tax_exemption_applies
kind: derived
entity: Asset
dtype: Judgment
period: Year
source: Colo. Rev. Stat. § 39-3-111
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us-co/statute/39/39-3-111
          excerpt: >-
            owned and used solely and exclusively for strictly charitable
            purposes and not for private gain or corporate profit
      - path: versions[0].formula
        kind: predicate
        source:
          corpus_citation_path: us-co/statute/39/39-3-111
          excerpt: >-
            used by any fraternal organization ... or by any veterans'
            organization
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us-co/statute/39/39-3-111
          excerpt: >-
            net income derived from the use of such property is irrevocably
            dedicated
versions:
  - effective_from: '0001-01-01'
    formula: >-
      property_is_owned

      and
      property_is_used_solely_and_exclusively_for_strictly_charitable_purposes

      and not property_is_used_for_private_gain_or_corporate_profit

      and (property_is_used_by_fraternal_organization or
      property_is_used_by_veterans_organization)

      and
      net_income_is_irrevocably_dedicated_to_specified_purposes_and_organization_maintenance

▸rulespec code

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statutes/39/39-3-111.yaml

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Rules

fraternal_or_veterans_charitable_property_tax_exemption_applies

Derived

source: Colo. Rev. Stat. § 39-3-111

- name: fraternal_or_veterans_charitable_property_tax_exemption_applies
  kind: derived
  entity: Asset
  dtype: Judgment
  period: Year
  source: Colo. Rev. Stat. § 39-3-111
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-co/statute/39/39-3-111
            excerpt: >-
              owned and used solely and exclusively for strictly charitable purposes and not for
              private gain or corporate profit
        - path: versions[0].formula
          kind: predicate
          source:
            corpus_citation_path: us-co/statute/39/39-3-111
            excerpt: used by any fraternal organization ... or by any veterans' organization
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-co/statute/39/39-3-111
            excerpt: net income derived from the use of such property is irrevocably dedicated
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        property_is_owned

        and property_is_used_solely_and_exclusively_for_strictly_charitable_purposes

        and not property_is_used_for_private_gain_or_corporate_profit

        and (property_is_used_by_fraternal_organization or
        property_is_used_by_veterans_organization)

        and net_income_is_irrevocably_dedicated_to_specified_purposes_and_organization_maintenance

▸citations (4)

References

This rule cites 4 other rules.

CO 39 § 24-21-602 (18)inferredCO › Statutes › Title 39 › § 24-21-602 › (18)
CO 39 § 24-21-602 (43)inferredCO › Statutes › Title 39 › § 24-21-602 › (43)
CO 39 § 39-3-106inferredCO › Statutes › Title 39 › § 39-3-106
CO 39 § 39-2-117inferredCO › Statutes › Title 39 › § 39-2-117