C.R.S. § 39-22-112 — Persons and organizations exempt from tax under this article

(1) A person or organization exempt from federal income taxation under the provisions of the internal revenue code shall also be exempt from the tax imposed by this article 22 in each year in which such person or organization satisfies the requirements of the internal revenue code for exemption from federal income taxation; except that insurance companies subject to the tax imposed on gross premiums by section 10-3-209 shall also be exempt from the tax imposed by this article 22. Disqualified insurance companies, as defined in section 10-1-102 (6.5), shall not be exempt from the tax imposed by this article 22. If the exemption applicable to any person or organization under the provisions of the internal revenue code is limited or qualified in any manner, the exemption from taxes imposed by this article 22 shall be limited or qualified in a similar manner. (2) Notwithstanding the provisions of subsection (1) of this section to the contrary, the unrelated business taxable income, as computed under the provisions of the internal revenue code, of any person or organization otherwise exempt from the tax imposed by this article and subject to the tax imposed on unrelated business income by the internal revenue code shall be subject to the tax which would have been imposed by this article but for the provisions of subsection (1) of this section. Source: L. 87: Entire part R&RE, p. 1433, § 2, effective June 22. L. 2021: (1) amended, (HB 21-1311), ch. 298, p. 1785, § 10, effective June 23. Editor's note: This section is similar to former § 39-22-111 as it existed prior to 1987. Cross references: For the legislative declaration in HB 21-12311, see section 1 of chapter 298, Session Laws of Colorado 2021. 39-22-113. Tax credit or refund for persons with disabilities who are employed - amount - applicability. (Repealed) Source: L. 87: Entire part R&RE, p. 1433, § 2, effective June 22. L. 93: (1), (2), (3)(a), and (3)(b)(I) amended, p. 1670, § 88, effective July 1. L. 2004: Entire section repealed, p. 207, § 32, effective August 4. Editor's note: Before its repeal, this section was similar to former § 39-22-126 as it existed prior to 1987. 39-22-114. Residential energy credit. (Repealed) Source: L. 87: Entire part R&RE, p. 1434, § 2, effective June 22. L. 2002: (5)(c) amended, p. 1557, § 349, effective October 1. L. 2004: Entire section repealed, p. 208, § 33, effective August 4. Editor's note: Before its repeal, this section was similar to former § 39-22-127 as it existed prior to 1987.