Colorado Revised Statutes Title 39 — Taxation
C.R.S. § 39-22-305
Consolidated returns
# (1)
An affiliated group of C corporations, as defined in section 1504 of the internal revenue code, may elect to make a consolidated return with respect to the corporate income tax imposed by section 39-22-301 (1) for the taxable year in lieu of separate returns. The making of a consolidated return shall be upon the condition that all C corporations which at any time during the taxable year have been members of the affiliated group consent to be included in such return. The making of a consolidated return shall be considered as such consent. Such election may not be revoked in less than four years unless approved by the executive director.
# (2)
The executive director shall prescribe such regulations as the executive director may deem necessary in order that the tax liability of any affiliated group of C corporations making a consolidated return and of each C corporation in the group, both during and after the period of affiliation, may be returned, determined, computed, assessed, collected, and adjusted, in such manner as clearly to reflect the income tax liability and the various factors necessary for the determination of such liability and as the executive director may deem necessary in order to prevent avoidance of the tax liability. Source: L. 64: R&RE, p. 771, § 1. C.R.S. 1963: § 138-1-39. L. 77: Entire section R&RE, p. 1797, § 1, effective May 18. L. 87: (1) amended, p. 1443, § 10, effective June 22. L. 92: Entire section amended, p. 2272, § 10, effective April 16.
Amendment history
L. 64: R&RE, p. 771, § 1. C.R.S. 1963: § 138-1-39. L. 77: Entire section R&RE, p. 1797, § 1, effective May 18. L. 87: (1) amended, p. 1443, § 10, effective June 22. L. 92: Entire section amended, p. 2272, § 10, effective April 16.
Source: view the official text
In this article (40 sections)
- 39-22-123 · Earned income tax credit - refund of state excess revenues…
- 39-22-123.5 · Earned income tax credit - legislative declaration -…
- 39-22-123.7 · Earned income tax credit - pilot program - pre-populated…
- 39-22-129 · Child tax credit - legislative declaration - definitions -…
- 39-22-130 · Family affordability tax credit - tax preference…
- 39-22-201 · Partners, not partnership, subject to tax
- 39-22-202 · Resident partners - definition
- 39-22-203 · Nonresident partners
- 39-22-204 · Accounting periods and methods
- 39-22-206 · Foreign source income of export taxpayers
- 39-22-300.1 · Short title - citation
- 39-22-301 · Corporate tax imposed - repeal
- 39-22-302 · S corporations
- 39-22-303 · Dividends in a combined report - foreign source income -…
- 39-22-303.1 · Interstate banking or branching - nondiscriminatory tax…
- 39-22-303.5 · Single-factor apportionment of business income -…
- 39-22-303.6 · Market-based apportionment of the income of a taxpayer…
- 39-22-303.7 · Sourcing of sales of mutual fund service corporations -…
- 39-22-303.9 · Apportionment of the income of a taxpayer with enterprise…
- 39-22-304 · Net income of corporation - legislative declaration -…
- 39-22-305 · Consolidated returns
- 39-22-306 · Accounting periods and methods
- 39-22-308 · Credit allowed for purchase of Colorado coal
- 39-22-310 · Legislative declaration - statutory interpretation and…
- 39-22-320 · Short title - citation
- 39-22-321 · Definitions
- 39-22-322 · Taxation of an S corporation and its shareholders
- 39-22-323 · Modification and characterization of income
- 39-22-324 · Basis and adjustments
- 39-22-325 · Carryforwards and carrybacks - loss limitation
- 39-22-326 · Part-year residence
- 39-22-327 · Distributions
- 39-22-329 · Tax credits
- 39-22-330 · Uniformity of application and construction
- 39-22-340 · Short title - citation
- 39-22-341 · Legislative declaration
- 39-22-342 · Definitions
- 39-22-343 · Election
- 39-22-344 · Imposition of tax
- 39-22-345 · Owner exclusion