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Colorado Revised Statutes Title 39 — Taxation

C.R.S. § 39-22-322

Taxation of an S corporation and its shareholders

Official textolls.infolast amended

# (1)

An S corporation shall not be subject to the tax imposed by this article.

# (2)

For the purposes of section 39-22-104, each shareholder's pro rata share of the S corporation's income attributable to the state and each resident shareholder's pro rata share of the S corporation's income not attributable to the state, all as modified pursuant to section 39-22-323, shall be taken into account by the shareholder in the manner provided in section 1366 of the internal revenue code.

# (3)

For the purposes of determining the amounts taken into account by the shareholders of an S corporation pursuant to subsection (2) of this section, the amount of any tax imposed on the S corporation under the internal revenue code shall proportionately reduce the S corporation's income attributable to the state and income not attributable to the state. Source: L. 92: Entire section added, p. 2261, § 1, effective April 16. L. 2018: (2) amended, (HB 18-1375), ch. 274, p. 1722, § 80, effective May 29.

Amendment history

L. 92: Entire section added, p. 2261, § 1, effective April 16. L. 2018: (2) amended, (HB 18-1375), ch. 274, p. 1722, § 80, effective May 29.

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In this article (40 sections)
  1. 39-22-202 · Resident partners - definition
  2. 39-22-203 · Nonresident partners
  3. 39-22-204 · Accounting periods and methods
  4. 39-22-206 · Foreign source income of export taxpayers
  5. 39-22-300.1 · Short title - citation
  6. 39-22-301 · Corporate tax imposed - repeal
  7. 39-22-302 · S corporations
  8. 39-22-303 · Dividends in a combined report - foreign source income -…
  9. 39-22-303.1 · Interstate banking or branching - nondiscriminatory tax…
  10. 39-22-303.5 · Single-factor apportionment of business income -…
  11. 39-22-303.6 · Market-based apportionment of the income of a taxpayer…
  12. 39-22-303.7 · Sourcing of sales of mutual fund service corporations -…
  13. 39-22-303.9 · Apportionment of the income of a taxpayer with enterprise…
  14. 39-22-304 · Net income of corporation - legislative declaration -…
  15. 39-22-305 · Consolidated returns
  16. 39-22-306 · Accounting periods and methods
  17. 39-22-308 · Credit allowed for purchase of Colorado coal
  18. 39-22-310 · Legislative declaration - statutory interpretation and…
  19. 39-22-320 · Short title - citation
  20. 39-22-321 · Definitions
  21. 39-22-322 · Taxation of an S corporation and its shareholders
  22. 39-22-323 · Modification and characterization of income
  23. 39-22-324 · Basis and adjustments
  24. 39-22-325 · Carryforwards and carrybacks - loss limitation
  25. 39-22-326 · Part-year residence
  26. 39-22-327 · Distributions
  27. 39-22-329 · Tax credits
  28. 39-22-330 · Uniformity of application and construction
  29. 39-22-340 · Short title - citation
  30. 39-22-341 · Legislative declaration
  31. 39-22-342 · Definitions
  32. 39-22-343 · Election
  33. 39-22-344 · Imposition of tax
  34. 39-22-345 · Owner exclusion
  35. 39-22-346 · Credit for tax paid in other states
  36. 39-22-347 · Credit for electing pass-through entity owner - tax…
  37. 39-22-401 · Income of a resident estate or trust for purposes of…
  38. 39-22-402 · Share of a resident estate, trust, or beneficiary in…
  39. 39-22-403 · Income of a nonresident estate or trust subject to income…
  40. 39-22-404 · Share of a nonresident estate, trust, or beneficiary in…
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