Colorado Revised Statutes Title 39 — Taxation
C.R.S. § 39-22-658
Material advisor - penalties
# (1)
The penalty for the failure of a material advisor to disclose a reportable or listed transaction as required by section 39-22-656 (1)(a) shall be up to twenty thousand dollars.
# (2)
If a material advisor that is required to disclose a reportable or listed transaction in accordance with section 39-22-656 (1)(a) provides false or incomplete information to the department, then an additional penalty shall be imposed of up to twenty thousand dollars.
# (3)
If a material advisor that is required to maintain a list under section 39-22-657 (1) fails to make that list available to the department within a twenty-day period after the day on which the department mails a written request for that list, the material advisor shall be subject to a penalty of ten thousand dollars for each day that the material advisor fails to make that list available to the department after the expiration of the twenty-day period.
# (4)
A penalty imposed by this section shall be in addition to any other penalty imposed by articles 21 and 22 of this title. Source: L. 2009: Entire section added, (HB 09-1093), ch. 75, p. 275, § 4, effective April 2.
Amendment history
L. 2009: Entire section added, (HB 09-1093), ch. 75, p. 275, § 4, effective April 2.
Source: view the official text
In this article (40 sections)
- 39-22-609 · Payment of tax - applicable when
- 39-22-610 · Relief for members of the armed forces of the United States…
- 39-22-611 · Property exempt from ad valorem taxes
- 39-22-621 · Interest and penalties
- 39-22-622 · Refunds
- 39-22-623 · Disposition of collections - definition
- 39-22-624 · Prior rights and liabilities not affected
- 39-22-625 · Application of article - effective date
- 39-22-626 · Applicability of amendments to this article to income tax…
- 39-22-627 · Temporary adjustment of rate of income tax - refund of…
- 39-22-628 · Direct deposit of refund to collegeinvest savings accounts…
- 39-22-629 · Advance payments of income tax credits - definitions
- 39-22-630 · Charitable contributions made through qualified…
- 39-22-651 · Short title - citation
- 39-22-652 · Definitions
- 39-22-653 · Taxpayer disclosure of reportable or listed transactions
- 39-22-654 · Additional listed transactions - report
- 39-22-655 · Penalty for failure to disclose a reportable or listed…
- 39-22-656 · Material advisor - disclosure of reportable or listed…
- 39-22-657 · Material advisor - maintenance of list
- 39-22-658 · Material advisor - penalties
- 39-22-659 · Waiver, reduction, or compromise of penalty for reasonable…
- 39-22-701 · Legislative declaration
- 39-22-702 · Voluntary contribution designation - procedure
- 39-22-703 · Contributions credited to Colorado nongame conservation and…
- 39-22-704 · Repeal of part
- 39-22-801 · Voluntary contribution designation - procedure
- 39-22-802 · Contributions credited to Colorado domestic abuse program…
- 39-22-803 · Repeal of part
- 39-22-1001 · Limitations on voluntary contribution programs - queue -…
- 39-22-1301 · Voluntary contribution designation - procedure
- 39-22-1302 · Contributions credited to homeless prevention activities…
- 39-22-1801 · Legislative declaration
- 39-22-1802 · Voluntary contribution designation - procedure - effective…
- 39-22-1803 · Contributions credited to the Special Olympics Colorado…
- 39-22-1804 · Repeal of part
- 39-22-1901 · Legislative declaration
- 39-22-1902 · Voluntary contribution designation - procedure
- 39-22-1903 · Contributions credited to the fund - appropriation
- 39-22-2001 · Legislative declaration - revenues exceeding TABOR limit -…