Colorado § 24-36-502 - Definitions.
Full text of Colorado Colorado Revised Statutes § 24-36-502 — Definitions., with citation guidance and answers to common questions.
§ 24-36-502. Definitions.
As used in this part 5, unless the context otherwise requires:
(1) "C corporation" has the same meaning as in section 39-22-103 (2.5).
(2) "Department" means the department of the treasury.
(3) "Income tax liability" means the liability imposed by section 39-22-301.
(4) "Qualified taxpayer" means a C corporation authorized to do business in Colorado that has or will have an income tax liability owing to the state. "Qualified taxpayer" also includes a C corporation that receives or assumes a tax credit transferred in accordance with section 24-36-503 (7)(e).
(5) "Tax credit" means the tax credit created in section 24-36-503.
(6) "Tax credit sale proceeds" or "sale proceeds" means the money or other liquid asset acceptable to the state treasurer that a qualified taxpayer pays to the department that is deposited as specified in section 24-36-406.
Source: L. 2025, 1st Ex. Sess.: Entire part added, (HB 25B-1004), ch. 8, p. 32, § 2, effective August 28; (6) amended, (HB 25B-1006), ch. 10, p. 50, § 11, effective August 29. L. 2026: (4) amended, (SB 26-169), ch. 311, p. 1805, § 29, effective August 12.
Editor's note: Section 17(2) of chapter 10 (HB 25B-1006), Session Laws of Colorado 2025, First Extraordinary Session, provides that the act changing subsection (6) takes effect only if HB 25B-1004 becomes law and takes effect one day after the effective date of HB 25B-1004. HB 25B-1004 became law and took effect August 28, 2025.
Frequently Asked Questions About Colorado § 24-36-502
What does Colorado Revised Statutes § 24-36-502 cover?
Section 24-36-502 ("Definitions.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 24-36-502?
A common citation format is "Colorado Revised Statutes § 24-36-502" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
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Sources & Verification
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