Colorado § 39-21-116.5 - Penalties - repeal.
Full text of Colorado Colorado Revised Statutes § 39-21-116.5 — Penalties - repeal., with citation guidance and answers to common questions.
§ 39-21-116.5. Penalties - repeal.
(1) In addition to the personal liability provided in section 39-21-116, all officers of a corporation and all members of a partnership or a limited liability company required to collect, account for, and pay over any tax administered by this article 21 who willfully fail to collect, account for, or pay over such tax or who willfully attempt in any manner to evade or defeat any such tax, or the payment thereof, are subject to, in addition to other penalties provided by law, a penalty equal to one hundred fifty percent of the total amount of the tax not collected, accounted for, paid over, or otherwise evaded. An officer of a corporation or a member of a partnership or a limited liability company shall be deemed to be subject to this section if the corporation, partnership, or limited liability company is subject to filing returns or paying taxes administered by this article 21 and if such officers of corporations or members of partnerships or limited liability companies voluntarily or at the direction of their superiors assume the duties or responsibilities of complying with the provisions of any tax administered by this article 21 on behalf of the corporation, partnership, or limited liability company.
(2) (a) This section does not apply to the temporary sales tax deduction and retention allowed in section 39-26-105 (1.3).
(b) This subsection (2) is repealed, effective December 31, 2026.
Source: L. 77: Entire section amended, p. 1777, § 2, effective July 1. L. 85: Entire section amended, p. 1253, § 3, effective January 1, 1986. L. 90: Entire section amended, p. 452, § 31, effective April 18. L. 2020, 1st Ex. Sess.: Entire section amended, (HB 20B-1004), ch. 3, p. 25, § 6, effective December 7.
Cross references: For the legislative declaration in HB 20B-1004, see section 1 of chapter 3, Session Laws of Colorado 2020, First Extraordinary Session.
ANNOTATION
Title of corporate president does not necessarily include the responsibility of tax compliance. This section is applicable only to those corporate officers responsible for tax compliance who willfully fail to collect, account for, or pay taxes. Hanson v. Colo. Dept. of Rev., 140 P.3d 256 (Colo. App. 2006).
Frequently Asked Questions About Colorado § 39-21-116.5
What does Colorado Revised Statutes § 39-21-116.5 cover?
Section 39-21-116.5 ("Penalties - repeal.") 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 § 39-21-116.5?
A common citation format is "Colorado Revised Statutes § 39-21-116.5" (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?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 39-21-116.5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.