Colorado § 39-22-305 - Consolidated returns.
Full text of Colorado Colorado Revised Statutes § 39-22-305 — Consolidated returns., with citation guidance and answers to common questions.
§ 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.
ANNOTATION
A combined-consolidated filing is permissible. An affiliated group that is required to file a combined return may also elect to file a consolidated return. This type of return was clearly allowed under the published statutes and the related department regulations. Cendant Corp. & Subs. v. Dept. of Rev., 226 P.3d 1102 (Colo. App. 2009).
Frequently Asked Questions About Colorado § 39-22-305
What does Colorado Revised Statutes § 39-22-305 cover?
Section 39-22-305 ("Consolidated returns.") 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 § 39-22-305?
A common citation format is "Colorado Revised Statutes § 39-22-305" (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 § 39-22-305 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.