Colorado § 39-22-323 - Modification and characterization of income.
Full text of Colorado Colorado Revised Statutes § 39-22-323 — Modification and characterization of income., with citation guidance and answers to common questions.
§ 39-22-323. Modification and characterization of income.
(1) An S corporation's income attributable to the state shall, for the purposes of section 39-22-322, be subject to the modifications provided in section 39-22-304.
(2) Each resident shareholder's pro rata share of the S corporation's income not attributable to the state shall, for the purposes of section 39-22-322 (2), be subject to the modifications provided in section 39-22-104.
(3) The character of any S corporation item taken into account by a shareholder of an S corporation pursuant to section 39-22-322 (2) shall be determined as if such item were received or incurred by the S corporation and not its shareholder.
Source: L. 92: Entire section added, p. 2261, § 1, effective April 16.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 39-22-323
What does Colorado Revised Statutes § 39-22-323 cover?
Section 39-22-323 ("Modification and characterization of income.") 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 § 39-22-323?
A common citation format is "Colorado Revised Statutes § 39-22-323" (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 § 39-22-323 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.