Colorado § 39-22-342 - Definitions.
Full text of Colorado Colorado Revised Statutes § 39-22-342 — Definitions., with citation guidance and answers to common questions.
§ 39-22-342. Definitions.
As used in this subpart 3, unless the context otherwise requires:
(1) "Electing pass-through entity" means, with respect to a taxable period, an S corporation or partnership that has made the election under section 39-22-343 with respect to the taxable period.
(2) "Electing pass-through entity owner" means, with respect to an S corporation, a shareholder of the S corporation and, with respect to a partnership, a partner in the partnership; except that a partner does not include a C corporation that is unitary with the partnership.
(3) "Income attributable to the state" means, with respect to an S corporation, the portion of the items of income, gain, loss, or deduction of the S corporation apportioned or allocated to this state in accordance with the provisions of section 39-22-321 (1) and (2), and, with respect to a partnership, the portion of the income, gain, loss, deduction, or credit of the partnership derived from sources within Colorado determined in accordance with the provisions of section 39-22-203.
(4) "Income not attributable to the state" means all items of income, gain, loss, or deduction of an electing pass-through entity other than income attributable to the state.
(5) "Resident electing pass-through entity owner" means an electing pass-through entity owner that is a resident of Colorado as defined in section 39-22-103 (6), (7), (8), (9), and (10).
(6) "Taxable period" means any taxable year or portion of a taxable year during which a corporation is an S corporation or a noncorporate entity is a partnership.
Source: L. 2021: Entire subpart added, (HB 21-1327), ch. 300, p. 1801, § 1, effective June 23.
Frequently Asked Questions About Colorado § 39-22-342
What does Colorado Revised Statutes § 39-22-342 cover?
Section 39-22-342 ("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 § 39-22-342?
A common citation format is "Colorado Revised Statutes § 39-22-342" (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 § 39-22-342 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.