Colorado § 39-29-114 - Component members of a controlled group treated as one taxpayer.
Full text of Colorado Colorado Revised Statutes § 39-29-114 — Component members of a controlled group treated as one taxpayer., with citation guidance and answers to common questions.
§ 39-29-114. Component members of a controlled group treated as one taxpayer.
(1) For the purposes of this article, persons who are members of the same controlled group of corporations shall be treated as one taxpayer.
(2) If fifty percent or more of the beneficial interest in two or more corporations, trusts, or estates is owned by the same or related persons (taking into account only persons who own at least five percent of such beneficial interest), the exemptions allowed under this article shall be allocated among all such entities in proportion to their respective quantities of production from the property of such entities.
(3) In the case of individuals who are members of the same family, the exemptions allowed under this article shall be allocated among such individuals in proportion to their respective quantities of production from the property of such individuals. For the purposes of this article, the family of an individual shall be deemed to include only his spouse and children.
(4) For the purposes of this section, the term "controlled group of corporations" has the meaning given to such term by the "Internal Revenue Code of 1986", in section 613A, as of January 1, 1987. The change of the reference in this section from the "Internal Revenue Code of 1954" to the "Internal Revenue Code of 1986" shall not affect any act done or any right accrued or accruing before or after such change, but all rights and liabilities shall continue and may be enforced in the same manner as if such references had not been changed.
Source: L. 77: Entire article added, p. 1851, § 1, effective January 1, 1978. L. 88: (4) amended, p. 1327, § 6, effective April 6.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 39-29-114
What does Colorado Revised Statutes § 39-29-114 cover?
Section 39-29-114 ("Component members of a controlled group treated as one taxpayer.") 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 § 39-29-114?
A common citation format is "Colorado Revised Statutes § 39-29-114" (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 § 39-29-114 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.