Colorado § 44-30-604 - Returns and reports - failure to file - penalties.

§ 44-30-604. Returns and reports - failure to file - penalties.

(1) (a) Any person who fails to file a return or report required by this article 30, which return or report includes taxable transactions, on or before the date the return or report is due as prescribed in section 44-30-602 is subject to the payment of an additional amount assessed as a penalty equal to fifteen percent of the tax or ten dollars, whichever is greater; except that, for good cause shown, the executive director may reduce or eliminate the penalty.

(b) Any person subject to taxation under this article 30 who fails to pay the tax within the time prescribed is subject to an interest charge of two percent per month or portion thereof for the period of time during which the payment is late or five dollars, whichever is greater.

(c) (I) Penalty and interest are considered the same as a tax for the purposes of collection and enforcement, including liens, distraint warrants, and criminal violations.

(II) Any payment received for taxes, penalties, or interest is applied first to the tax, beginning with the oldest delinquency, then to interest and then to penalty.

(d) The executive director may, upon application of the taxpayer, establish a maximum interest rate of twenty-four percent upon delinquent taxes if the executive director determines that the delinquent payment was caused by a mistake of law and was not caused by an intent to evade the tax.

(2) The procedures for collection of any taxes and penalties due under this article 30 and the authority of the department to collect the taxes and penalties shall be the same as those provided for the collection of sales taxes pursuant to articles 20, 21, and 26 of title 39.

Source: L. 2018: Entire article added with relocations, (SB 18-034), ch. 14, p. 198, § 2, effective October 1.

Editor's note: This section is similar to former § 12-47.1-604 as it existed prior to 2018.