Emergency Tax Regulations
The Colorado Department of Revenue has issued the following emergency regulations:
Retail Marijuana Sales and Excise Taxes
39-21-112 (1) -- Natural Disasters, Extension of Time to File
The immediate adoption of this new rule is necessary to respond to recent hardships caused by unprecedented flooding, and other natural disasters in this state and natural disasters impacting Colorado taxpayers residing in other states. Some taxpayers will be unable to meet Colorado tax filing and payment deadlines as a result of various natural disasters (tornadoes, wildfires, floods, etc.). Immediate adoption of this rule is necessary because some taxpayers impacted by recent natural disasters already face deadlines for the filing of various taxes, and their ability to file such returns may have been compromised by the natural disasters. The emergency adoption of this new rule is necessary for the preservation of public health, safety, or welfare, and to clarify the circumstances pursuant to state law under which the Executive Director may authorize extensions of time for the filing of tax returns with the Department of Revenue due to natural disaster, similar hardship or other good cause. Finally, compliance with the requirements of section §24-4-103, C.R.S., would be contrary to the public interest under the circumstances.
39-22-104(1.7) -- Income Tax Filing Status
The immediate adoption of this new rule is imperatively necessary to clarify the Colorado personal income tax implications of United States Internal Revenue Service’s Rev. Ruling 2013-17, which addresses tax filing status at the federal level for certain same sex couples. The IRS Ruling also permits the filing of amended tax returns. This federal ruling was immediately effective and has prompted many questions from taxpayers about how they must file their Colorado income tax return. Colorado’s state income tax is imposed upon federal taxable income and Colorado income tax is structured to align with federal income tax law and procedures, including filing status, for purposes of administrative efficiency and improved enforcement. See Section 39-22-102, C.R.S. Therefore, this rule clarifies that taxpayers shall file their Colorado income tax return showing the same filing status used on the taxpayers’ federal income tax return. Immediate adoption of this rule is necessary to provide guidance to taxpayers who are affected by Rev. Ruling 2013-17 and who must file a Colorado income tax return.