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Partnership Income Tax -- Quick Answers
Amending a return
A change or correction on your return must be reported on a corrected
on Revenue Online. If filing on paper, mark the Amended Return box at the top of the corrected DR 0106. The corrected form must include all required schedules even if the schedule was submitted with the original return and has not changed.
Colorado does not tax the built-in gains of an S Corporation because an S Corporation is not directly subject to Colorado income tax
Copy of a Return
Taxpayers may obtain copies online of their most recent income tax returns (paper or e-filed). Sign up for access to your tax account through
. Revenue Online is a secure method of accessing tax account history and information.
If you are looking for an older return or you cannot access Revenue Online, download the Request for Copy of Tax Returns form
. This form must be notarized before you mail it to the department address noted in the instructions. This form may not be faxed. Please include the address where the documents should be mailed. Allow six to eight weeks to receive the certified copies.
taxpayer service center location
. The representatives can access copies of your returns at these locations. If you need a certified copy of a tax return, complete the DR 5714 when you are in the service center and submit it to the representative. Allow six to eight weeks to receive certified copies by mail.
Contact our Tax Information line: 303-238-7378. A copy of the return will be mailed to you. If you need a certified copy of a tax return, the representative will mail the DR 5714 request form to you. Complete the form, get it notarized and mail to the department address noted in the instructions. Allow six to eight weeks to receive certified copies by mail.
A third party who has a valid state or federal Power of Attorney may request return copies by attaching the Colorado Tax Information Designation and Power of Attorney for Representation (
) or the federal 2848 power of attorney form to the DR 5714. The Power of Attorney document must specify the tax types the third party can access. Note that to ensure tax information confidentiality, the Request for Copy of Tax Returns requires notary verification on the paper form regarding the identity of the individual making the request, even when the taxpayer (not a third party) is making the request.
Any partnership, joint venture, common trust fund, limited association, pool or working agreement, limited liability company or any other combination of persons or interests, that is required to file a federal partnership return of income, must file a Colorado
Partnership or S Corporation Return of Income 106
form to amend a return.
if any of the partnership income is from Colorado sources.
An S corporation must file a Partnership or S Corporation form 106 for any year it is doing business in Colorado. An S corporation will be deemed to be doing business in Colorado if it is engaged in any activities in Colorado which are beyond the protection afforded by Public Law 86-272. An S corporation is a corporation for which a valid election is in effect under section 1363(a) of the Internal Revenue Code. If a corporation is an S corporation for federal income tax purposes it is an S corporation for Colorado income tax purposes. S corporations are not subject to Colorado income tax.
However, an S corporation can file a composite return on behalf of their partner/shareholders OR they can pass the liability through to the partner/shareholders who report the income on their personal returns.
A partnership or S corporation is required to ensure that its nonresident partners and shareholders file a Colorado income tax return to report their share of Colorado source income earned by the partnership or S corporation. This is accomplished in one of three ways:
File a composite return on behalf of the nonresident partner/shareholder
Nonresident Partner/Shareholder Agreement (DR 0107)
for each nonresident partner/shareholder. Each nonresident partner/shareholder will be responsible for filing their own individual income tax return and payment.
Withhold the current income tax rate of 4.63% from each nonresident partner/shareholder's Colorado source income. Submit payment with a
Nonresident Partner/Shareholder Agreement (DR 0108)
for each nonresident partner/shareholder.
Nonresident partners and shareholders include nonresident individuals and nonresident estates or trusts.
A partnership or S corporation may file a composite return on Form 106 for its nonresident partners or shareholders as a simplified way of paying the income tax owed by those taxpayers. This replaces the preparation of a separate Colorado income tax return for each taxpayer. Each nonresident partner or shareholder may elect to be included or excluded from the composite filing. The tax paid will be 4.63% of the Colorado source income attributable to the partners/shareholders included in the composite return.
The return is due to be filed 3½ months after the close of the tax year, or after the automatic six-month extension if applicable. See the extension payment instructions for further information. Calendar year returns are due on April 15.
You may inquire about the status of your refund by visiting our
service, 24-hours a day, seven days a week. Sign up for Revenue Online access, then login to your account.