Colorado DOR Issues Emergency Regulation on Income Tax Refund of Remaining Excess Revenue

The Colorado Department of Revenue (DOR) Dec. 8 issued an emergency regulation concerning the refund of remaining excess revenues from the state fiscal year 2022-2023, for individual income tax purposes. The emergency regulation includes: 1) in the case of a qualified individual filing a single return, the calculated identical individual refund is $800; and 2) in the case of two qualified individuals filing a joint return, the calculated identical individual refund is $1600. The DOR will hold a public rulemaking hearing regarding the adoption of the permanent rule on Jan. 18, 2024. [Colo. Dep’t of Revenue, Emergency Reg. Section 39-22-2005, ...