Colorado DOR Issues Revised Corporate Income Tax Guide for C Corporations

The Colorado Department of Revenue March 1 issued a revised corporate income tax guide on the imposition of income taxes on C corporations doing business in the state. The guide includes information about: 1) conditions for C corporations to pay state income taxes and exclusions for foreign-source income; 2) filing and recordkeeping requirements, including for combined or consolidated returns; 3) tax calculations, including the election to calculate taxes based on gross receipts, and estimated tax payment procedures; 4) additions to and subtractions from federal taxable income and a new investment tax credit; and 5) the allocation and apportionment of income. ...