Colorado DOR Releases Guidance on Remediation of Contaminated Land Credit

The Colorado Department of Revenue (DOR) released guidance on the Remediation of Contaminated Land Credit. This credit allows property owners who receive a certificate from the Colorado Department of Public Health and Environment for approved environmental remediation to claim a tax credit based on the remediation costs incurred, subject to certain limits. The credit can be transferred to another taxpayer, and any unused portion can be carried forward for up to five years. The DOR also provides guidance on eligibility, calculation, transfer, and claiming procedures for this credit. [Colo. Dep’t of Revenue, Income Tax Topics: Remediation of Contaminated Land Credit, ...