39-22-129 - Child Tax Credit

Basis and Purpose. The bases for this rule are sections 39-21-112(1) and 39-22-129, C.R.S. The purpose of this rule is to clarify that the child tax credit must be adjusted if the federal credit on which it is based is adjusted, and to describe the proper apportionment of the child tax credit allowed to part-year Colorado residents.

(1) Under section 39-22-129(3), C.R.S., the allowable Colorado child tax credit is equal to a percentage of the allowed federal child tax credit. If the federal child tax credit a taxpayer claims is disallowed, in whole or in part, or otherwise adjusted, the allowable Colorado child tax credit under section 39-22-129(3), C.R.S., shall be adjusted accordingly based on the amount of the federal credit that is allowed. However, additional Colorado child tax credit may be allowable under section 39-22-129 (3.5), C.R.S.

(2) In the case of a part-year Colorado resident, the allowable child tax credit shall be apportioned by multiplying the credit otherwise calculated pursuant to section 39-22-129, C.R.S., by the ratio determined under section 39-22-110(1), C.R.S.; except that the ratio for apportioning the child tax credit may not exceed 100%, even if the ratio determined under section 39-22-110(1), C.R.S., exceeds 100%.

Notes

39-22-129

Colorado Register, Vol 37, No. 14. July 25, 2014, effective 8/14/2014 37 CR 18, September 25, 2014, effective 10/15/2014 37 CR 19, October 10,2014, effective 10/30/2014 37 CR 22, November 25, 2014, effective 12/16/2014 38 CR 04, February 25, 2015, effective 3/17/2015 38 CR 07, April 10, 2015, effective 4/30/2015 38 CR 11, June 10, 2015, effective 6/30/2015 38 CR 22, November 25, 2015, effective 12/15/2015 38 CR 24, December 25, 2015, effective 1/14/2016 38 CR 24, December 25, 2015, effective 1/19/2016 39 CR 01, January 10, 2016, effective 1/30/2016 39 CR 16, August 25, 2016, effective 9/14/2016 40 CR 08, April 25, 2017, effective 5/15/2017 40 CR 12, June 25, 2017, effective 7/15/2017 40 CR 16, August 25, 2017, effective 9/14/2017 40 CR 23, December 10, 2017, effective 1/1/2018 41 CR 14, July 25, 2018, effective 8/14/2018 41 CR 20, October 25, 2018, effective 11/14/2018 42 CR 02, January 25, 2019, effective 12/18/2018 42 CR 02, January 25, 2019, effective 12/18/2018, expires 4/17/2019 42 CR 06, March 25, 2019, effective 4/14/2019 43 CR 04, February 25, 2020, effective 3/16/2020 43 CR 13, July 10, 2020, effective 6/2/2020 43 CR 17, September 10, 2020, effective 9/30/2020 44 CR 03, February 10, 2021, effective 3/2/2021 44 CR 07, April 10, 2021, effective 4/30/2021 44 CR 08, April 25, 2021, effective 5/15/2021 45 CR 01, January 10, 2022, effective 1/30/2022 45 CR 04, February 25, 2022, effective 3/17/2022 45 CR 05, March 10, 2022, effective 3/30/2022 46 CR 11, June 10, 2023, effective 5/2/2023 46 CR 09, May 10, 2023, effective 5/30/2023