Colorado Code
Part 5 - Special Rules
§ 39-22-518. Tax Modification for Net Capital Gains - Definitions - Repeal

(I.5) "Qualified taxpayer" means, for income tax years commencing on or after January 1, 2022, any taxpayer that has no overdue state tax liabilities; that is not in default on any contractual obligations owed to the state or to any local government within Colorado at the time the modification created under this section is claimed; and that is required to file a schedule F, profit or loss from farming, or successor form, as an attachment to the taxpayer's federal income tax return for the tax year in which the net capital gains arise.

(B.5) For income tax years commencing before January 1, 2022, earned by the qualified taxpayer on either real or tangible personal property located within Colorado that was acquired on or after May 9, 1994, but before June 4, 2009, or on tangible personal property only located either within or outside Colorado that was acquired on or after June 4, 2009, and either of which has been owned by the qualified taxpayer for a holding period of at least five years prior to the date of the transaction from which the net capital gains arise if the transaction from which the net capital gains arise occurred during an income tax year that commenced on or after January 1, 2010; except that no more than one hundred thousand dollars of net capital gains described in this subsection (2)(b)(I)(B.5) are qualifying gains receiving capital treatment for any single income tax year. This subsection (2)(b)(I)(B.5) is repealed, effective December 31, 2030.
(B.7) For income tax years commencing on or after January 1, 2022, earned by the qualified taxpayer on qualified real property that was acquired on or after May 9, 1994, but before June 4, 2009, and has been owned by the qualified taxpayer for a holding period of at least five years prior to the date of the transaction from which the net capital gains arise; except that no more than one hundred thousand dollars of net capital gains described in this subsection (2)(b)(I)(B.7) are qualifying gains receiving capital treatment for any single income tax year.

Source: L. 94: Entire section added, p. 1104, § 1, effective May 9. L. 99: (2)(b)(I) and (2)(b)(II)(B) amended and (5), (6), and (7) added, p. 1284, § 1, effective August 4. L. 2000: (2)(b)(I), (5)(a), (5)(b)(I), (5)(b)(II), (5)(b)(V), (5)(b)(VI), (6), and (7) amended and (5)(c) and (5)(d) added, pp. 1456, 1459, §§ 1, 2, effective August 2. L. 2001: (7) amended, p. 1280, § 55, effective June 5; (5)(a), (5)(b)(I), (5)(b)(II), and (5)(b)(VI) amended, p. 394, § 5, effective August 8. L. 2009: (2)(b)(I)(A) and (2)(b)(I)(B) amended, (2)(b)(I)(B.5) and (8) added, and (2)(b)(I)(C), (2)(b)(I)(D), (2)(b)(I)(E), (2)(b)(I)(F), (5), (6), and (7) repealed, (HB 09-1366), ch. 432, pp. 2397, 2398, §§ 1, 2, 3, effective June 4. L. 2021: (2)(a)(I), (2)(b)(I)(B.5), and IP(2)(b)(II) amended and (2)(a)(I.5), (2)(b)(I)(B.7), and (2)(b)(II)(C) added, (HB 21-1311), ch. 298, p. 1778, § 8, effective June 23.
Editor's note: Subsection (8) provided for the repeal of subsections (2)(b)(I)(A), (2)(b)(I)(B), and (8), effective January 1, 2015. (See L. 2009, p. 2398 .)
Cross references: (1) For other provisions concerning adjustments to federal taxable income, see § 39-22-104.
(2) For the legislative declaration contained in the 2001 act amending subsections (5)(a), (5)(b)(I), (5)(b)(II), and (5)(b)(VI), see section 1 of chapter 133, Session Laws of Colorado 2001.
(3) For the legislative declaration in HB 21-1311, see section 1 of chapter 298, Session Laws of Colorado 2021.