A four-bill tax package is making its way through the Colorado legislature. It consists of House Bill (HB) 1221, House Bill 1222, House Bill 1223, and House Bill 1289.
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Here’s how Rhonda Sparlin, Colorado Chamber of Commerce Board and Chamber Tax Council member, summarized each bill:
HB 1221: Raises taxes by disallowing corporate executive wages and restricting the use of net operating loss deductions.
HB 1222: Delays the timing of business deductions for depreciation, interest expense, and research and development expenses.
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