Tax Council
Location: Zoom
Governor Polis has called a special session to begin on August 21st. The full letter can be found here. The call includes tax policy changes to help fill the $783 million hole in the FY 25/26 budget year due to the passage of H.R. 1.
As a result, the Colorado Chamber is scheduling a virtual tax council meeting Monday at 10am to get feedback on the policies proposed by the Governor’s Office.
These policy proposals are:
- Concerning changes to C.R.S. § 24-2-102 and 24-75-201.5 regarding revenue shortfalls and insufficient revenue.
- Concerning allowing the State to sell tax credits, including insurance premium tax credits, to certain taxpayers.
- Concerning extending decoupling through an add back of the qualified business income deduction in C.R.S. § 39-22-104.
- Concerning adjustments and reductions to the Home Office and Regional Home Office Rate Reduction in C.R.S. § 10-3-209.
- Concerning expanding the foreign listed jurisdictions in C.R.S. § 39-22-303 to ensure companies are paying appropriate taxes in Colorado.
- Concerning adjustments and reductions to the Sales Tax Vendor Fees in C.R.S. §39-26-105.
- Concerning decoupling through an add back of the federal Foreign-Derived Intangible Income (FDII) deduction.
Please RSVP to [email protected] to receive the Zoom link.