HB18-1185

HB18-1185 - Market Sourcing For Business Income Tax Apportionment

Passed/Signed into Law
Concerning changes to the state income tax apportionment statute based on the most recent multistate tax commission's uniform model of the uniform division of income for tax purposes act.

For income tax years commencing on and after January 1, 2019, the bill generally replaces the method for sourcing of sales for purposes of apportioning the income of a taxpayer that has income from the sale of services or from the sale, lease, license, or rental of intangible property in both Colorado and other states from the cost-of-performance test in the case of services and the commercial domicile test in the case of intangible property to a market-based sourcing system. Under this new system, receipts for the sale of services or from the sale, lease, license, or rental of intangible property are apportioned to Colorado based not on where the service is performed, but where the service is delivered.

(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

 

Latest update: June 4, 2018
06/04/2018 - Governor Signed
05/22/2018 - Sent to the Governor
05/22/2018 - Signed by the President of the Senate
05/22/2018 - Signed by the Speaker of the House
05/07/2018 - House Considered Senate Amendments - Result was to Concur - Repass
05/04/2018 - House Considered Senate Amendments - Result was to Laid Over Daily
05/04/2018 - Senate Third Reading Passed - No Amendments
05/03/2018 - Senate Second Reading Special Order - Passed with Amendments - Committee
05/03/2018 - Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the Whole
05/02/2018 - Senate Committee on Finance Refer Amended to Appropriations
04/27/2018 - Introduced In Senate - Assigned to Finance
04/27/2018 - House Third Reading Passed - No Amendments
04/26/2018 - House Second Reading Special Order - Passed with Amendments - Committee, Floor
04/25/2018 - House Committee on Appropriations Refer Amended to House Committee of the Whole
02/28/2018 - House Committee on Finance Refer Amended to Appropriations
02/15/2018 - House Committee on Business Affairs and Labor Refer Unamended to Finance
02/02/2018 - Introduced In House - Assigned to Business Affairs and Labor