2020 Colorado Revised Statutes
Title 39 - Taxation
Article 23.5. Colorado Estate Tax
Section 39-23.5-107. Tax returns - date to be filed - extension.
(1) With respect to every gross estate or generation-skipping transfer, the person required to file a federal return shall file with the department on or before the date the federal return is required to be filed: (a) A Colorado return for the tax due under this article; and (b) A true copy of the federal return.
If the person required to file has obtained an extension of time for filing the federalreturn, the filing required by subsection (1) of this section shall be similarly extended until the end of the time period granted in the extension of time for filing the federal return. A true copy of said extension shall be filed with the department within thirty days of issuance.
No Colorado return need be filed if the gross estate or generation-skipping transferdoes not require the filing of a federal return.
If the gross estate or generation-skipping transfer does not require the filing of aColorado return, the person who would otherwise be required to file a Colorado return may apply to the department for the issuance of a certificate of tax determination. If the department is satisfied that the gross estate or generation-skipping transfer is not subject to the tax imposed by this article or that the tax liability has been fully discharged, it shall issue a certificate of tax determination. Such certificate, when issued, shall indicate it has been determined, based upon the Colorado return as filed, that the person who filed the Colorado return is free of any claim by the state for taxes owed under this article.
No tax waiver, consent to transfer, certificate of tax determination, or similar document shall be required for the transfer of any real or personal property located in Colorado included in a gross estate or generation-skipping transfer in the case of decedents dying and generation-skipping transfers occurring on or after July 1, 1980.
If any person fails or refuses to make any return required by this article, the executive director may make such return for such person from such information as may be available, and any assessment based on such return made by the executive director shall be as good and sufficient as if such return had been made and filed by the person liable therefor.
Any person who makes a special use valuation election in a federal return and who isrequired to file a federal additional estate tax return as a result of a premature disposition of property or premature cessation of the qualified use shall file with the department on or before the date the federal additional estate tax return is required to be filed: (a) A Colorado return for the estate tax due under this article; and (b) A true copy of the federal additional estate tax return.
Any person who makes a family-owned business deduction election in a federal return and who is required to file a federal additional estate tax return as a result of failure to materially participate in the business, disposition of interest, or other noncompliance with the requirements of section 2057 of the internal revenue code shall file with the department on or before the date the federal additional estate tax return is required to be filed: (a) A Colorado return for the estate tax due under this article; and (b) A true and correct copy of the federal additional estate tax return.
Any person who elects a qualified conservation easement exclusion in a federal return as allowed under section 2031 of the internal revenue code and who is required to file a federal additional estate tax return as a result of failure to implement the agreement described in section 2031 of the internal revenue code shall file with the department on or before the date the federal additional estate tax return is required to be filed:
A Colorado return for the estate tax due under this article; and(b) A true and correct copy of the federal additional estate tax return.
Source: L. 79: Entire article added, p. 1433, § 16, effective July 3. L. 80: (4) amended, p. 797, § 63, effective June 5; (3) and (4) added, p. 523, § 2, effective July 1. L. 83: IP(1) and (2) to (4) amended and (5) added, p. 1534, § 6, effective July 1. L. 85: (6) added, p. 1255, § 6, effective January 1, 1986. L. 87: IP(1), (3), and (4) amended, p. 1470, § 1, effective April 22. L. 92: (7) added, p. 2249, § 6, effective July 1. L. 98: (8) and (9) added, p. 314, § 2, effective July 1. L. 99: IP(8) amended, p. 630, § 44, effective August 4.
