- 12 -
Under the applicable period of limitations, a refund of
Colorado income tax is available or would have been available to
petitioner after the correct Federal tax liability was
determined. As of December 16, 1997, the closing of the record
in this case, petitioner had not filed a protective claim with
the State of Colorado or an amended Colorado income tax return.
Section 39-21-108(1)(a) of the Colorado Revised Statutes (1998)
provides that, in the case of income tax,
the taxpayer must file any claim for refund or credit
for any year not later than one year after the
expiration of the time provided for filing a claim for
refund of federal income tax, including any extensions
of the period by agreement between the taxpayer and the
federal taxing authorities; but nothing in this
subsection (1) shall be construed to shorten the period
for filing claims provided by section 39-22-601(6)(f).
* * *
Section 39-22-601(6)(f) of the Colorado Revised Statutes
provides: "Notwithstanding any provision of law, the statute of
limitations relating to claims for refund or credit for any year
shall not expire prior to the expiration of the time within which
a deficiency for such year could be assessed." Generally, a
deficiency in Colorado income tax can be assessed until 1 year
after the date of expiration of the period for assessing
deficiencies in Federal income tax, including any extensions of
the period by agreement between the taxpayer and the Internal
Revenue Service. See Colo. Rev. Stat. sec. 39-21-107(2).
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Next
Last modified: May 25, 2011