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Colorado Revised Statutes Title 39. Taxation § 39-22-657. Material advisor--maintenance of list

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) For each reportable or listed transaction, a material advisor shall maintain a list of the persons to which the material advisor provides material aid, assistance, or advice with respect to organizing, managing, promoting, selling, implementing, insuring, or carrying out a reportable or listed transaction.

(2) The list required by subsection (1) of this section shall include:

(a) The name of each person described in subsection (1) of this section that is doing business in this state, a member of a Colorado combined group, or a member of an affiliated group as defined in section 1504 of the internal revenue code that includes a taxpayer doing business in this state;

(b) The same information required to be contained in the list described in 26 CFR 301.6112-1; and

(c) Any additional information required by the department by rules promulgated in accordance with section 39-21-112(1).

(3) The list required by subsection (1) of this section shall be maintained in the same form and manner as the list described in 26 CFR 301.6112-1.

(4) A material advisor required to maintain a list under subsection (1) of this section shall:

(a) Make the list available to the department upon written request by the department; and

(b) Retain the information that is required to be included on the list for seven years from the date that the information is included.

(5) The department shall promulgate rules in accordance with section 39-21-112(1) establishing procedures to implement this section.

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Cite this article: FindLaw.com - Colorado Revised Statutes Title 39. Taxation § 39-22-657. Material advisor--maintenance of list - last updated January 01, 2025 | https://codes.findlaw.com/co/title-39-taxation/co-rev-st-sect-39-22-657/

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