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Colorado Revised Statutes Title 39. Taxation § 39-3-127.5. Qualifying business entities--participation in federal tax credit transactions--exemption--requirements--definitions

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

(1) As used in this section, unless the context otherwise requires:

(a) “Qualified business entity” means a limited partnership or a limited liability company:

(I) That is formed for the purpose of obtaining federal tax credits and that does obtain such credits; and

(II) The general partner or managing member of which is an entity that would qualify for property tax exemption under sections 39-3-106 to 39-3-113.5.

(2) For property tax years beginning on or after January 1, 2014, real and personal property is exempt from the levy and collection of property tax if:

(a) The property tax is owed by a qualified business entity; and

(b) The property is used for the purposes described in sections 39-3-106 to 39-3-113.5 and 39-3-116.

(3) In addition to any other requirement specified in this section, any exemption claimed pursuant to the provisions of this section must also comply with section 39-2-117.

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Cite this article: FindLaw.com - Colorado Revised Statutes Title 39. Taxation § 39-3-127.5. Qualifying business entities--participation in federal tax credit transactions--exemption--requirements--definitions - last updated January 01, 2025 | https://codes.findlaw.com/co/title-39-taxation/co-rev-st-sect-39-3-127-5/

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