Colorado Revised Statutes Title 7. Corporations and Associations § 7-44-101. Tax exemptions--fees

Any water users' association that is organized in conformity with the requirements of the United States under the reclamation act of June 17, 1902, and that, under its articles of incorporation, is authorized to furnish water only to its stockholders, shall be exempt from the payment of any income tax and from the payment of any annual franchise tax but shall be required to pay, as preliminary to its incorporation, a fee that shall be determined and collected pursuant to section 24-21-104(3), C.R.S., for the filing and recording of its articles of incorporation.