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Colorado Department of Revenue
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2021 Corporate Statistics of Income
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Table 11. Corporations that Conduct Business Only in Colorado: Colorado Additions and Subtractions by Size of Colorado Taxable Income
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This table summarizes the types of Colorado additions and subtractions claimed by C corporations that conduct business only in Colorado. Subtractions are presented as negative values to distinguish them from the additions.
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I. Number of Returns
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Size of Colorado Taxable IncomeFederal Net Operating Loss AddbackColorado Income Tax AddbackOther AdditionsU.S. Government Interest SubtractionForeign Source Income ExclusionColorado Capital Gain SubtractionColorado Marijuana Business SubtractionOther SubtractionsSubtractions Allowed Under HB21-1002 ¹Colorado Corporate Net Operating Loss Deduction ¹, ²Total Modifications ³
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Negative Income86586981019NR762151301,062
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$0 under $10K2,64697915041941110092,5183,714
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$10K under $20K27230056NR05180207519
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$20K under $30K1741698NR00NR150118318
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$30K under $40K10911953NRNR49078217
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$40K under $50K741023300NR12059170
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$50K under $60K51734NR0004045119
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$60K under $75K60115740045NR51164
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$75K under $100K57131600NRNR12050181
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$100K under $200K105285115NRNR1224NR87367
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$200K under $500K842762080NR2122066355
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$500K under $1M48143530NR1611NR41183
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$1M and over532053120NRNR2616052262
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Total3,8193,4833531962214181463253,3727,631
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II. Additions and Subtractions
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Size of Colorado Taxable IncomeFederal Net Operating Loss AddbackColorado Income Tax AddbackOther AdditionsU.S. Government Interest SubtractionForeign Source Income ExclusionColorado Capital Gain SubtractionColorado Marijuana Business SubtractionOther SubtractionsSubtractions Allowed Under HB21-1002 ¹Colorado Corporate Net Operating Loss Deduction ¹, ²Total Modifications ⁴
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Negative Income$70,864,942 $2,012,945 $33,804,312 NR($4,669,137)NR($61,865,065)($89,213,411)($496,010)$0 ($50,477,473)
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$0 under $10K$281,167,873 $712,083 $17,876,796 ($757,454)NRNR($2,023,514)($78,988,221)($71,434)($261,104,666)($59,017,860)
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$10K under $20K$9,556,004 NRNRNRNR$0 ($837,176)($3,314,305)$0 ($8,964,996)($168,809)
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$20K under $30K$9,956,783 $299,521 $186,122 NR$0 $0 NR($8,566,827)$0 ($8,495,861)($7,027,902)
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$30K under $40K$6,963,635 $276,916 NRNRNRNR($1,076,348)NR$0 ($6,561,973)($1,753,413)
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$40K under $50K$4,965,253 NR$24,035 ($1,410)$0 $0 NR($14,336,040)$0 ($5,407,330)($14,933,829)
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$50K under $60K$5,819,174 $215,552 NRNR$0 $0 $0 ($552,533)$0 ($5,389,050)$479,929
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$60K under $75K$5,510,447 $472,553 NR($630)$0 $0 ($1,347,240)NRNR($5,410,826)$383,598
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$75K under $100K$6,030,945 $677,060 $97,903 $0 $0 NRNR($130,648)$0 ($5,963,105)($974,643)
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$100K under $200K$16,665,705 $2,211,714 NRNRNRNR($13,181,017)($5,597,765)NR($16,348,743)($15,554,218)
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$200K under $500K$21,948,853 $4,304,882 $1,175,812 NR$0 NR($13,713,705)($14,864,051)$0 ($12,390,516)($13,751,782)
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$500K under $1M$31,306,000 $4,206,150 NR($10,268)$0 NR($11,775,395)($227,979)NR($31,273,487)($8,233,705)
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$1M and over$177,326,259 $36,619,194 $13,687,186 ($2,004,749)NRNR($66,644,922)($6,811,436)$0 ($123,227,226)$28,776,398
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Total$648,081,873 $54,838,248 $71,646,203 ($3,890,195)($21,038,285)($846,124)($175,029,232)($224,189,183)($1,289,235)($490,537,779)($142,253,709)
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III. Average Additions and Subtractions per Return
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Size of Colorado Taxable IncomeFederal Net Operating Loss AddbackColorado Income Tax AddbackOther AdditionsU.S. Government Interest SubtractionForeign Source Income ExclusionColorado Capital Gain SubtractionColorado Marijuana Business SubtractionOther SubtractionsSubtractions Allowed Under HB21-1002 ¹Colorado Corporate Net Operating Loss Deduction ¹, ²Total Modifications ⁴
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Negative Income$824,011 $3,435 $344,942 NR($518,793)NR($814,014)($414,946)($38,155)$0 ($47,531)
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$0 under $10K$106,261 $727 $119,179 ($18,474)NRNR($183,956)($789,882)($7,937)($103,695)($15,891)
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$10K under $20K$35,132 NRNRNRNR$0 ($167,435)($184,128)$0 ($43,309)($325)
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$20K under $30K$57,223 $1,772 $23,265 NR$0 $0 NR($571,122)$0 ($71,999)($22,100)
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$30K under $40K$63,887 $2,327 NRNRNRNR($269,087)NR$0 ($84,128)($8,080)
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$40K under $50K$67,098 NR$8,012 ($470)$0 $0 NR($1,194,670)$0 ($91,650)($87,846)
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$50K under $60K$114,101 $2,953 NRNR$0 $0 $0 ($138,133)$0 ($119,757)$4,033
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$60K under $75K$91,841 $4,109 NR($158)$0 $0 ($336,810)NRNR($106,095)$2,339
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$75K under $100K$105,806 $5,168 $16,317 $0 $0 NRNR($10,887)$0 ($119,262)($5,385)
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$100K under $200K$158,721 $7,760 NRNRNRNR($1,098,418)($233,240)NR($187,917)($42,382)
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$200K under $500K$261,296 $15,597 $58,791 NR$0 NR($653,034)($675,639)$0 ($187,735)($38,737)
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$500K under $1M$652,208 $29,414 NR($3,423)$0 NR($735,962)($20,725)NR($762,768)($44,993)
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$1M and over$3,345,778 $178,630 $441,522 ($100,237)NRNR($2,563,266)($425,715)$0 ($2,369,754)$109,834
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Average$169,699 $15,745 $202,964 ($19,848)($956,286)($60,437)($967,012)($484,210)($51,569)($145,474)($18,642)
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Source: Colorado corporate income tax returns
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NR - Not releasable due to confidentiality requirements. Total includes NR data.
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¹ Due to revised guidance provided to taxpayers several months after the 2021 return was available, subtractions allowed under HB21-1002 were either claimed on line 13 of the return (2021 DR 0112), which is what is itemized and presented in this report, or claimed on same line as Colorado corporate net operating loss deductions. It is not possible to quantify the extent that taxpayers reported this subtraction on the same line as the Colorado corporate net operating loss deduction.
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² The Colorado corporate net operating loss deduction values in this report were adjusted so that they do not exceed Colorado taxable income before the net operating loss deduction. This adjustment can be made because Colorado taxable income before the net operating loss deduction is a line on the tax return. If that line is $0 or less, the net operating loss deduction amount was reduced to $0.
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³ The total number of returns are not a sum of the counts presented because multiple modifications can be reported on a single return. The total number of returns represents the count of returns in which at least one modification (addition or subtraction) was claimed.
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⁴ The total modifications values are calculated on the sum of positive and negative numbers.
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Prepared by: Office of Research and Analysis, Colorado Department of Revenue | dor_ora@state.co.us
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Data extracted: August 24, 2023
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Publish date: July 2024
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