ABCDEFGHIJKLMNOPQRSTUVWXYZ
1
Colorado Department of Revenue
2
2020 Corporate Statistics of Income
3
Table 12. Corporations that Conduct Business Within and Outside of Colorado: Colorado Additions and Subtractions by Size of Colorado Taxable Income
4
5
This table summarizes the types of Colorado additions and subtractions claimed by C corporations that conduct business within and outside of Colorado. The values summarized in this table are not Colorado specific (except for Colorado net operating loss deductions), because the Colorado portions of additions and subtractions are not itemized on returns. Subtractions are presented as negative values to distinguish them from the additions.
6
7
I. Number of Returns
8
Size of Colorado Taxable IncomeAdditionsSubtractionsTotal Modifications ²
9
Federal Net Operating Losses AddbackColorado Income Tax AddbackBusiness Interest Expense Deduction AddbackOther AdditionsU.S. Government Interest SubtractionForeign Source Income ExclusionColorado Capital Gain SubtractionColorado Marijuana Business SubtractionOther SubtractionsColorado Corporate Net Operating Loss Deduction ¹
10
Negative Income2308251,3319502442720797503,508
11
$ 0 to $ 9,9993,2071,6011,015741209251008572,8996,014
12
$ 10,000 to $ 19,999267388877413110091186657
13
$ 20,000 to $ 29,99916026149611270061103425
14
$ 30,000 to $ 39,999941904227812004763288
15
$ 40,000 to $ 49,99978157422877004058237
16
$ 50,000 to $ 59,999641453728109NR02855217
17
$ 60,000 to $ 74,999851664234812003744248
18
$ 75,000 to $ 99,99911323054411213004972342
19
$ 100,000 to $ 199,9992685691381103554NR0154174816
20
$ 200,000 to $ 499,9992676281691594872NR0221173880
21
$ 500,000 to $ 999,9991534076810338690NR196114532
22
$ 1,000,000 and over5081,1041424071833450NR7102651,318
23
Total5,4946,6713,2162,7638271,1344103,4664,20615,482
24
25
II. Additions and Subtractions
26
Size of Colorado Taxable IncomeAdditions ³Subtractions ³Total Modifications ⁴
27
Federal Net Operating Losses AddbackColorado Income Tax AddbackBusiness Interest Expense Deduction AddbackOther AdditionsU.S. Government Interest SubtractionForeign Source Income ExclusionColorado Capital Gain SubtractionColorado Marijuana Business SubtractionOther SubtractionsColorado Corporate Net Operating Loss Deduction ¹
28
Negative Income$3,493,589,074 $132,078,894 $20,165,331,004 $7,746,898,018 ($695,413,473)($11,876,393,654)$0 ($143,815,738)($6,928,481,197)$0 $11,893,792,928
29
$ 0 to $ 9,999$50,056,245,357 $792,356,195 $14,720,391,003 $5,306,381,728 ($4,273,124,869)($19,388,596,176)$0 $0 ($12,084,142,800)($1,805,305,764)$33,324,204,674
30
$ 10,000 to $ 19,999$673,098,953 $4,135,434 $215,273,182 NRNR($59,280,157)$0 $0 ($68,471,592)($8,887,684)$1,223,920,815
31
$ 20,000 to $ 29,999$1,112,017,411 NR$224,452,218 $26,577,248 NR($13,502,534)$0 $0 ($35,067,580)($13,217,890)$1,288,264,750
32
$ 30,000 to $ 39,999$329,505,821 $5,505,020 $327,927,979 $65,877,558 ($291,338)($54,524,767)$0 $0 ($67,752,032)($5,120,889)$601,127,352
33
$ 40,000 to $ 49,999$213,968,469 $1,534,357 $347,256,119 NRNRNR$0 $0 NR($7,421,097)($4,096,997,329)
34
$ 50,000 to $ 59,999$261,542,982 $1,978,880 $506,476,801 $110,845,926 NRNRNR$0 ($52,879,763)($13,350,038)$399,673,596
35
$ 60,000 to $ 74,999$527,080,613 $2,531,701 $283,706,022 NR($5,637,784)($35,507,709)$0 $0 NR($6,133,704)$629,637,488
36
$ 75,000 to $ 99,999$719,184,096 $3,667,240 $208,767,830 $31,610,841 NRNR$0 $0 ($121,053,283)($17,839,527)$673,125,340
37
$ 100,000 to $ 199,999$2,020,240,835 $20,238,555 $859,514,643 $456,066,466 ($37,175,414)NRNR$0 ($1,715,806,868)($55,269,787)($2,179,122,896)
38
$ 200,000 to $ 499,999$5,632,069,078 $34,833,113 $2,437,104,909 NR($159,627,392)($1,633,314,286)NR$0 ($769,332,846)($83,730,685)$5,936,445,846
39
$ 500,000 to $ 999,999$4,656,255,868 $51,319,653 $1,134,099,870 $570,098,838 NR($2,325,565,745)$0 NR($1,600,779,101)($74,373,658)$2,342,779,845
40
$ 1,000,000 and over$29,086,624,538 NR$9,863,731,883 $14,891,518,667 ($17,913,985,298)($110,518,009,186)$0 NR($49,792,773,593)($869,195,567)($124,384,802,343)
41
Total$98,781,423,095 $1,934,049,629 $51,294,033,463 $30,687,506,123 ($23,233,956,851)($154,987,206,142)($318,352)($170,679,556)($73,692,955,053)($2,959,846,290)($72,347,949,934)
42
43
III. Average Additions and Subtractions per Return
44
Size of Colorado Taxable IncomeAdditions ³Subtractions ³Total Modifications ⁴
45
Federal Net Operating Losses AddbackColorado Income Tax AddbackBusiness Interest Expense Deduction AddbackOther AdditionsU.S. Government Interest SubtractionForeign Source Income ExclusionColorado Capital Gain SubtractionColorado Marijuana Business SubtractionOther SubtractionsColorado Corporate Net Operating Loss Deduction ¹
46
Negative Income$15,189,518 $160,096 $15,150,512 $8,154,629 ($2,850,055)($43,663,212)$0 ($20,545,105)($7,106,135)$0 $3,390,477
47
$ 0 to $ 9,999$15,608,433 $494,913 $14,502,848 $7,161,109 ($20,445,574)($77,245,403)$0 $0 ($14,100,517)($622,734)$5,541,105
48
$ 10,000 to $ 19,999$2,520,970 $10,658 $2,474,404 NRNR($5,389,105)$0 $0 ($752,435)($47,783)$1,862,893
49
$ 20,000 to $ 29,999$6,950,109 NR$4,580,658 $435,693 NR($1,928,933)$0 $0 ($574,878)($128,329)$3,031,211
50
$ 30,000 to $ 39,999$3,505,381 $28,974 $7,807,809 $2,439,910 ($36,417)($4,543,731)$0 $0 ($1,441,533)($81,284)$2,087,248
51
$ 40,000 to $ 49,999$2,743,186 $9,773 $8,268,003 NRNRNR$0 $0 NR($127,950)($17,286,909)
52
$ 50,000 to $ 59,999$4,086,609 $13,647 $13,688,562 $3,958,783 NRNRNR$0 ($1,888,563)($242,728)$1,841,814
53
$ 60,000 to $ 74,999$6,200,948 $15,251 $6,754,905 NR($704,723)($2,958,976)$0 $0 NR($139,402)$2,538,861
54
$ 75,000 to $ 99,999$6,364,461 $15,945 $3,866,071 $770,996 NRNR$0 $0 ($2,470,475)($247,771)$1,968,203
55
$ 100,000 to $ 199,999$7,538,212 $35,569 $6,228,367 $4,146,059 ($1,062,155)NRNR$0 ($11,141,603)($317,642)($2,670,494)
56
$ 200,000 to $ 499,999$21,093,892 $55,467 $14,420,739 NR($3,325,571)($22,684,921)NR$0 ($3,481,144)($483,992)$6,745,961
57
$ 500,000 to $ 999,999$30,433,045 $126,093 $16,677,939 $5,534,940 NR($33,703,851)$0 NR($8,167,240)($652,401)$4,403,722
58
$ 1,000,000 and over$57,257,135 NR$69,462,901 $36,588,498 ($97,890,630)($320,342,056)$0 NR($70,130,667)($3,279,983)($94,373,902)
59
Average$17,979,873 $289,919 $15,949,637 $11,106,589 ($28,094,265)($136,673,021)($79,588)($17,067,956)($21,261,672)($703,720)($4,673,036)
60
61
Source: Colorado C corporation income tax returns
62
NR - Not releasable due to confidentiality requirements. Total includes NR data.
63
¹ 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.
64
² 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.
65
³ Colorado portions of additions and subtractions are not itemized on returns because itemization is not needed to determine Colorado taxable income. Colorado corporate income tax is generally based on federal
taxable income, and additions and subtractions are used to modify federal taxable income. Next, a schedule is used to apportion the modified federal taxable income to Colorado. Finally, Colorado net operating losses are subtracted from the apportioned income to determine Colorado taxable income.
66
⁴ The total modifications values are calculated on the sum of positive and negative numbers.
67
68
Prepared by: Office of Research and Analysis, Colorado Department of Revenue | dor_ora@state.co.us
69
Data extracted: August 25, 2022
70
Publish date: February 2023
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100