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Colorado Department of Revenue
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2021 Corporate Statistics of Income
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Table 12. Corporations that Conduct Business Within and Outside of 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 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.
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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 Income4208311,128207279051,0612203,017
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$0 under $10K3,9201,8451,0092542790NR1,096353,1256,661
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$10K under $20K342431772524NR0103NR264770
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$20K under $30K22527873121900684158500
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$30K under $40K1642164915110057NR109368
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$40K under $50K9618138860046581277
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$50K under $60K82148268100NR46360221
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$60K under $75K114191537100065NR81300
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$75K under $100K1372695613220081993378
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$100K under $200K29758413522520014611188844
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$200K under $500K326752221499000249172231,023
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$500K under $1M2234891634180NR021312144647
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$1M and over6131,355524217444NR4851363681,584
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Total6,9597,5703,5528781,3264114,0821584,89416,590
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II. Additions and Subtractions ⁴
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Size of Colorado Taxable IncomeFederal Net Operating Losses 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 ⁵
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Negative Income$7,183,509,927 $60,467,141 $5,713,667,964 ($1,133,398,000)($13,134,335,257)$0 ($309,913,308)($10,760,226,185)($5,639,768)$0 ($12,385,867,486)
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$0 under $10K$96,489,390,631 NR$4,401,200,812 ($2,739,752,162)($33,253,714,144)$0 NR($11,258,277,233)($8,337,693)($2,020,466,080)$51,698,956,365
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$10K under $20K$1,251,447,709 $5,319,630 $54,147,607 NR($154,679,099)NR$0 ($141,719,836)NR($16,983,676)$992,340,714
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$20K under $30K$1,099,917,071 $4,013,716 NRNR($46,516,769)$0 $0 ($209,336,039)($1,200,000)($25,960,049)$1,313,518,269
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$30K under $40K$732,899,126 $4,507,013 $64,452,776 NRNR$0 $0 ($53,178,091)NR($10,501,388)$647,938,766
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$40K under $50K$1,151,903,678 $2,848,974 $74,799,509 ($469,881)($62,246,862)$0 $0 ($82,161,773)($1,500,000)($13,186,137)$1,069,987,508
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$50K under $60K$434,282,751 $2,573,022 $18,215,921 ($1,293,885)NR$0 NR($225,564,169)($900,000)($7,976,417)$167,931,421
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$60K under $75K$2,119,991,518 $4,908,742 $52,907,139 ($2,716,305)NR$0 $0 ($112,259,567)NR($15,696,753)$1,930,943,533
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$75K under $100K$1,443,814,268 NR$253,458,466 NR($191,000,778)$0 $0 ($165,186,371)($1,855,631)($22,493,945)$1,286,916,410
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$100K under $200K$2,792,724,784 NRNR($69,357,894)($8,945,685,280)$0 $0 ($1,115,614,923)($3,156,732)($53,604,975)$1,103,156,153
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$200K under $500K$5,269,536,132 $52,841,101 $1,177,816,088 ($73,776,323)($1,724,578,011)$0 $0 ($1,116,560,742)($4,963,980)($131,326,854)$3,448,987,411
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$500K under $1M$5,421,191,432 $41,427,900 $841,357,742 NR($2,327,896,881)NR$0 ($1,390,810,912)($3,541,573)($104,698,116)$2,438,813,836
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$1M and over$34,157,224,754 $1,176,007,237 $26,974,444,661 ($16,161,078,053)($162,405,552,715)NRNR($51,978,448,555)($9,707,048)($1,133,017,874)($169,509,639,336)
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Total$159,547,833,781 $1,498,020,410 $48,607,988,104 ($20,271,046,419)($222,499,467,885)($349,232)($472,287,311)($78,609,344,396)($41,451,224)($3,555,912,264)($115,796,016,436)
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III. Average Additions and Subtractions per Return ⁴
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Size of Colorado Taxable IncomeFederal Net Operating Losses 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 ⁵
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Negative Income$17,103,595 $72,764 $5,065,308 ($5,475,353)($47,076,470)$0 ($61,982,662)($10,141,589)($256,353)$0 ($4,105,359)
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$0 under $10K$24,614,640 NR$4,361,943 ($10,786,426)($119,188,940)$0 NR($10,272,151)($238,220)($646,549)$7,761,441
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$10K under $20K$3,659,204 $12,343 $703,216 NR($6,444,962)NR$0 ($1,375,921)NR($64,332)$1,288,754
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$20K under $30K$4,888,520 $14,438 NRNR($2,448,251)$0 $0 ($3,078,471)($300,000)($164,304)$2,627,037
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$30K under $40K$4,468,897 $20,866 $1,315,363 NRNR$0 $0 ($932,949)NR($96,343)$1,760,703
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$40K under $50K$11,998,997 $15,740 $1,968,408 ($58,735)($10,374,477)$0 $0 ($1,786,126)($300,000)($162,792)$3,862,771
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$50K under $60K$5,296,131 $17,385 $700,612 ($161,736)NR$0 NR($4,903,569)($300,000)($132,940)$759,871
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$60K under $75K$18,596,417 $25,700 $998,248 ($388,044)NR$0 $0 ($1,727,070)NR($193,787)$6,436,478
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$75K under $100K$10,538,790 NR$4,526,044 NR($8,681,854)$0 $0 ($2,039,338)($206,181)($241,870)$3,404,541
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$100K under $200K$9,403,114 NRNR($3,152,632)($172,032,409)$0 $0 ($7,641,198)($286,976)($285,133)$1,307,057
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$200K under $500K$16,164,221 $70,267 $5,329,485 ($1,505,639)($19,161,978)$0 $0 ($4,484,180)($291,999)($588,910)$3,371,444
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$500K under $1M$24,310,275 $84,720 $5,161,704 NR($29,098,711)NR$0 ($6,529,629)($295,131)($727,070)$3,769,419
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$1M and over$55,721,411 $867,902 $51,477,948 ($74,475,014)($365,778,272)NRNR($61,079,258)($269,640)($3,078,853)($107,013,661)
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Average$22,926,833 $197,889 $13,684,681 ($23,087,752)($167,797,487)($87,308)($42,935,210)($19,257,556)($262,350)($726,586)($6,979,868)
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Source: Colorado C corporation 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 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.
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⁵ 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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