In a previous post, we noted that the Colorado Department of Revenue (CDOR) was considering revisions to conservation easement tax credit regulations, and on March 17, 2021, those revisions were adopted.  Rule 39-22-104(3)(g), Rule 39-22-304(2)(f) and Rule 39-22-522 will become effective on April 30, 2021.  As a reminder, the amendments are intended to conform the regulations to House Bill 19-1264 signed into law on June 3, 2019, which included a number of substantive revisions to the conservation easement enabling statute (C.R.S. § 38-30.5-101, et seq.) and the conservation easement tax credit program in Colorado.
Continue Reading Colorado Department of Revenue Adopts Revised Conservation Easement Tax Credit Regulations

On December 7, 2020, the Colorado Department of Revenue (CDOR) issued a general information letter [Colo. Dep’t of Revenue, Gen. Info. Letter GIL-20-003, 12/07/20] regarding the eligibility of a mutual ditch company to claim a Colorado conservation easement tax credit, except when a state governmental entity is a shareholder.  CDOR determined that a mutual ditch

The Colorado Department of Revenue, Division of Taxation is seeking public comment on amendments to three conservation easement tax credit regulations.  The amendments are intended to conform the regulations to House Bill 19-1264 signed into law on June 3, 2019, which included a number of substantive revisions to the conservation easement enabling statute (C.R.S. § 38-30.5-101, et seq.) and the conservation easement tax credit program in Colorado.
Continue Reading Colorado Department of Revenue Proposes Revisions to Conservation Easement Tax Credit Regulations