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Multistate Tax Alert: Colorado Adopts Tax Amnesty


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On June 6, 2011, Colorado governor John Hickenlooper signed Senate Bill 11-184, which establishes a tax amnesty program that will commence on October 1, 2011 and run through November 15, 2011. An eligible taxpayer who participates in the program and pays the full amount of the outstanding taxes plus one-half of the interest owed on or before November 15, 2011, will receive a waiver of the remaining one-half interest owed and a complete waiver of both criminal and civil penalties. The program also permits participation without payment of all taxes owed by November 15, 2011, provided that the taxpayer reports all taxes due and submits an amnesty application by that date, signs an “agreement to pay,” and pays all taxes and 100% of the interest owed in accordance with the terms of the agreement.

The amnesty covers several taxes administered by the Colorado Department of Revenue, including Colorado’s state income tax and state sales and use tax along with various other specified taxes, for which a return was required to be filed before December 31, 2010. The amnesty also includes covered taxes involving returns for which the Department has granted an extension beyond December 31, 2010. The amnesty does not cover any locally administered and collected taxes.

This attached Tax Alert summarizes the general terms of this amnesty program.

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