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Colorado DOR Announces Virtual Stakeholder Meeting on December 7 to Consider NOL Rule Changes
Proposed Regs. Section 39-22-504-2, Colo. Dept. of Rev. (11/5/21). The Colorado Department of Revenue (Department) announced that it is considering a draft administrative rule to replace its existing Rule 39-22-504(2) and clarify i) the Colorado allocation of net operating losses (NOLs) allowed to C corporations, ii) the carryforward of such NOLs, and iii) limitations applicable to the deduction of such NOLs. To this end, the Department has scheduled a virtual stakeholder workgroup meeting on December 7, 2021 to discuss the draft corporate income tax rule regarding Colorado NOLs. Written comments on the proposal are due by December 7, 2021, too. Please contact us with any questions.
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