Modification and characterization of income
C.R.S. § 39-22-323
in effect39-22-323. Modification and characterization of income. (1) An S corporation's income attributable to the state shall, for the purposes of section 39-22-322, be subject to the modifications provided in section 39-22-304.
(2) Each resident shareholder's pro rata share of the S corporation's income not attributable to the state shall, for the purposes of section 39-22-322 (2), be subject to the modifications provided in section 39-22-104.
(3) The character of any S corporation item taken into account by a shareholder of an S corporation pursuant to section 39-22-322 (2) shall be determined as if such item were received or incurred by the S corporation and not its shareholder.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://leg.colorado.gov/sites/default/files/images/olls/crs2024-title-39.docx#39-22-323Fetched: 10/6/2026