Colorado Alternative Minimum Tax Schedule
Extracted from PDF file 2019-colorado-form-104amt.pdf, last modified August 2016
Alternative Minimum Tax ScheduleDR 0104AMT (10/15/19)) COLORADO DEPARTMENT OF REVENUE Denver CO 80261-0005 Colorado.gov/Tax *DO=NOT=SEND* Alternative Minimum Tax Instructions See form on page 2 Individual taxpayers are subject to a Colorado alternative minimum tax equal to the amount by which 3.47% of their Colorado alternative minimum taxable income exceeds their Colorado normal tax. Colorado alternative minimum taxable income is the federal alternative minimum taxable income modified by any applicable additions and subtractions. Enter on line 2 of form DR 0104AMT the additions entered on line 3, form DR 0104. Enter on line 4 of form DR 0104AMT the sum of all subtractions entered on the DR 0104AD excluding the State Income Tax Refund (line 1, DR 0104AD) and any interest paid by the State of Colorado or any political subdivision thereof that is in federal alternative minimum taxable income. On DR 0104AMT - Computation Schedule, do not enter any amount on line 2 or line 4 that duplicates any income or adjustment made in arriving at federal alternative minimum taxable income. For additional information about calculating Colorado alternative minimum tax, please review FYI Income 14 at Colorado.gov/Tax Ordinarily, you will have a Colorado alternative minimum tax if you have a federal alternative minimum tax. Part-Year and Nonresidents In the case of a nonresident, the Colorado alternative minimum tax shall be apportioned in the ratio of the modified federal alternative minimum taxable income from Colorado sources to the total modified federal alternative minimum taxable income. In the case of a part-year resident, the Colorado alternative minimum tax shall be apportioned in the ratio of the modified federal alternative minimum taxable income applicable to that part of the year the taxpayer was a resident plus the modified federal alternative minimum taxable income from Colorado sources, if any, during that part of the year the taxpayer was a nonresident over the total modified federal alternative minimum taxable income. Adjustments relative to the standard deduction and itemized deductions would be Colorado adjustments to the extent of the Colorado adjusted gross income ratio as determined on line 34 of form DR 0104PN. Other adjustments would be Colorado adjustments to the extent they relate to items of income from Colorado sources. Tax preference items are Colorado items to the extent they relate to a business being carried on in Colorado. Use the worksheet below to calculate the apportionment percentage if you are a part-year resident or nonresident individual. Carry the amount from line 6 of the worksheet to line 6 of the DR 0104AMT. Calculation of Apportionment Percentage Worksheet Do not return this worksheet with your return, submit the form on page 2. Total 1. Amount from line 1 of Federal Form 6251 1 2. Adjustments on Federal Form 6251 relative to itemized deductions 2 3. Other adjustments on Federal Form 6251 3 4. Tax preference items on Federal Form 6251 5. Total of lines 1 through 4, equal to alternative minimum taxable income on line 4 of Federal Form 6251 6. Amount on line 5 in Colorado column divided by amount on line 5 in total column. Use the resulting percentage to apportion the tax calculated on line 6, form DR 0104AMT. 4 5 6 Colorado *190104AM19999* DR 0104AMT (10/15/19) COLORADO DEPARTMENT OF REVENUE Denver CO 80261-0005 Colorado.gov/Tax 2019 Colorado Alternative Minimum Tax Computation Schedule Last Name First Name Middle Initial SSN or ITIN 1. Amount from line 6 Federal Form 6251. If line 5 is larger than line 4, form 6251, enter the amount here Round to the nearest dollar 1 0 0 2. Other additions from line 3, form DR 0104, see instructions on page 1 2 0 0 3. Sum of lines 1 and 2 4. Subtractions from the DR 0104AD excluding the State Income Tax Refund (line 1, DR 0104AD) 3 0 0 4 0 0 5. Subtract line 4 from line 3 6. Amount on line 5 multiplied by 3.47%. In the case of nonresident or part-year resident taxpayer apportioned at: 5 0 0 6 0 0 7 0 0 7. Colorado normal tax from line 7, form DR 0104 % 8. Colorado alternative minimum tax, the amount by which line 6 exceeds line 7 8 Submit this form with your paper form DR 0104, Colorado Income Tax Return, or submit electronically at Colorado.gov/RevenueOnline using the E-file Attachment option. 0 0
More about the Colorado Form 104AMT Individual Income Tax TY 2019
Individual taxpayers are subject to a Colorado alternative minimum tax equal to the amount by which 3.47% of their Colorado alternative minimum taxable income exceeds their Colorado normal tax.
We last updated the Alternative Minimum Tax Schedule in February 2020, so this is the latest version of Form 104AMT, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form 104AMT directly from TaxFormFinder. You can print other Colorado tax forms here.
Other Colorado Individual Income Tax Forms:
|Form Code||Form Name|
|Form 104||Colorado Income Tax Return|
|Form 104PN||Part-Year/Nonresident Computation Form|
|Form DR 0900||Payment Voucher for Individuals|
|Form DR 1778||E-Filer Attachment Form|
|Form 104CR||Tax Credits for Individuals|
Colorado usually releases forms for the current tax year between January and April. We last updated Colorado Form 104AMT from the Department of Revenue in February 2020.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of Colorado Form 104AMT
We have a total of nine past-year versions of Form 104AMT in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
While we do our best to keep our list of Colorado Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.