Colorado Credits - for Corporations
Extracted from PDF file 2016-colorado-form-112-cr.pdf, last modified September 2016
Credits - for Corporations*160112CR19999* Form 112CR (09/21/16) COLORADO DEPARTMENT OF REVENUE Form 112CR 2016 Credit Schedule for Corporations Submit the following information with your tax return • Use this schedule to determine which tax credits you are eligible to claim. • Be sure to submit the required supporting documentation for each credit. • Most e-file software products and tax preparers have the ability to submit this schedule and attachments electronically. Revenue Online can also be used to file your return and attachments electronically. Otherwise, attach all required documents to your paper return. • Dollar amounts shall be rounded to the nearest whole dollar. Calculate percentages to the second decimal place. Name of Corporation Colorado Account Number Pass-through Entity Name Ownership % Entity Account Number Enter in Section (A) the total credit generated in 2016 and any carryforward credit that is available from a prior year. Enter in Section (B) the portion of the credit in Section (A) that is being used to offset tax in 2016. If Section (A) is larger than Section (B) and the credit can be carried forward to future years, enter the carryforward amount on line 27. 1. Tax liability from line 18, Form 112 A. The New Investment Tax Credit 1 Section (A) 2. $1,000 minus amount on line 7 2 3. Current year qualified investment 3 4. 1% of the amount on line 3 4 5. New investment tax credit carried over from prior year 5 6. Enter in Section (A) the total of lines 4 and 5. Enter in Section (B) the lesser of the amount in Section (A) or the amount on line 2 6 B. Other Credits 7. Old investment tax credit 7 8. Crop and livestock contribution credit 8 9. Historic property preservation credit 9 10. Child Care Contribution credit, submit form(s) DR 1317 10 11. Child care center/family care home investment credit 11 12. Employer child care facility investment credit 12 13. School-to-Career investment credit 13 14. Colorado works program credit 14 15. Contaminated land redevelopment credit from line 9 of form DR 0349 15 16. Aircraft manufacturer new employee credit 16 Section (B) *160112CR29999* Form 112CR (09/21/16) COLORADO DEPARTMENT OF REVENUE Name Account Number Section (A) 17. Colorado Job growth incentive credit 17 18. Certified auction group license fee credit 18 19. Advanced Industry Investment credit 19 Section (B) 20. Low-income housing credit, submit CHFA certification 20 21. Credit for food contributed to hunger-relief charitable organizations, submit form(s) DR 0346 21 22. Preservation of Historic Structures credit (attach certificate from Office of Economic Development) 22 23. Unused current year Preservation of Historic Structures credit, subtract line 22 Section B from line 22 Section A 23 24. Amount of Preservation of Historic Structures credit transferred (attach written transfer agreement submitted to Office of Economic Development) 24 25. Amount of Preservation of Historic Structures credit carried forward, subtract line 24 Section A from line 23 Section A 25 26. Rural Jump Start Zone credit (attach certificate from Office of Economic Development) 26 27. Total nonrefundable credits, add amounts from lines 6 through 22 and line 26. Enter here and transfer column B to Form 112, line 19 27 Limitation: The total credits entered on line 27 on this Form 112CR may not exceed the tax on line 1. Most unused portion(s) of the credits on this form [the difference between the amounts in Section (A) and Section (B)] for each line may be carried forward to the next income tax year. Please list any credits to be carried forward to tax year 2017 below. 28. Credits to be carried forward to 2017, include the amount on line 25 Section A 28
Form 112 CR
More about the Colorado Form 112 CR Corporate Income Tax Tax Credit
We last updated the Credits - for Corporations in May 2017, and the latest form we have available is for tax year 2016. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Colorado Department of Revenue. You can print other Colorado tax forms here.
Other Colorado Corporate Income Tax Forms:
|Form Code||Form Name|
|Form DR 0617||Innovative Motor Vehicle Credit|
|Form DR 1366||Enterprise Zone Credit and Carryforward Schedule|
|Form DR 5714||Copy of Form Filed, Request for|
|Form 106||Partnership/S-Corporation Booklet|
|112 Booklet||C-Corporation Income Tax Return|
Colorado usually releases forms for the current tax year between January and April. We last updated Colorado Form 112 CR from the Department of Revenue in May 2017.
Form 112 CR is a Colorado Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Colorado Form 112 CR
We have a total of four past-year versions of Form 112 CR 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.