Taxation Chapter - Annual Survey 2011 Out of Stock
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Title: 2011 Annual Survey of Law
Chapter: Taxation
Chapter: Taxation
Author: Norman H. Wright
Format: Electronic Download
The 2011 Annual Survey of Colorado Law is written by top lawyers in their fields and covers many of the most critical areas of Colorado law and practice. The Annual Survey is an important resource to help you stay current with legal updates and trends.
Want CLE Credit while getting the current updates? Norman Wright did a one hour presentation on Tax: 2011 Annual Survey of Colorado Law. Order the MP3 Download or Video On-Demand of the recorded program.
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CBA-CLE - Your Connection to Colorado Law
The Colorado Supreme Court decided two cases related to state taxation. One reversed a Colorado Court of Appeals’ decision that had remanded a BAA proceeding involving a petition for abatement and refund of property taxes in which the taxpayer had over-reported its asset valuation due to false accounting entries made by certain employees within the company. The second case arose under TABOR and involved a determination made by the Executive Director of Revenue regarding the application of a statutory formula to determine the severance tax rate applicable to coal that resulted in an increase in the tax rate.
In separate sales tax cases, a division of the court of appeals held that a city sales tax is not due upon reimbursements made to providers when copies of medical records are procured by attorneys from a healthcare provider as part of civil litigation involving the patient.
Another division of the court reversed a decision by the Executive Director of Revenue against the taxpayer, holding that electricity is tangible personal property
qualifying the generator of that electricity for sales tax exemptions for manufacturing equipment. In three property tax cases, divisions of the court of
appeals held that the BAA must trend comparable sales transactions to the last day of the base period in order to properly determine actual value. Another division of the court held that in order to qualify for land to be classified as an agricultural use, it must be used for some qualifying agricultural purpose during the calendar year.
Lastly, a division of the court held that telephone companiesand cable entertainment companies could be treate ddifferently with regard to how the actual value of theirrespective property values could be determined.In a decision involving unemployment insurancetaxes, the court upheld an administrative determinationthat truck drivers engaged by the employer-truckin gcompany were employees, not independent contractors.In the legislative arena there were numerous bills,including several bills that reversed parts of Governor Ritter’s 2010 tax package, including the controversial provision on software. In the sales tax area there were changes to exemptions available for medical equipmentand prescriptions written by non-physicians, and thereduction of the vendor’s fee was extended for two more years. In the income tax area, there were several procedura lchanges but no significant measures affecting thegreat majority of taxpayers. In the property tax field, theincome that could be realized by qualified charitable entities was increased before they lost exemptions, procedures before the BAA were modified, and destruction of a residence would not result in losing the residential classification for up to five years provided the owner tooksteps to rebuild.
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