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The Colorado Partnership Return Form 106 must be filed by every partnership doing business in Colorado or with Colorado-sourced income. The due date is April 15 for calendar year partnerships. Key requirements include: Attach a complete copy of the federal Form 1065, including K-1s, to the Colorado Form 106.

Colorado Income Tax Colorado law excludes from Colorado state income tax total pension income up to $20,000 per year per person for those retirees age 55 through 64, or $24,000 for those retirees age 65 and over. The retiree's age on December 31 is used to determine the exclusion amount for that year.

Resident Estates and Trusts Every resident estate and resident trust with Colorado-source income must file a Colorado Fiduciary Income Tax Return if it is required to file a federal income tax return, or if a resident estate or trust has a Colorado tax liability.

Easy to establish: Similarly to establishing a sole proprietorship, you don't need to file any forms with the state to start a general partnership; you only need a verbal agreement with your partners. Setting up a general partnership is relatively inexpensive because you don't have to file paperwork.

How to Write a Partnership Agreement Define Partnership Structure. Outline Capital Contributions and Ownership. Detail Profit, Loss, and Distribution Arrangements. Set Decision-Making and Management Protocols. Plan for Changes and Contingencies. Include Legal Provisions and Finalize the Agreement.

A partnership (also known as a "general partnership") is an informal business structure consisting of two or more people. You don't have to file paperwork to form a partnership—you create a partnership when you agree to go into business with another person.

DR 0106 - Partnership and S Corporation Tax Return (form only) Any partnership or S corporation must file a DR 0106 for any year it is doing business in Colorado. A partnership or S corporation is doing business in Colorado whenever it meets the criteria set forth in Rule 39 22-301(1).

For tax years 2022 and later, every partnership and S corporation is required to complete a Colorado K-1 (DR 0106K)(opens in new window) for each of its partners or shareholders for each tax year.

This involves several steps: Get a federal tax ID# from the IRS. File IRS form 8832 to choose an entity election as a corporation. File an S corporation election form (IRS form 2553) Amend your operating agreement to allow for the new taxation rules (or, if you don't have one at all, CREATE an operating agreement).