1. TAX-AIDE Whats New: Colorado (Draft) Child Care Tax Credit Expansion Marijuana Business Expenditure Calculation

2. TAX-AIDE Colorado Child Care Tax Credit ● If you did not file a federal income tax return, you may still be eligible for the Low Income Child Care Expenses credit. To claim the low income credit, you must complete and submit with your Colorado return, federal form 1040 and 2441. NTTC – PowerPoint Guidelines2

3. TAX-AIDE Colorado Child Care Tax Credit ● Fed Form 1040, 2441 ● Colorado Form DR 0347 ● Colorado Form 104CR NTTC – PowerPoint Guidelines3

4. TAX-AIDE Colorado Child Care Tax Credit New Provision ● Even if there is no Federal Tax due, Colorado will allow a credit based on a new low income Table B on DR 0347 ● After all forms filled out, amount from form 104CR will be placed on line 32 “Refundable Credits” on CO form 104 NTTC – PowerPoint Guidelines4

5. TAX-AIDE Colorado Child Care Tax Credit ● All child care credit forms filled out are to be included with Colorado return ● May require paper filing unless all Colorado forms available on Tax Wise NTTC – PowerPoint Guidelines5

6. TAX-AIDE Colorado 104, Line 16 Colorado-Licensed Marijuna Business Retail business or cultivators selling within the confines of their industry NTTC – PowerPoint Guidelines6

7. TAX-AIDE Line 16 Deduction ● Schedule C under Federal Guidelines ● Schedule C with normal expenses ● Difference is line 16 Deduction ● Both schedules need to be submitted NTTC – PowerPoint Guidelines7

8. TAX-AIDE Colorado: Property Tax Credit ● SB 14-014 established minimum PTC ● Final draft will contain new thresholds and credit calculations ● Makes more people eligible for credits NTTC – PowerPoint Guidelines8