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Legislative Year: 2023 Change

Bill Detail: HB23-1275

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Title Modification Of The Film Production Incentive
Status Governor Signed (06/01/2023)
Bill Subjects
  • Fiscal Policy & Taxes
House Sponsors W. Lindstedt (D)
R. Weinberg (R)
Senate Sponsors D. Roberts (D)
House Committee Finance
Senate Committee Finance
Date Introduced 03/30/2023

Section 1 of the bill modifies the definition of qualified local
expenditure for purposes of the performance-based incentive for film
production in Colorado to include payment by a production company to
a personal services corporation to pay the wages or salaries of an
employee-owner of the personal service corporation. Personal service
corporation and employee-owner of a personal service corporation
have the same meaning as set forth in the internal revenue code. A
payment by a production company to a personal service corporation is a
qualified local expenditure only if the production company documents the
payment in an information income tax return and payments in excess of
$1 million per calendar year per personal service corporation are excluded
from the calculation of the performance-based incentive.
Section 2 adds the information income tax return requirement for
production companies to state income tax law and specifies that a
production company is generally not required to deduct and withhold state
income tax from a payment to a personal service corporation for services.
However, if the information return fails to provide a taxpayer
identification number for the personal service corporation that can be
validated through the taxpayer identification number matching program
administered by the internal revenue service, or provides a taxpayer
identification number issued for a nonresident alien, then such deduction,
withholding, and payment of state income tax to the department of
revenue is required.
Section 2 also eliminates the withholding exemption for a payment
to a nonresident individual who performs services in connection with a
film production for less than 120 days in a calendar year.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (07/27/2023) (most recent)  
Additional Bill Documents Bill Documents
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