Colorado Form 104AMT

What Is Colorado Tax Form 104AMT

Colorado Tax Form 104AMT is a tool for calculating the Alternative Minimum Tax (AMT) for state residents. AMT ensures that taxpayers with substantial income cannot excessively reduce their tax liability through credits and deductions. This form is employed when individuals have adjustments and preference items that affect their state tax owed. This tax form applies to Colorado residents and ensures that taxpayers contribute baseline taxes to state coffers.

How To Fill Out Colorado Form 104AMT Instruction

To fill out the Colorado Form 104AMT for Alternative Minimum Tax (AMT), follow these steps:

Calculate Colorado Alternative Minimum Taxable Income: Start with your federal AMT income. Add or subtract any Colorado-specific adjustments.

Compute AMT: Determine any subtractions from Colorado income (excluding State Income Tax Refund and interest paid by the State of Colorado).

Calculate the Tax: Multiply the result by 3.47% to compute the AMT.

Compare with Regular Tax: If AMT is higher than the regular tax, the difference is your Colorado AMT. If applicable, use the apportionment percentage worksheet to calculate the portion of AMT attributable to Colorado income.

Attach Form 104AMT with your Colorado Income Tax Return or submit it electronically.

How to Submit Form 104AMT Colorado

Once you have completed the Colorado Form 104AMT, you have two primary options for submission:

E-filing:

Generally, the fastest and most secure way to submit your Colorado Form 104AMT is through an electronic filing service approved by the Colorado Department of Revenue. This allows for swift processing and acknowledgment of receipt.

Mailing:

If you are unable or prefer not to e-file, you may also mail the form to the designated address for the