Form DR1366 Enterprise Zone Credit and Carryforward Schedule - Colorado

What Is Form DR1366?

This is a legal form that was released by the Colorado Department of Revenue - a government authority operating within Colorado. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form DR1366?
A: Form DR1366 is the Enterprise Zone Credit and Carryforward Schedule used in Colorado.

Q: What is the Enterprise Zone Credit?
A: The Enterprise Zone Credit is a tax incentive program in Colorado that provides tax credits to businesses located in designated enterprise zones.

Q: What is the purpose of Form DR1366?
A: The purpose of Form DR1366 is to calculate and report the amount of Enterprise Zone Credits earned by a business, as well as any unused credits that can be carried forward to future tax years.

Q: Who needs to use Form DR1366?
A: Businesses that qualify for the Enterprise Zone Credit in Colorado need to use Form DR1366 to claim and report their credits.

Q: How do I qualify for the Enterprise Zone Credit?
A: To qualify for the Enterprise Zone Credit, a business must be located within a designated enterprise zone and meet certain criteria outlined by the Colorado Department of Revenue.

Q: Can I carry forward unused credits to future tax years?
A: Yes, you can carry forward any unused Enterprise Zone Credits to future tax years, as long as you continue to meet the eligibility requirements.

Q: When is the deadline to file Form DR1366?
A: The deadline to file Form DR1366 is the same as the deadline to file your Colorado income tax return, which is typically April 15th of each year.

Q: Are there any penalties for not filing Form DR1366?
A: Yes, failing to file Form DR1366 or incorrectly calculating the Enterprise Zone Credits can result in penalties and interest charges.

Q: Can I amend my Form DR1366?
A: Yes, if you need to make changes to your previously filed Form DR1366, you can file an amended schedule using Form DR0112X.