Form Dr 0104amt - Colorado Alternative Minimum Tax Computation Schedule - 2015
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Alternative Minimum
Tax Instructions for Part - Year and Nonresidents
In the case of a nonresident, the Colorado alternative minimum
to the extent they relate to items of income from Colorado
tax shall be apportioned in the ratio of the modified federal
sources. Tax preference items are Colorado items to the extent
they relate to a business being carried on in Colorado.
alternative minimum taxable income from Colorado sources to
the total modified federal alternative minimum taxable income.
Example:
In the case of a part-year resident, the Colorado alternative
Taxpayers are nonresidents of Colorado. Their federal adjusted
minimum tax shall be apportioned in the ratio of the modified
gross income is $100,000, $9,000 of which is U.S. government
federal alternative minimum taxable income applicable to that part
interest. They have $4,800 of non-Colorado state bond interest.
of the year he was a resident plus the modified federal alternative
Their federal itemized deductions are $31,100, and their federal
minimum taxable income from Colorado sources, if any, during
exemptions are $6,800. $29,000 of their federal adjusted gross
that part of the year he was a nonresident over the total modified
income is Colorado source income. They have federal alternative
federal alternative minimum taxable income.
minimum tax adjustments of $27,100 relating to itemized
deductions. Their tax preference items are $28,000, $24,000 of
Adjustments relative to the standard deduction and itemized
which relate to Colorado activities. Their Colorado alternative
deductions would be Colorado adjustments to the extent of the
Colorado adjusted gross income ratio as determined on line 34 of
minimum tax computation is as follows:
Form 104PN. Other adjustments would be Colorado adjustments
Colorado
Colorado
Total
Portion
Percentage
29,000
1. Federal adjusted gross income
$
100,000 $
2. State Interest addition
4,800
3. Total
104,800 $
29,000
$
4. U.S. Interest subtraction
9,000
5. Modified federal A.G.I.
95,800
30.27%
$
6. Federal itemized deductions
31,100
6,800
7. Federal exemptions
8. Modified federal taxable income
57,900
$
9. Normal tax at 4.63%
2,681
$
10. Prorated at 30.27%
812
$
11. Modified federal taxable income from line 8
57,900 $
17,526
30.27%
$
6,800
2,058
30.27%
12. Exemption addback
13. Modified federal line 36 amount
64,700 $
19,584
$
27,100
8,203
30.27%
14. Adjustments
28,000
24,000
15. Preferences
16. Modified federal alternative minimum taxable income (lines 13, 14 and 15) $
119,800 $
51,787
43.23%
17. Federal alternative minimum tax exemption
69,950
49,850
18. Net
$
19. Alternative Minimum tax at 3.47%
1,730
$
20. Prorated at 43.23%
748
$
812
21. Minus normal tax
236
22. Colorado alternative minimum tax
$
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