Form Dr 0078 - Application For Extended Enterprise Zone Tax Credits In Terminated Enterprise Zone Area Page 3
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4dr 0078 instructions
A taxpayer may request an extension of enterprise zone tax credits in:
• a terminated enterprise zone area for up to 10 tax years, and
• a terminated enhanced rural enterprise zone area for up to 5 years
following the termination year. The taxpayer must jointly certify with the zone administrator
that plans were in place for job creation, investment in job training programs, or capital
expansion before the announcement of the zone termination. Detailed business planning
documentation supporting the planned investment and job increases must be kept with your
tax records and supplied to the zone administrator or the Department of Revenue upon
request. [C.R.S. 39-30-103(6)(a)]
Submit this form and a summary of the business plan to the local enterprise zone
administrator. Upon review and approval, the zone administrator will sign the certification
form and return it to the mailing address provided.
Retain the certified form with your tax records. For any year in which credits are earned and
claimed the form must be updated and, along with Form DR 0074, submitted to the local
enterprise zone administrator for certification. The zone administrator will return the certified
forms to be filed with your Colorado income tax return.
Extended credits are available only to the taxpaying entity that existed in the enterprise
zone and filed the application for the extended credits. There is no provision for the transfer
of those credits to a subsequent related entity.
Nothing in this certification shall be construed to grant tax benefits that have been repealed
by the general assembly or to grant tax benefits in excess of the limits established by
law.
section iv: When first filing this form to request certification, information is required
for each tax credit that is expected to be claimed during the extended credit period.
Provide the cumulative total of the amount of investment, job training program expenditures,
or number of NBF employees that will qualify for the credit and the cumulative total of
the anticipated tax credits over the next five or ten year extension period. If the five-year
extension is claimed for the enhanced rural enterprise zone credit, write "enhanced" after
the name of the credit.
When preparing your tax return each year during the five or ten year extended period,
provide the tax year and the amount of the credit that is actually claimed during that year
in the boxes provided below each credit. The cumulative total of each tax credit claimed
during the extension period can not exceed the amount originally certified in the cumulative
total column.
additional information
colorado department of revenue
Denver, CO 80261-0005
Phone 303-238-SERV(7378)
Colorado Office of Economic Development
1625 Broadway, Suite 2700
Denver, CO 80202
Phone 303-892-3840
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Form Dr 0078 - Application For Extended Enterprise Zone Tax Credits In Terminated Enterprise Zone Area
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