Tax Shelters: Colorado - New rules on reportable & listed transaction disclosure provisions

New Regulations Sections. 39-22-652, -653, and -656, Colo. Dept. of Revenue (eff. 3/30/10). Colorado department of taxation has issued new regulations to help implement legislation enacted during 2009 that requires:

- Taxpayers to disclose participation in reportable and listed transactions, and

- Material advisors to disclose reportable and listed transactions and maintain a list of persons advised with respect to such transactions.