Colorado OKs Tax Relief for Hurricane-Affected Residents
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Colorado Gov. Jared Polis has approved special tax relief for residents who live part time or have businesses in seven Southern states affected by hurricanes Helene and Milton.
“We want to ensure that Coloradans impacted by these terrible storms, who are part-time Alabama, Florida, Georgia, North Carolina and South Carolina, and parts of Tennessee and Virginia residents or who have property or business there, have the support and relief they need during this challenging time,” Polis announced Oct. 18.
The Colorado Department of Revenue will allow affected taxpayers until May 1 to file individual and business tax returns and make payments. Sales tax licensees meeting this deadline will be considered timely and eligible for applicable vendor fees.
“Tax deadlines should be the last thing that families impacted by these natural disasters are worried about,” Polis said. “This relief will help allow families to prioritize their safety and recovery from these storms without being unnecessarily penalized for missing a deadline.”
Polis
The relief applies to Colorado residents and businesses with qualifying connections to these disaster areas.
Taxpayers who received automatic extensions for their 2023 returns to Oct. 15, 2024, now have until May 1, 2025, to file. However, this extension doesn’t waive penalties and interest on tax payments that were due April 15, 2024.
The relief postpones any tax deadlines falling between Sept. 23, 2022, and Feb. 15, 2023, to May 1, 2025.
The state’s action mirrors federal relief provided by the IRS. However, the deadline waiver isn’t automatic — affected taxpayers must call the Department of Revenue Monday through Friday between 8 a.m. and 4:30 p.m. to request the extension after receiving a bill.
The relief doesn’t apply to home-rule jurisdictions that collect their own taxes. Colorado will honor Florida’s interest waivers for affected International Fuel Tax Agreement motor carriers if payments arrive by the extension deadline.
Colorado has also provided emergency support to affected states, including deploying National Guard helicopters, emergency management teams, and urban search-and-rescue personnel to multiple locations.
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