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The law change you appear to refer to is:
"Colorado is Honoring Our Military Exemption
(Colorado is HOME) Act". It was signed by the governor on 5/27/2015 and is effective for tax years beginning after 1/1/2016. It is for active duty military whose home of record is Colorado and whose state of legal residence commencing on or after January 1, 2016, is a state other than Colorado, may reacquire legal residence in the state, regardless of whether the individual has a physical presence in the state, if the individual intends to make Colorado his or her state of legal residence.
Evidence of an intent to make this state an individual's state of legal residence must include one or more of the following:
Registering to vote in the state;
Purchasing residential property or an unimproved residential lot in the state;
Titling and registering a motor vehicle in the state;
Notifying the state of the individual's previous legal residence of the intent to make Colorado their state of legal residence;
Preparing a new last will and testament that indicates Colorado as the individual's state of legal residence.
This new law is incorporated into Turbo Tax for 2016, the year it became effective.
Per the Colorado Department of Revenue, this new law does not apply to active duty military whose home of record and legal residence are both Colorado prior to January 1, 2016.
The law change you appear to refer to is:
"Colorado is Honoring Our Military Exemption
(Colorado is HOME) Act". It was signed by the governor on 5/27/2015 and is effective for tax years beginning after 1/1/2016. It is for active duty military whose home of record is Colorado and whose state of legal residence commencing on or after January 1, 2016, is a state other than Colorado, may reacquire legal residence in the state, regardless of whether the individual has a physical presence in the state, if the individual intends to make Colorado his or her state of legal residence.
Evidence of an intent to make this state an individual's state of legal residence must include one or more of the following:
Registering to vote in the state;
Purchasing residential property or an unimproved residential lot in the state;
Titling and registering a motor vehicle in the state;
Notifying the state of the individual's previous legal residence of the intent to make Colorado their state of legal residence;
Preparing a new last will and testament that indicates Colorado as the individual's state of legal residence.
This new law is incorporated into Turbo Tax for 2016, the year it became effective.
Per the Colorado Department of Revenue, this new law does not apply to active duty military whose home of record and legal residence are both Colorado prior to January 1, 2016.
GinnyF,
So, if I can provide my vehicle registration from Montana dated 2016 and proof I purchased a residential property in Colorado dated 2017, then this tax exemption would apply to me, right? My HOR was Colorado but state of residency was Montana in 2016, so I think I'd be good.
Thoughts?
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