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Committee advances bill to decouple Colorado from federal FDII deduction and add tax‑haven jurisdictions
Summary
House Appropriations voted 7-4 to send HB25B-1002 forward; the bill would decouple Colorado from the federal foreign‑derived intangible income (FDII) deduction and add five jurisdictions to Colorado
Representatives Zocai and Marshall presented House Bill 25B-1002 to the House Appropriations Committee as part of the legislature response to recent federal tax changes. The bill would (1) decouple Colorado from the federal FDII (foreign derived intangible income) deduction and (2) expand Colorado list of presumed tax‑haven jurisdictions by adding Hong Kong, Ireland, Liechtenstein, the Netherlands and Singapore.
Rationale: sponsors said Colorado uses "rolling conformity" with federal taxable income, meaning many federal tax breaks automatically flow into Colorado law and reduce state revenue. Representative Zocai told the committee that FDII allows…
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