Funds for old age pensions. — Colorado Code § 26-2-113

§ 26-2-113. Funds for old age pensions.

(1) The state old age pension fund and the moneys allocated thereto pursuant to the provisions of article XXIV of the state constitution shall include amounts received from the incorporation fees and inheritance taxes imposed pursuant to subsection (2) of this section.

(2) (a) In addition to all other fees, charges, and impositions now fixed by law, there shall be assessed and collected, by the governmental department, person, or party in charge under whose jurisdiction the present collection is now required by law, the following fees, charges, sums, and impositions, which fees, charges, sums, and impositions shall be set aside, allocated, and allotted to the old age pension fund:

(I) Ten percent additional amount of the fees which are due and paid to the secretary of state upon incorporation of any corporation or association for profit; and

(II) Ten percent additional upon the amount of any tax payable under the provisions of the inheritance tax laws of this state.

(b) In computing the amount of the additional tax or fee as provided in paragraph (a) of this subsection (2), the nearest multiple to five cents shall be taken in all cases.

(3) Any and all of such funds collected by any state official or state department pursuant to subsection (2) of this section shall be paid over by such official or department to the state treasurer, who on the first day of each month shall divide and pay the same into each of the county old age pension accounts of the county social services funds in this state on the pro rata basis which the population of the respective county has to the population of the entire state according to the last official United States census.

Source: L. 73: R&RE, p. 1187, § 2. C.R.S. 1963: § 119-3-13.

ANNOTATION

Law reviews. For article, "Federal and Colorado Death and Gift Taxes: A Comparison", see 35 Dicta 105 (1958).

Constitutionality. This section does not violate the "due process", "equal protection", and "uniformity" clauses of the constitution. In re Hunter's Estate, 97 Colo. 279, 49 P.2d 1009 (1935).

Where 85 percent of certain revenue has been allocated by constitutional amendment to the old age pension fund, whatever constitutional prohibition, if any, theretofore existed as to the places of business producing that revenue, is suspended until a substitute revenue is provided. Golden v. People ex rel. Baker, 101 Colo. 381, 74 P.2d 715 (1937).

Subsection (2)(a)(II) tax valid. The tax imposed by subsection (2)(a)(II) is an additional, not a separate and distinct, tax to that provided by the inheritance tax laws. In re Hunter's Estate, 97 Colo. 279, 49 P.2d 1009 (1935).

The tax imposed by subsection (2)(a)(II) is not vulnerable to the objection that it lays an additional tax to that already authorized without amending the existing law. In re Hunter's Estate, 97 Colo. 279, 49 P.2d 1009 (1935).