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COLO. DEPT. OF REVENUE v. CRAY COMPUTER

No. 99SC367.

18 P.3d 1277 (2001)

COLORADO DEPARTMENT OF REVENUE; and Fred Fisher, in his official capacity as Executive Director of the Colorado Department of Revenue, Petitioners, v. CRAY COMPUTER CORPORATION; and Terry Willkom, in his official capacity as Liquidating Trustee of Cray Computer Corporation, Respondents.

Supreme Court of Colorado, En Banc.

March 5, 2001.

Attorney(s) appearing for the Case

Ken Salazar, Attorney General, Neil L. Tillquist, Assistant Attorney General, Business and Licensing Section, Denver, CO, Attorneys for Petitioner.

Holland & Hart, LLP, Alan Poe, David Butler, Greenwood Village, CO, Attorneys for Respondent.

Justice BENDER delivered the Opinion of the Court.

I. INTRODUCTION

This appeal requires us to construe the sales tax exemption under the "Urban and Rural Enterprise Zone Act,"1 for the purchase of used machinery for use in an enterprise zone. We hold that a taxpayer may receive an exemption for only $150,000 of the purchase price.

We briefly explain a few basic tax terms and concepts that are central to this dispute....

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