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Colorado Year End Tax Update: Focus on USE TAX – 50 Points of Light

It is that time of year again where we work ourselves into a tizzy finishing off the year "strong" and simultaneously enduring another holiday season whilst purportedly planning for a new year. YIKES! With internet sales exploding it is a

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Posted in Colorado Department of Revenue, Colorado Income Tax, Sales Tax, Uncategorized, Use Tax

Colorado Sales Tax on Vacation Rentals

If you rent a house or condominium to someone for less than 30 days in Colorado it is likely sales tax is owed on that rental. There may also be other taxes owed as well including line items for a

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Posted in Rental Real Estate, Sales Tax

Colorado Vendor’s Fee Reinstated at 2.22%

The Colorado state Vendor's Fee also known as the sales tax Service Fee has been restored at 2.22%. The fee may be claimed on timely filed and paid Colorado sales tax returns submitted on or after July 1, 2011 beginning with

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Posted in Colorado Department of Revenue, Sales Tax, Use Tax

New Colorado Sales, Use, Withholding tax accounting system

The Colorado Department of Revenue is developing the next phase of our new accounting system which includes sales, use and wage withholding taxes. They will begin to use the new system when we process September 2010 filing period returns, which

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Posted in Colorado Department of Revenue, Sales Tax, Use Tax

Colorado Sales/Use tax exemptions eliminated/suspended

Recent legislative changes have eliminated the state sales and use tax exemption for certain items. These changes were developed by state lawmakers to help balance Colorado’s budget. The legislation has no effect on items that are either currently taxable or

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Posted in Colorado Department of Revenue, Sales Tax, Use Tax

State Taxation of Marijuana

Robert Mikos (Vanderbilt) has posted Why Crime Doesn't Pay: Thoughts on State Taxation of Marijuana Distribution and Other Federal Crimes on SSRN. Here is the abstract: The financial crisis has breathed new life into proposals to reform marijuana law. Commentators

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Posted in Sales Tax, Uncategorized

New Vehicle Sales and Excise Tax Deduction

If you bought a new vehicle in 2009, you may be entitled to a special tax deduction for the sales and excise taxes on your purchase. Here are eight important facts the Internal Revenue Service wants you to know about

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Posted in Sales Tax

Car Sales Tax Deduction for 2009 Only

People who buy a new car, motorcycle, truck or other vehicle can deduct the entire amount of sales tax paid (up to the first $49,500 of purchase price) either as an itemized deduction or as an addition to their standard

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Posted in Sales Tax

Tax on sales of human body parts

It may seem ghoulish, but there does seem to be a controversy brewing over the appropriate tax treatment of sales of anatomical specimens such as human eggs and blood plasma, and even black market sales of kidneys and other vital

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Posted in Sales Tax
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