Daily Tax Report: State provides authoritative coverage of state and local tax developments across the 50 U.S. states and the District of Columbia, tracking legislative and regulatory updates,...
By Tripp Baltz
The leadership committee of the Colorado General Assembly approved a bill seeking information from contractors about a possible statewide electronic sales and use tax simplification system.
The Legislative Council approved the Sales and Use Tax Simplification Task Force’s recommendation that the draft bill, which would seek information about a system to be used by state and local governments at their discretion, be introduced in the 2018 legislative session beginning in January. The task force made the recommendation in a November report.
Legislators said the bill is a first step in a potential streamlining of Colorado’s system of state and local sales and use taxes, viewed by many companies as among the most complex and complicated in the country.
The bill would direct the state Department of Revenue to issue a request for information about the initial costs and ongoing annual costs, as well as methods for payment by different public or private entities, under an electronic streamlined system.
The department would be required to notify the task force when the request for information has been issued. The task force would then be required to meet within 90 days to consider information received and to determine next steps.
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