Bill > HB1041

This bill aims to streamline the process of filing sales and use tax returns in Colorado. Key provisions include: 1) Requiring home rule cities, towns, and city and counties that collect their own sales and use tax and do not use the state's electronic sales and use tax simplification system to only collect sales and use tax from retailers that have a physical presence in the state, unless the retailer elects to collect and remit the tax or enters into a voluntary collection agreement. 2) Allowing the executive director of the Department of Revenue to permit taxpayers whose monthly tax collected is less than $300 (before 2025), $600 (2025 and after), or a higher amount set by the executive director (2026 and after) to file returns and pay taxes at intervals not greater than every three months. 3) Appropriating $17,200 to the Department of Revenue for the 2024-25 fiscal year to implement the changes in the bill. The bill aims to simplify the sales and use tax filing process, particularly for small businesses, while also addressing tax collection from out-of-state retailers.

Budget and Finance

https://leg.colorado.gov/bills/hb24-1041