Colorado Seeks to Simplify Sales and Use Tax System

Wednesday, March 7th, 2018

 
 
Colorado State Capitol Building.
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Colorado
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The Colorado Legislature recently passed a bill directing the Colorado Department of Revenue (DOR) to research an electronic sales and use tax simplification system.

The bill states that the system should provide (1) accurate address information so that retailers can determine the correct taxing jurisdiction for their sales, (2) a single application process for state and local tax licenses, (3) a uniform sales and use tax remittance form, (4) a single point of remittance for state and local sales and use tax, and (5) a matrix showing taxable and exempt items.

The bill requires the DOR to (1) identify initial costs for the system; (2) explain how the system could interface with accounting systems used by retailers; (3) allow for various payment options to pay for the cost of the system; (4) anticipate that sales and use tax rates may change, and maintain a history of those changes; and (5) anticipate that local jurisdictional boundaries may change over time, and maintain a history of those changes.

https://www.ttrus.com/Colorado Seeks to Simplify Sales and Use Tax System


About TTR

Transaction (buying or selling things), Tax (the tax on this activity), Resources (our people, our website, our support services) - TTR, Inc.

TTR has a website that companies subscribe to and use daily. This website provides a list of everything that can be bought or sold in the U.S. It provides simple answers to whether buying or selling these items is taxable (subject to a sales tax or other tax), and it provides all the legal authority to support these tax answers.

TTR likes to keep things simple and fun, which is why it has great people who provide help to clients on any support questions they have about transaction tax issues.

Please visit TTR on the web at www.ttrus.com or call 866.578.8193.

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