Sales/Use/Indirect:
Colorado: New Law Seeks to Streamline State and Local Sales and Use Tax Filing Processes
H.B. 1041, signed by gov. 4/4/24. New law provides that Colorado “home rule” taxing jurisdictions/localities that do not use Colorado’s sales and use tax simplification system (SUTS) – that is, Colorado’s electronic sales and use tax simplification system administered by the Colorado Department of Revenue (Department) [see H.B. 1017 (2023), and State Tax Matters, Issue 2023-24, for more details about the SUTS system] – cannot collect sales and use tax from a retailer that does not have an in-state physical presence, unless the retailer elects to collect or remit sales tax or enters into a voluntary collection agreement with the jurisdiction/locality. Beginning January 1, 2025, the new law also allows the Department to permit taxpayers that collect less than $600 in sales or use tax per month to file no more than once every three months (currently, such threshold is $300 per month); additionally, beginning January 1, 2026, the Department is authorized to increase this dollar threshold. Please contact us with any questions.
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