Colorado retail businesses have long known that sales taxes are uniquely complex. In Colorado, there are over 70 home rule cities that collect their own sales taxes, in addition to the state and local sales taxes the state of Colorado collects. To add more confusion, as of October, 2022 Colorado has become a “destination sourcing” state, making sales taxes a collection and remittance nightmare.
In this workshop you will find answers to the following questions:
– Does your business need to pay sales tax on purchases?
– Does your business need to collect and remit sales tax on sales?
– What are jurisdictions and home rule cities in Colorado?
– What is “destination sourcing”?
– How do I make sure I am in compliance with CO sales tax regulations?
– How do I calculate correct CO sales tax on a sale?
– Where and how do I remit CO sales taxes?
– Where do I find more information about CO sales taxes?
Teresa Schiel is an Accountant located in Denver, CO specializing in Colorado sales tax collection and remittance. She consults with retailers on how to operationalize sales tax reporting and management and is on the board of the Simplify Colorado Sales Tax Coalition.