Colorado Sales Tax 201
August 20 @ 11:00 am - 12:00 pm
Colorado Sales Tax 201
Date: August 20
Time: 11 AM
Location: Online
In Colorado a single sale can be taxed by the state, the county, the city, and sometimes a special district all at once, and there’s a specific code that tells you exactly which of those apply to your sale – get it wrong, and you end up collecting and paying the wrong amount to the wrong places.
It also helps to know that not all your revenue is taxable: what you sell in total (gross sales) and what actually gets taxed (taxable sales) are two different numbers, and certain sales can be excluded or reduced through exemptions and deductions, as long as you can document them.
In this intermediate workshop, we will discuss:
- Reviewing Colorado state and local sales tax returns and what information is required
- Comparing your POS and accounting reports to the sales tax return. Why don’t they match?
- What a Jurisdiction Code is and why it is important
- How to find the correct Jurisdiction Code
- What you collected vs. what you owe
- Gross sales vs. Taxable sales, Exemptions and Deductions
- Q&A
