Categories
Colorado State Publications Blog

Colorado Sales Tax Changes

Changes to the laws about how sales tax is collected in Colorado went into effect on December 1. These changes affect many small businesses in Colorado. The new laws require retailers who ship taxable products to consumers in Colorado to base the sales tax collected on the buyer’s address, not the seller’s. This gets complicated, […]

Categories
Colorado State Publications Blog

Fiscal Impacts of Ballot Measures

How will this year’s ballot measures affect state taxes and spending if passed? While much of this information is detailed in the Blue Book, the Colorado Legislative Council has also issued fiscal impact statements for each ballot measure. These statements include more detailed analysis of each measure’s fiscal impact, including tables and side-by-side comparisons of […]

Categories
Colorado State Publications Blog

Time Machine Tuesday: Income Tax Statistics

Income tax filing season has arrived.  How do today’s incomes compare with those in the past?  It’s hard to believe that just forty years ago the average annual household income in Colorado was only $13,214! In 1977 the Colorado Legislative Council issued their tax study Colorado Statistics of Income: Individual Income Tax Returns, Fiscal Year […]

Categories
Colorado State Publications Blog

Understanding Colorado School Finance

As one of the largest portions of our state budget, school finance is something that the Legislature keeps close tabs on.  There have already been a number of school finance bills introduced in the first month of the 2018 session. Because of the number of laws that govern school finance in Colorado, such as the […]

Categories
Colorado State Publications Blog

Historic Preservation Tax Credits

This month’s Colorado Heritage magazine contains a Q & A about historic preservation tax credits in Colorado. These credits, both state and federal, are designed to encourage property owners to repair, renovate, and preserve historic buildings by helping them save money on their taxes.  In our library we have a number of resources that explain […]

Categories
Colorado State Publications Blog

Preventing Identity Theft When Filing Your Taxes

Tax season has arrived, and filing your taxes requires the disclosure of a significant amount of personal information — making it a target for thieves who want to steal your identity, or your refund.  The Colorado Department of Revenue has issued some helpful tips, reproduced below, to heighten awareness and help protect yourself during tax […]

Categories
Colorado State Publications Blog

Department of Revenue Annual Report

The Colorado Department of Revenue has just released its 2016 Annual Report.  This annual report is one of the most useful and robust statistical reports published by the State.  In the report you can find numbers on such topics as: MOTOR VEHICLES Titles and registrations Emissions Licenses issued Permits issued  Numbers of licenses in force, […]

Categories
Colorado State Publications Blog

Marijuana Taxes

How much money is Colorado receiving from taxation of retail marijuana?  And where does the money go? The Colorado Department of Revenue provides answers to the first question.  Their Marijuana Tax Data webpage includes monthly sales tax collection by county, a data archive, and total number of taxes, fees, and licenses in Colorado.  They also […]

Categories
Colorado State Publications Blog

Time Machine Tuesday: Property Tax

Unlike income tax, Colorado has had a property tax since the state was founded — provisions for a property tax were made in the original state constitution.  In 1877 and 1899 the Legislature tweaked the property tax laws to equalize values.  Then in 1902, a major property tax law was passed, resulting from the significant […]

Categories
Colorado State Publications Blog

Sales Tax Information for Businesses

If you are selling goods in the State of Colorado your business is required to have a sales tax license (sometimes known as a vendor license).  This license, through the state Department of Revenue, is required for the collection and distribution of sales tax revenue.  The Department of Revenue has set up a helpful webpage […]

Categories
Colorado State Publications Blog

TABOR Refund

Article X, Section 20 of the Colorado Constitution is the Taxpayer’s Bill of Rights, often referred to as TABOR, and was approved by voters in 1992.  One of the elements of TABOR is the TABOR refund, which goes back to taxpayers if revenue exceeds the state spending limit, as calculated by a formula in TABOR.  […]

Categories
Colorado State Publications Blog

Answers to Common Tax Questions

2014 W-2s are headed to a mailbox near you, so it’s time to start preparing for tax season.  The Colorado Department of Revenue has set up a helpful webpage with quick answers to many of the most common tax questions, with special reference to Colorado’s specific tax laws.  Here you can find information on such […]

Categories
Colorado State Publications Blog

Understanding Property Taxation in Colorado

The Colorado Department of Local Affairs’ Division of Property Taxation publishes a series of brochures about property taxation in Colorado.  These easy-to-understand brochures cover such topics as property valuation and taxation for residential, commercial, and agricultural properties; property tax exemptions and rebates for seniors, the disabled, and military/veterans, and more.  Check our library’s web catalog for previous […]

Categories
Colorado State Publications Blog

Taxes

If you haven’t filed your taxes yet, you’d better hurry!  Tax day is tomorrow.  You can find all the resources you need on the Colorado Department of Revenue’s website — including tax forms, information on refunds, answers to common questions, updates on tax legislation, videos and fact sheets, tax filing information for flood victims, a tax […]

Categories
Colorado State Publications Blog

New Version of the Backseat Budgeter

This fall Colorado State University released a new version of their interactive tool, Colorado Backseat Budgeter.  Developed in part by CSU’s Colorado Futures Center, the online tool allows citizens to participate in a simulation of the state’s budgeting process.  According to a media release from the center, “the online tool displays the 2013-14 Colorado general fund budget […]

Categories
Colorado State Publications Blog

Public School Finance Act

Yesterday Governor Hickenlooper signed SB13-213, the Public School Finance Act.  This new law revamps the original 1994 Public School Finance Act.  It is important that Colorado citizens to know about the Act because it will be on the ballot in November.  The bill refers a measure to the voters that proposes raising tax revenue to help fund public schools.  […]

Categories
Colorado State Publications Blog

Taxes

Tax Day is only a month away.  The State of Colorado’s Revenue Online has everything you need to know about filing your state tax return.  If you have questions about your taxes, other helpful sources of information include the Colorado Dept. of Revenue’s Tax FYI fact sheets, Tax Information Index, and new TaxInfo blog.

Categories
Colorado State Publications Blog

Income Tax

Tax season is here; also, did you know that today is the 100th anniversary of the income tax?  The 16th Amendment to the U.S. Constitution, authorizing a graduated income tax, was ratified on February 25, 1913 (you can read it here).  Today, our state and nation’s income tax laws are varied and complex, but the […]

Categories
Colorado State Publications Blog

Colorado Public School Finance Act

A new bill to be introduced in the Colorado State Senate will, if passed, revamp Colorado’s Public School Finance Act, which has been in place for about 20 years.  According to an article in today’s Denver Post, the bill would enact sweeping changes to Colorado’s current school finance system, including abolishing the annual October 1 student count […]

Categories
Colorado State Publications Blog

Tax Increment Financing

Today’s news that Walmart has pulled out of the old University Hospital site at 9th and Colorado in Denver, along with the city’s search for a tax revenue-generating use for the property, has spotlighted the issue of tax increment financing (TIF).  So what are TIFs?  A memo from the Colorado Legislative Council provides an explanation of TIFs and how they […]

Categories
Colorado State Publications Blog

Tax Information

Tax day is one month away. If you haven’t done your taxes already, luckily there’s a lot of free information online that can help. For federal taxes go to www.irs.gov. There you will find tax forms, instructions, and information on new tax breaks and programs. Check out the list of free online filing services. Information […]