Economic Nexus for Colorado Home Rule Cities
Published: May 11th, 2020
Economic Nexus for 72 more jurisdictions like unto states? Yes, it’s quite probable for most if not all of Colorado’s 72 self-collecting home-rule jurisdictions like Denver, Colorado Springs, Aurora, Fort Collins, Lakewood, Thornton, Arvada, Westminster, and more.
What does this mean for businesses? The time is close at hand when we will see a unified effort for adoption of Economic Nexus from home-rule municipalities in Colorado. Businesses should be prepared for Economic Nexus among the 72 self-collecting home-rule cities in Colorado.
Background
In 2019, the Colorado General Assembly adopted and the Governor signed into law Senate Bill 19-06, which allowed for the creation of a single-point remittance portal (“SUTS”) enabling online retailers who meet a minimum threshold to remit sales taxes to the State, state-collected municipalities, and self-collecting home-rule municipalities that opt in. Before joining the portal, self-collecting home-rule municipalities must adopt language aligning with the State’s SB 19-06 provisions. A team of municipal attorneys and finance directors across the State drafted the model ordinance to facilitate this.
Contact for more information:
lfurman@cochamber.com
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