Colorado Legislatively appointed Sales Tax Simplification Task Force to Continue
Published: July 10th, 2020
Lakewood Sentinel Column by Tracy Kraft-Tharp:
2020 has been an historic and unprecedented year. After months of pandemic news, lockdowns, and social distancing, the Colorado General Assembly and small businesses across the state turned their attention to economic recovery.
Simplify Colorado Sales Tax (UPDATE: Signed into law 6/29/20)
The mission of the Simplify Colorado Sales Tax Coalition is to reform Colorado’s excessively complex sales and use tax system with fairness, simplicity, and predictability for businesses, fostering a competitive economic environment that attracts employers.
HB 20-1022 allows the Legislative Sales & Use Tax Simplification Task Force, originally established in 2017, to continue its work advancing legislation to simplify Colorado’s sales and use tax system. Why is extending this task force so critical? In 2013, the Council on State Taxation rated Colorado as the fourth worst state in the country with a grade of “D” due to our patchwork of over 700 local sales tax jurisdictions.
Over the last three years, the task force has made significant progress, including development of a streamlined database that will provide administrative simplification. Along with several small businesses, I recently had the opportunity to observe the system and am pleased to report that we are well on our way to launching this critical resource.
Prior to the creation of this database, business owners faced deciphering hundreds of jurisdictions, piles of paperwork, and multiple tax filings. Without this new system, Colorado’s small businesses would face one more barrier to success. At a time when Coloradans are struggling and economic recovery is paramount, streamlining tax collections will enable businesses to focus on what they do best—creating jobs and driving our economy.
According to the U.S. Small Business Administration, small businesses employ more than 1 million people and account for 99% of all businesses. Simplifying the sales tax process to protect small businesses and our economy is both a common-sense solution and a fiscal necessity.
State Representative Tracy Kraft-Tharp has been a small business owner and represents House District 29 in Jefferson County. She is a candidate for District 1 Jeffco Commissioner.
Source: Lakewood Sentinel