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Taxes

sales tax

Sales tax is a tax imposed by state and local governments on the sale of goods and services and is usually calculated as a percentage of the sale price. Sales tax is sometimes referred to as retail sales tax.

In Colorado, sales tax is a combination of state, county, special district, and local taxes. The state sales tax rate is 2.9%, but when combined with local taxes, the rate can be significantly higher. Local governments have the authority to impose additional sales taxes, which means the total tax rate varies depending on the jurisdiction where the sale occurs. Businesses selling goods and services in Colorado are generally required to collect sales tax from their customers and remit it to the Colorado Department of Revenue. The sales tax applies to the sale of tangible personal property and certain services. Some items, such as groceries for home consumption, prescription drugs, and medical devices, are exempt from sales tax in Colorado. It's important for businesses to be aware of the specific sales tax regulations that apply to their location and the nature of their sales to ensure compliance with state and local tax laws.

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Taxes

sales tax

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Colorado State Code

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Taxes

sales tax

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