The State Sales Tax Rate Changes Instruction printable pdf download

GENERAL INSTRUCTIONS

The state sales tax rate changes to 2.9% beginning January 1,2001.

Changes or Closures: If you move, change your mailing

Reporting Forms: This booklet contains the forms needed to

address, change your business or trade name, or are no

report and send payments of Colorado Sales Tax for the

longer in business, you must inform this department of such

current calendar year. These returns are placed in the booklet

changes by completing the change or closure form in this

in the order in which they should be used. YOU MUST USE

booklet. If the business ownership changes, the new owner

THE RETURN WHICH CORRESPONDS TO THE PERIOD

cannot use the previous owner's reporting forms. The new

FOR WHICH YOU ARE FILING. Please be sure to send the

owner must apply for his/her own Colorado Account

remittance copy with your payment.

Number and personalized forms.

All entries of state and local taxes on this sales tax return

Records: Copies of the enclosed returns and records of both

must be rounded to the nearest dollar. You will still collect

purchases and sales, including sales invoices and purchase

and keep track of exact amounts of sales tax. Books, records

orders, must be retained for a period of three years. The

and statements or invoices to buyers must reflect actual tax

burden of proof for exempt sales rests with the seller.

amounts. It is only when you fill out this return that you

Records must be open for inspection by authorized represen-

tatives of the Executive Director, Department of Revenue.

round the numbers you are reporting. Your sales tax remit-

tance must not differ from the exact amount of tax collected

All sums of money paid by the purchaser to the seller as

by more than 50 cents. Round amounts under 50 cents down

taxes shall be and remain public money, as property of the

taxing jurisdiction. The seller should always maintain

to 0 (zero) cents. Increase amounts from 50 to 99 cents to the

sufficient records of payment.

next dollar. A return must be filed even if there is no tax due.

If there is no tax due in an applicable column, you MUST

FOR ADDITIONAL INFORMATION:

ENTER A 0 (ZERO) in that column. Failure to enter zeros will

Colorado Department of Revenue

result in the issuance of an automatic estimated non-filer

Denver CO 80261-0013

notice.

(303) 232-2416

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1/17/01, 9:57 AM

The State Sales Tax Rate Changes Instruction

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