Tax & Accounting Blog

Colorado Sales Tax Holiday Bill Moving Quietly Along

Indirect Tax, ONESOURCE, Sales and Use Tax May 9, 2012

A Tax Holiday bill that recently passed in the Colorado House has rolled through a Senate panel despite skepticism on both sides.  Should the final bill eventually come to pass, Colorado would join 16 other states that exempt the purchases of school related items, as well as other purchases, from state sales tax during a period in August.  Commonly referred to as “Back-to-School” tax holidays, these are designed to stimulate shopping as well as offer relief to parents with school aged children for a week or weekend in August.  However, forecasts are saying that this holiday would likely not begin until August of 2014.

Source: http://www.denverpost.com/breakingnews/ci_20544611/colorado-senate-panel-advances-back-school-sales-tax

UPDATE: In the closing days of legislative deliberations, the Senate has rejected the bill from going forward despite earlier bipartisan support and clearance in the House.

Source: http://www.therepublic.com/view/story/55f2b8a1055541f8ac5cc6386f1bfaae/CO-XGR–Sales-Tax-Holiday