Tax & Accounting Blog

Colorado Springs Expands Tax Breaks to Attract Business

Indirect Tax, ONESOURCE, Sales and Use Tax, Sales Tax Calculation September 26, 2012

Colorado Springs’ Mayor, Steve Bach, has unveiled a new tax plan for the city featuring tax breaks for companies relocating to or expanding their operations within the city and “commercial aeronautical zone.” These breaks, which Bach called “economic vitality accommodations,” are only intended to be temporary changes to the city’s tax policy. The incentives include rebates for the city’s 2 percent sales and use tax on construction materials and business personal property.  Sales tax will be applicable on sliding scale on manufacturing equipment as well.  These new incentives aren’t targeting any current prospects directly, but were expanded in order to be more proactive towards increasing investment and job growth in Colorado Springs.

Read More: