Ca-Ching! Great news for Colorado businesses – the State of Colorado is restoring their State Sales Tax Service Fee (aka Vendor’s Fee), effective July 1st, 2011. The State Sales Tax Service Fee will be 2.22%. According to Colorado’s Department of Revenue’s website, “the service fee may be claimed on timely filings and paid sales tax returns submitted on or after July 1st, 2011. Beginning with sales tax returns for June 2011 and 2nd quarter 2011 returns due July 20th, 2011.” In a nutshell, if you if you file and pay your sales tax returns on time, you may take this 2.22% state sales tax vendor’s fee credit.
Here’s the link to Colorado’s Department of Revenue for additional information. Colorado Department of Revenue – July 1, 2011 Sales Tax Rate Changes
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Written by Michelle Edwards, CPA
Certified QuickBooks ProAdvisor
Michelle is the owner of Trailhead Accounting Solutions CPA, LLC, an Erie, CO based CPA firm focused on providing small and mid-sized businesses with day-to-day accounting, bookkeeping, and business solutions. Michelle is a CFO turned consultant who loves working with small businesses and entrepreneurs. When she’s not crunching numbers, she can be found hiking, remote camping, gardening, quilting, and hanging out with her family.
