Accounting, Bookkeeping, and QuickBooks Tips for Small Businesses

Posts tagged Colorado

Colorado Sales Tax Updates, Effective July 1, 2011

Small Business Owner at Cash Register

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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Michelle Edwards, CPA - QuickBooks Consultant 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.


Colorado Businesses Beware

The Colorado Secretary of State issued a warning to businesses about a misleading advertisement business are receiving in the mail. Several of my clients have received the official-looking notification from “Corporate Controllers Unit” requesting you to file your annual report for $225. If you receive one of these notices, please be aware they are NOT from the Colorado Secretary of State. Instead, it is a scam – it is a misleading sales flyer trying to have you sign up to use their business to file your Colorado annual business registration.

Businesses in Colorado are required to file annually with the Colorado Secretary of State. Typically your business will receive a post card from the Colorado Secretary of State reminding you to file. Once your business is set up, the annual filing fee is only $10. You can easily register your business online and it only takes a couple of minutes.

Click Here to See a Copy of Misleading Letter

The letter does not appear to contain any false information. It was designed to be an advertisement, but is generating publicity for being misleading to Colorado business owners.

To see if your business is in compliance with your annual reporting requirements or to file your annual report visit the Colorado Secretary of State’s website.

As always, if you have any questions or concerns about your annual filings please feel free to contact your Colorado CPA.

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Michelle Edwards, CPA - QuickBooks Consultant 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.


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