Qualified Retailer Retain Sales Tax For Assistance
The act continues for June 2021, July 2021, and August 2021 a temporary deduction from state net taxable sales for qualifying retailers in the alcoholic beverages drinking places industry, the restaurant and other eating places industry, and the mobile food services industry in the state in order to allow such qualified retailers to retain the resulting sales tax collected as assistance for lost revenue as a result of the economic disruptions due to the presence of coronavirus disease 2019 (COVID-19) in Colorado.
The act also expands the definition of qualifying retailers to include those in the catering industry, the food service contractors industry, and the hotel-operated restaurant, bar, or catering service.
(Note: This summary applies to this bill as enacted.)