Colorado Issues Emergency Draft Rules on July 1 Use Tax Notice and Reporting Requirement

Sovos
June 23, 2017

On July 1, 2017, Colorado’s long anticipated notice and reporting requirements for non-collecting retailers goes into effect. This law requires retailers that do not have sales tax nexus but make $100K or more in annual sales to Colorado customers to report transactions to the state as well as notify purchasers of their use tax obligation. The Colorado DOR recently sent interested parties, via email, a draft emergency rule explaining these requirements. Sovos is submitting comments to seek clarification on several issues. In particular, we have requested that Colorado explain whether wholesale sales count toward the $100k threshold. When further guidance is received, we will be sure to publish via this forum.

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Sovos

Sovos is a leading global provider of software that safeguards businesses from the burden and risk of modern transactional taxes. As VAT and sales and use tax go digital, businesses face increased risks, costs and complexity. The Sovos Intelligent Compliance Cloud is the first complete solution for modern tax, giving businesses a global solution for tax determination, e-invoicing compliance and tax reporting. Sovos supports more than 7,000 customers, including half of the Fortune 500, and integrates with a wide variety of business applications. The company has offices throughout North America, Latin America and Europe. Sovos is owned by London-based Hg. For more information visit www.sovos.com and follow us on LinkedIn and Twitter.
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