State House Approves Business Tax Exemption

DENVER (AP) – The Colorado House of Representatives is giving its support to a measure lawmakers hope will help create jobs in Colorado.

The measure (House Bill 1263) doubles the small business personal property tax exemption currently allowed from $7,000 to $14,000. It also exempts a portion of the property of public utilities.

Supporters say by providing relief from the business personal property tax, small businesses and other employers will have more money to buy additional equipment or even hire additional workers.

The measure now moves to the Senate.

(Copyright 2011 by The Associated Press.  All Rights Reserved.)

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