Sales Tax Holiday Considered In Colorado
DENVER (AP) — Clothing and school supplies would be tax-free during an annual Colorado “sales tax holiday” under consideration in the Colorado House.
The bill would make Colorado the 17th state to waive sales taxes on back-to-school items for a short period each year. Colorado’s proposal would set the holiday for the first weekend in August.
The holiday would result in nearly $6 million worth of sales tax savings to consumers each year. That’s according to an analysis prepared for the Legislature. The analysis also said that the state Department of Revenue would have to hire additional staff to process sales tax refund claims and to answer questions about the holiday.
Two Democratic House members suggested the holiday.
LINK: House Bill 1069