CO HB1162

Reinstates the state sales and use tax exemption for soft drinks effective July 1, 2011, reversing a 2010 repeal of the exemption

Defines "soft drinks" as nonalcoholic beverages containing natural or artificial sweeteners, excluding beverages with milk products, soy, rice, or greater than 50% fruit/vegetable juice by volume

Applies the exemption to soft drink sales through retail stores and vending machines

Establishes that the Department of Revenue may allow sellers to reasonably estimate sales taxes on soft drinks between May 1, 2010 and June 30, 2011, and exempts sellers from penalties for errors made during the prior taxable period

Includes legislative findings that singling out soft drinks for taxation is arbitrary, increases grocery costs for working families, and represents unwarranted government intrusion into consumer choices