HB 15-1301 Summary

• Creates the "Cigar On-line Sales Equalization Act" to provide a tax credit for Colorado tobacco distributors shipping or transporting tobacco products to out-of-state consumers on or after September 1, 2015, but prior to September 1, 2018.

• Allows distributors to claim a credit for state excise taxes paid on tobacco products shipped to consumers outside Colorado to prevent double taxation and level the competitive playing field with other states.

• Amends Colorado Revised Statutes 39-28.5-107 to expand tax credit eligibility from retail sales only to include direct-to-consumer sales without the state.

• Appropriates $15,826 to the Department of Revenue for the 2014-15 fiscal year ($14,626 for CITA maintenance and support; $1,200 for document management) and $1,200 to the Department of Personnel for document management services.

• Declares the act necessary for immediate preservation of public peace, health, and safety.