SB19-131 Summary

• Exempts retailers with physical presence that generated less than $100,000 in gross revenue from out-of-jurisdiction sales from the destination sourcing rule for sales tax collection.

• Allows small retailers to source sales to their business location regardless of where the purchaser receives the tangible personal property or service.

• Establishes detailed sourcing rules for retailers exceeding the $100,000 threshold, including rules for leases, rentals, and transportation equipment.

• Applies the same $100,000 exemption to retailers' use tax collection requirements under Colorado Revised Statutes 39-26-204.

• Defines key terms including "receipt," "purchaser," and "transportation equipment" for purposes of the sourcing rules.