CO HB1265

Allows qualifying food service retailers to deduct up to $70,000 in state net taxable sales per month and retain the resulting sales tax collected as COVID-19 relief assistance.

Defines qualifying retailers as businesses in alcoholic beverages drinking places, restaurants, catering, food services contracting, mobile food services, or hotel-operated restaurants/bars/catering services that timely file sales tax returns.

Initial relief period covers sales made November 2020 through February 2021, with an extended period for sales made June through August 2021.

Allows up to five deductions per month for retailers with multiple fixed physical premises that are properly licensed.

Appropriates $101,600 to the Department of Revenue for fiscal year 2021-22, with $1,600 for administration and $100,000 for taxation services personnel.