CO SB055

Car sharing programs must verify that shared car owners have either paid state and local sales and use taxes on vehicle purchase or received Department of Revenue permission to collect sales and use tax on each rental.

Car sharing programs must verify that shared car owners have either paid specific ownership tax or elected to pay specific ownership tax per rental under Section 42-3-107.

Car sharing programs shall collect and remit specific ownership tax on behalf of owners who elected per-rental payment, and collect and remit state sales and use taxes on behalf of owners with Department of Revenue permission.

Counties and municipalities are authorized to enforce collection of any taxes or fees on the business of renting shared cars by requiring car sharing programs to collect taxes and fees for registered vehicles.

The bill takes effect February 1, 2024, and applies to vehicles registered with car sharing programs or shared on or after that date; the legislation itself takes effect 90 days after final adjournment or following November 2024 voter approval if a referendum petition is filed.