CO HB1041

Requires home rule cities, towns, and counties that collect their own sales and use tax and do not use the electronic sales and use tax simplification system to obtain either retailer election or voluntary collection agreements before collecting tax from retailers without physical presence in the state.

Allows the executive director of the department of revenue to permit taxpayers with monthly tax collected less than $300 to file returns quarterly instead of monthly for filings before January 1, 2025.

Increases the threshold to $600 in monthly tax collected for quarterly filing eligibility for returns filed on or after January 1, 2025, with authority for the executive director to increase the amount further starting January 1, 2026.

Appropriates $17,200 to the department of revenue for the 2024-25 fiscal year, including funding for personal services, operating expenses, and GenTax IT system support.

Takes effect 90 days after final adjournment of the general assembly, subject to referendum petition and voter approval at the November 2024 general election.