Increase in Sales Tax Generates $49 Million
COLORADO– Bolder County introduced new sales tax rates effective January 2015. The new breakdown for the tax rate is as follows:
- Bolder County 0.985%
- State of Colorado 2.9%
- Regional Transportation District 1.0%
- Scientific Cultural District 0.1%
- Total 4.985%
The Bolder Country rate increase is 0.185% from the previous 0.8%. This rate was approved by voters in November. This increase will generate $49.6 million over the next 5 years to cover the county’s flood recovery expenses not covered by the state or federal funds.
Bolder county imposes use tax in only 2 circumstances:
- Use tax for the sale of vehicles is collected at the time of registration at the county clerk’s office. It is also imposed when a vehicle is stored.
- Building and construction materials use tax is collected when the building permit is obtained based on the estimated project cost. Once the construction project is complete and reconciliation can be requested and additional use tax imposed/refunded for the actual price of the project.
For additional information, see Bolder County’s website at: http://www.bouldercounty.org/gov/budget/pages/salesusetax.aspx
For sales/use tax compliance questions or audit related concerns, we are here to help!
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