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Colorado Enacts Sales & Use Tax Refund for Research & Development


Healthcare
Manufacturing

Colorado has enacted a sales and use tax refund for tangible personal property used for research and development by a qualified medical technology or clean technology taxpayer. From January 1, 2015 through December 31, 2017, a qualified medical technology or clean technology taxpayer can claim a refund up to $50,000 per calendar year for state sales and use tax paid by qualified taxpayers for tangible personal property used in Colorado directly and predominately in research and development of medical technology or clean technology. To claim the refund, the taxpayer must submit a refund application to the DOR no earlier than January 1 and no later than April 1 of the calendar year following the year in which the tax was paid. The taxpayer must provide proof of the taxes paid and any other additional information required by the DOR.(H.B. 1180, Laws 2015, effective 91 days after final adjournment of the General Assembly)

(06/23/2015)
(New)
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