Temporary Elimination of Vendor Allowance in Colorado

Colorado legislation temporarily eliminates the ability of any vendor to retain any amount of state sales tax revenues to compensate for the vendor’s expenses incurred to collect and remit from July 1, 2009 through June 30, 2010. Vendors, however, will not be liable for interest and penalties imposed as a result of an error made due to the change of the vendor fee on any returns prior to August 1, 2009 (S.B. 275, Laws 2009, effective May 18, 2009).

Posted on June 29, 2009