SB 17-208

Senate Bill 17-208, which has been signed into law, expands an existing sales tax exemption. Originally, businesses could buy machinery and tools for manufacturing without paying state sales or use taxes. Now, the bill allows companies that mine construction materials to also purchase such equipment tax-free. This affects manufacturers and mining operations in Colorado by reducing their costs. Since it's signed, the bill is now law and these businesses can start benefiting from the exemption immediately.

Official Summary

Purchases of machinery or machine tools to be used in Colorado directly and predominantly in manufacturing tangible personal property are currently exempt from state sales and use tax. The bill extends the exemption to machinery or machine tools purchased by a business for construction materials mining operations. (Note: This summary applies to this bill as introduced.)

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