SB 18-179

Senate Bill 18-179, which has now been signed into law, extends a tax credit for Colorado tobacco distributors. This credit allows these companies to claim back taxes they've paid on products that are sold and shipped to customers in other states. The bill makes this temporary benefit permanent and requires the distributors to keep detailed records of their out-of-state sales. This affects tobacco product distributors who sell to consumers outside of Colorado, providing them with a long-term financial advantage by allowing them to recover taxes they've paid on those products.

Official Summary

Currently and until September 1, 2018, a distributor can claim a credit for taxes paid on tobacco products that are shipped or transported by the distributor to a consumer outside of the state. The bill makes the credit permanent and requires the distributor to maintain certain records related to the out-of-state sales to consumers. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.) , Read More

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