Sales tax holiday considered in Colorado

Clothing and school supplies would be tax-free during an annual Colorado “sales tax holiday” under consideration in the Colorado House.

The bill would make Colorado the 17th state to waive sales taxes on back-to-school items for a short period each year. Colorado’s proposal would set the holiday for the first weekend in August.

The holiday would result in nearly $6 million worth of sales tax savings to consumers each year. That’s according to an analysis prepared for the Legislature. The analysis also said that the state Department of Revenue would have to hire additional staff to process sales tax refund claims and to answer questions about the holiday.

Two Democratic House members suggested the holiday.

2 Responses to Sales tax holiday considered in Colorado

  1. 2 days out of 365? Whoopee!!!

    Susan Smith
    February 8, 2012 at 10:36 am

  2. The money that would be lost to the state is far more important than the .50 I would save buying crayons. The few dolars that individuals could potentially save will not stimulate the economy but the thousands of dollars in lost state revenue that weekend could have a huge impact on our schools, roads, parks etc. How about as a State we tighten the budgets, spend less on non essentials and leave it up to the consumer to spend what they can afford?

    Lisa Rainsberger
    February 9, 2012 at 8:44 am