Business tax break heads to CO governor

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A potential tax break on business equipment is headed to the desk of Colorado Gov. John Hickenlooper.

The Senate voted 34-0 Wednesday to give final approval to the measure that allows municipalities to control how much of the taxes they want to exempt.

The legislation would give municipalities the choice to exempt all taxes on equipment, including office furniture, for new businesses. Current law caps such exemptions at 50 percent.

Republicans have been pushing for years for a tax break on business equipment. Democrats agreed to the measure this year because it gives local government a choice of whether to expand the tax break.