Tax report reflects county’s confidence
El Paso County’s most recent monthly sales and use tax report reflects the increasing confidence of El Paso County residents. Automobile registrations were up 15 percent year over year. Use tax paid on construction materials was up 55 percent. Overall, sales and use taxes are up 7.8 percent over last year. These numbers suggest that [...]
It was an eventful year in politics and government — nationally, regionally, and locally. In fact, 2012 may have been a watershed year, one in which the comfortable assumptions of the past were overturned and the future became cloudy and uncertain. Elections First came the party primary elections on June 26, notable locally on two [...]
Continue reading …Ballot issues to raise taxes have not historically fared well in El Paso County. So it was a surprise to some when two such issues passed with wide margins Tuesday. Ballot issue 1A, which called for a 23-hundredths of a cent sales tax increase to support staffing increases and equipment upgrades at the Sheriff’s Office, [...]
Continue reading …Senate leaders moved toward showdown votes Wednesday on rival Democratic and Republican plans for extending broad tax cuts that will otherwise expire in January. In an announcement that seemed to surprise Democrats, Senate Minority Leader Mitch McConnell, R-Ky., said on the Senate floor that he was accepting a Democratic offer to hold back-to-back [...]
Continue reading …Cripple Creek casino operators hope rising revenues will make up for a tax increase the Colorado Limited Gaming Control Commission approved last week. The commission reversed a 5 percent tax decrease on the gaming industry that cost the commission’s previous members their seats. Casino operators had asked the commission in spring 2011 for a 10 [...]
Continue reading …No budding entrepreneur wants to go down in flames over a misunderstanding of the tax code. But, it happens, local experts say. CPA Etienne Hardre, owner of Next Exit Advisors, watched a startup company go bankrupt because its owner made a fatal payroll tax mistake when it classified workers as independent contractors instead of employees. [...]
Continue reading …If the soundtrack from the movie “Jaws” is going off in your head you might realize that today is tax day. If you owe the government money, today is pay-up day. You could get a save if you file an IRS Form 4868, which allows a six-month extension. But, this is not a get out [...]
Continue reading …A compromise bill extending a payroll tax cut and jobless benefits for the long-term unemployed should be enacted, but it’s not going to help the economy very much, House Speaker John Boehner said Thursday. Boehner, R-Ohio, made the remarks hours after bipartisan congressional bargainers announced agreement on legislation extending those provisions through 2012 and heading [...]
Continue reading …A Denver judge sentenced Colorado Springs landlord and politico Douglas Bruce to 180 days in the Denver County Jail and a six-years probation for tax evasion. The sentencing comes after a jury convicted Bruce in December of three felonies and one misdemeanor related to tax-evasion cases in 2005, 2006 and 2007. As part of his [...]
Continue reading …Small business owners say corporate tax loopholes give the nation’s biggest companies an unfair business advantage. A survey of its members, the American Sustainable Business Council, Main Street Alliance and the Small Business Majority reports that small business owners favor increasing taxes on millionaire incomes, letting high-end tax cuts expire and closing the carried-interest loophole [...]
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