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Tax assessments likely to fall 14 percent

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Property owners in El Paso County could see an average of a 14-percent decline in their 2011 assessments, meaning lower taxes for homeowners and others, according to a preliminary estimate from the El Paso County Assessor. Such a drop in assessments would be the largest since the late 1980s, when Colorado Springs earned a reputation… Continue Reading Tax assessments likely to fall 14 percent

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A coalition formed to fight three tax-limit initiatives on Colorado’s November ballot has raised more than $4 million. Coloradans for Responsible Reform plans to spend most of it on television ads that will run after Labor Day. The campaign manager is Rick Reiter, who led the campaign to pass Referendum C in 2005. The measures… Continue Reading Opponents of 60, 61, 101 raise more than $4 million

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Another hurdle for Copper Ridge

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The Colorado Springs City Council gave the Copper Ridge project a green light this spring but the proposed 2.8-milion square foot retail project faces what could be a big roadblock before the El Paso County Commission. Developer Gary Erickson plans to ask the commissioners to grant a sales tax waiver for the project, mostly to… Continue Reading Another hurdle for Copper Ridge

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Budget woes aggravate tax season

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Furloughs and a hiring freeze at the state Department of Revenue have slowed the processing of income-tax refunds in a year already plagued by delays that some blame on a new computer system. In a June 24 notice to tax professionals, the department’s taxpayer service division noted that it was dealing with “a significant backlog… Continue Reading Budget woes aggravate tax season

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Data-entry errors by its staff and mistakes made by tax preparers. That’s how the state Department of Revenue explains what accounting firms statewide are describing as one of the worst headache-inducing tax seasons in some time. The problem, tax professionals assert, is rooted in a software upgrade by the state. The state counters that its… Continue Reading Tax season beset by complaints

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A bill that would eliminate all enterprise zone tax credits, House Bill 1396, was withdrawn this morning by its sponsor,  Rep. Joel Judd, D-Denver. Stefannie Finley, president of the Colorado Springs Chamber of Commerce’s governmental affairs division, said Judd didn’t have enough supporting voters from the House Finance Committee. Opponents claimed the bill will both… Continue Reading Enterprise zone bill withdrawn

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Businesses in Colorado would have to justify tax breaks they receive from the state under legislation introduced in the state House. House Bill 1350, sponsored by Rep. Sal Pace, D-Pueblo, requires any business that receives more than $25,000 in tax breaks — mostly for job-creation or relocation — to justify their use of the money.… Continue Reading Bill would require justification for business tax breaks

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DENVER (AP) – Legislation to tax candy, soda, software downloads and energy used in manufacturing passed the first reading in the Colorado Senate by a single vote. The measures passed their initial reading late Monday night after about 12 hours of debate. The final round of voting might not come until Wednesday. Bills to tax… Continue Reading Senate debates candy, soda, software taxes

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DENVER (AP) – Republican lawmakers are calling on the governor to cut about $320 million from the state’s budget instead of raising taxes on businesses. GOP senators said Thursday they’ll introduce a bill calling for $17.8 million in cuts this year – about 0.24 percent of the budget. Next year they want $306.5 million in… Continue Reading Republicans to Ritter: Cut government, don’t raise taxes

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Procrastination won’t pay

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Little time left to take advantage of substantial tax benefits Less than three weeks remain for business owners to consult their tax advisers and take advantage of tax breaks for 2009. One of the ways in which the government has attempted to restore economic stability is by offering tax incentives to small businesses to stimulate… Continue Reading Procrastination won’t pay

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