Colorado: Important Notice for Sales Tax Filers
- Sales Tax News
- Mar 30, 2015 | Gail Cole
The Colorado Department of Revenue reminds Colorado sales tax filers that EFT (electronic fund transfers) payments for sales tax are different than EFT payments for withholding tax.
According to the DOR, “A sales tax return must be filed even when the sales tax is paid through EFT because multiple tax jurisdictions are involved and the correct tax distribution must be reported to the Department of Revenue.”
Sales tax management in Colorado is Gordian, with more than 300 individual jurisdictions able to levy and collect local sales tax under Home Rule. Businesses can simplify transaction tax filing and increase compliance by implementing automated sales tax Software-as-a-Service. Learn how it works.