Colorado Implements New Rule for Sales and Use Tax Refund Claims by Buyers

• Colorado Department of Revenue has adopted a new rule for buyers’ claims for sales or use tax refunds
• The rule outlines the application process and required documentation for claiming a refund
• Applicants must submit a completed form, itemized purchases, invoices, proof of payment, and additional required information
• A penalty of 5% of the total refund claim will be imposed for incomplete claims over $5000
• The Department must notify the buyer of any incomplete claims and allow them to correct or withdraw the claim within 60 days

Source: salestaxinstitute.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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