Colorado – Clean Tech and Medical Device Sales and Use Tax Refunds (H 1325)

SALT Report  3303 – Proposed Legislation

“Current law provides a sales and use tax refund, not to exceed $50,000, to a qualified clean technology or medical device taxpayer for all state sales and use tax paid by such taxpayer on the sale, storage, use, or consumption of tangible personal property to be used in Colorado directly and predominantly in  research and development of clean technology or medical devices during a calendar year. The statute was passed with a trigger specifying that the refund was only available if total state general fund appropriations increased by 6% over such appropriations for the previous fiscal year. The application of the trigger resulted in confusion as to the availability of the refund for the 2009 calendar year. The current law also includes a repealer effective July 1, 2014, and the repealer makes it unclear whether the refund is available for the 2014 calendar year.

The bill addresses the confusion by specifying that the refund was available for the 2009 calendar year and by making clear that the refund is available for the 2014 calendar year.”

For Further Information:

HOUSE BILL 14-1325