What You Need to Know for Small Business Tax Filing in Boulder

Do you own a business in Boulder? Do you wonder how Boulder taxes affect your small business?

Here is a list of items on which the city of Boulder collects:

  • Accommodations
  • Admissions
  • Construction use
  • Excise
  • Food Service
  • Sales
  • Use

Do you know which of these scenarios applies to you? Do you know how to remit your taxes and who should receive them?

Boulder Tax Small Business Situations

The following is information to help you if you are a small business owner in Boulder. Please note that this doesn’t constitute tax advice. Please speak to a Boulder tax professional about your specific situations to gather additional information for tax advice.

Payable to the City of Boulder are:

  • Accommodations Tax: Applicable to hotels, bed and breakfast, and the like.
  • Admissions Tax: Applies to places that sell tickets for admission to an amusement event, including sports.
  • City of Boulder Taxes: Remittance is made to the City of Boulder.
  • Construction Use Tax: Applicable on materials used in construction.
  • Excise Tax: This tax is incorporated into the sale of a specific product and then remitted.
  • Food Service Tax: Collected by food service providers whether food is eaten on the premises or off.

Payable to the Colorado Department of Revenue are:

  • Boulder County Tax: Remittance should be made to the Colorado Department of Revenue.
  • RTD Taxes: Also remitted to the Colorado Department of Revenue, these taxes apply to businesses located within the Regional Transportation District.
  • Sales Tax: Both city and state sales tax licenses are required for all businesses to operate in the City of Boulder.
  • Marijuana Business Taxes: These businesses carry a special set of rules for tax remittance. Speak to a professional Boulder Tax specialist to discuss the unique situations if you are a business owner of this type.
  • State Taxes: Remit these to the State of Colorado through the Department of Revenue.
  • Use Tax: This tax applies to both individuals and businesses that purchase items outside the state but use them in Colorado.

Colorado is a “home rule” state, which means the state constitution has granted local government the ability to self-govern within the bounds of state and federal constitutions as they see fit. This complicates taxes for small businesses, as Colorado has over 180 local tax jurisdictions.

Hiring a professional small business accounting firm in Boulder that is knowledgeable and up to date on all codes will help keep you protected from fines/penalties and reduce your chance of an audit. If you need help navigating Boulder taxes for your small business, contact Scher Group, a local accounting firm specializing in preparing you and keeping you up to date and ready for changes in tax codes.

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