| Notice Filed with SOS |
03/27/2025 |
| Rule |
ProposedRuleAttach2025-00128.pdf
|
| Additional Information |
AddInfoAttach2025-00128.doc
|
| Statutory Authority |
39-21-112(1), and 39-22-555, C.R.S. |
| Description of Subjects/Issues |
The purpose of this new rule is to provide guidance regarding the electric bicycle tax credit. Specifically, the rule:
• defines certain terms used therein;
• sets forth certain requirements to be a qualified retailer;
• establishes the registration process to be a qualified retailer;
• details requirements a qualified retailer must satisfy when collecting required affidavits;
• clarifies requirements to show the required discount on an invoice or receipt;
• articulates that the applicable sales tax is calculated on the full purchase price without reduction for the required discount provided to the qualified purchaser;
• details what constitutes a new qualified electric bicycle;
• identifies that, for the purpose of the income tax credit, a marketplace seller or multichannel seller is considered to be the retailer for retail sales made in or through a marketplace owned, operated, or controlled by a marketplace facilitator;
• explains that no credit is allowed if the qualified electric bicycle is returned to the qualified retailer;
• establishes who, when, and how quarterly report must be filed;
• explains the consequences for the qualified retailer if a credit is disallowed by the Department; and
• makes explicit requirements for qualified retailers to keep and preserve books and records regarding qualifying sales. |
| Comments |
This hearing will be conducted virtually and will be recorded. Those interested in
attending the hearing must register to participate virtually by using this link:
https://us02web.zoom.us/meeting/register/fkGUnqQhQg25qx-LTPm15Q The
Department encourages the public to participate through video conference
because of the additional participation features it provides. Participants are
welcome to use a webcam to appear by video but can also leave their video
camera off. Parties wishing to attend or participate by teleconference should
connect as follows: Phone Number: 1 (669) 900-6833 Meeting ID: 853 6688 0810 |
| Submitted in response to issues raised by COLS/OLLS? |
|
| Is this rule adopted in response to recent legislation? |
|
| Hearing Date |
05/08/2025 |
| Hearing Time |
10:00 AM |
| Hearing Location |
Virtual Hearing - See Comments |
| Contact Name |
Josh Pens |
| Contact Title |
Director |
| Contact Telephone |
3038665627 |
| Contact email |
dor_taxrules@state.co.us |