Colorado Amends Provisions on Certain Tax Expenditures, Credits

The Colorado Governor signed a law modifying or repealing various tax deductions, credits, refunds, and exemptions related to income tax, sales tax, excise tax and property tax. The law includes: 1) eliminating the excise tax refund credit for manufacturing, wholesale, and distribution of alcoholic beverages; 2) extending the tax credit for residential energy storage systems, sale and use tax for biotechnology, and tax offsets; and 3) revisions to provisions regarding income tax on estates and trusts and net income of corporations. [S.B. 26, enacted 06/03/25]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.