Colorado DOR Issues Information on Individual Income, Sales and Use, Property Tax TABOR Refund

The Colorado Department of Revenue Dec. 1 issued information on the 2023 Taxpayer’s Bill of Rights (TABOR) refund for individual income, sales and use, and property tax purposes. The information states: 1) for 2023, S.B. 23B-003 makes adjustments to the calculation of the TABOR sales tax refund; 2) TABOR state sales tax refunds claimed on income tax returns, or Property Tax/Rent/Heat Credit applications, will provide an equal refund of $800 for all qualifying individuals, or $1,600 for two qualifying taxpayers filing jointly; 3) qualifications for individuals to receive the state sales tax refund, filing deadlines, and requirements to claim a ...