Colorado Governor Signs Covid-19 Tax Credit and Relief Bills

Dec. 7, 2020, 9:05 PM

Colorado Gov. Jared Polis (D) signed a pair of bills Monday that provide tax and other relief for small businesses affected by the pandemic.

One bill (H.B. 1004) will allow bars, restaurants, food trucks and tasting rooms to deduct up to $70,000 in sales from their monthly state sales tax return for four months and at up to five locations. The other bill (H.B. 1006) lets insurance companies pay lower quarterly estimated tax payments, although they still have to pay the full amount later.

  • H.B. 1004 will amount to credits of about $2,000 ...

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