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Thursday, August 18, 2022

Colorado Department of Revenue updates website

Death and taxes — the old adage about certainty in life. Taxes certainly fit into a way of life, especially if you are a business owner.
The state has recently imposed some new regulations about collecting taxes if you sell and ship out of the county. As a retailer, are you up to speed?
In addition, as a proponent of the “shop local” concept, taxes are also a big component of keeping the infrastructure alive and well in Pagosa Springs and Archuleta County.
The Colorado Department of Revenue has a new page on its website that informs people about the various tax collection and filing avenues, but also speaks to where your taxes go.
That new page is called “L.I.F.E. — Links and Information For Everyone.” There are six basic components to this page: 1. The why, where and how state taxes are collected and used. This includes information on what goods are taxable, buying and selling a vehicle, and the different types of taxes the state collects. 2. “Income Tax Collection and Filing State Returns.” If you are joining the military or a student here for college, this is the section that might be useful to you. 3. “The Alphabet Starting with C” is a section that is very helpful for those who might be looking to enter college or a vocational school — even resources for grants or financial aid, explaining if you have a part-time job — your responsibility with taxes, all things car and driver’s license, and what kind of taxes may come out of your paycheck. 4. “Information and Links on Starting Your Business” is my favorite for those new business owners or those looking to open a business. It has a link to the other new website, www.mybiz.colorado.gov, which is very helpful about how to file for taxes, getting your sales tax number with the state, etc. However, this section gives you almost a step-by-step process on how to muddle through the steps in opening your business: when to register with the secretary of state, checking on trade name availability, what taxes to pay and how to pay them, tax exemptions and deductions, and even compliance and penalty ramifications. 5. “Where Taxes Come From and Services They Support” is important if you don’t know what you are paying for: schools, safety, libraries, health care, community infrastructure. Remember, shopping local helps keep our infrastructure healthy and money circulating within our community. No one really likes to pay taxes, but we all rely on that tax base. And finally, 6. “Info Pursuit” has important links to government websites and other useful state information.
This would be a good website to bookmark for your business as a reliable and easy resource. It is one of the easier Web pages that is useful and talks about steps and procedures in layman’s terms and more methodically than instructions I have seen in the past. You can easily access the site at www.colorado.gov/tax/yourcolife.com. The pages sit on the Colorado Department of Revenue’s website. This YourCoLife site and the MyBiz.Colorado sites are a move on the state’s behalf to help upcoming entrepreneurs and existing businesses understand the procedures as well as the new tax changes the state has implemented.
Membership news
We welcome back Community Connections as a member.
Our renewals this week include Higher Grounds, Lantern Dancer Gallery and Gift Shop, Mountain Eye Care, Mountain Pizza and Tap Room, Pagosa Verde, Plaza Liquor, Happy Camper RV Park, and the Bar D Chuckwagon. Our nonprofit organization renewing is the Noon Rotary Club and our individual member renewing is Neal Johnson.
Time is running down, so don’t forget to purchase your tickets for the super prize package for the Adventure Package Raffle. The prizes include a 2019 900 RZR and the trailer to haul the vehicle, a Solo Aire inflatable kayak, an Electra Townie E-Bike, a $1,000 shopping spree at Ski and Bow Rack and more. The drawing will take place at the Bands and Brews event on Sept. 21 at 7 p.m. You do not need to be present to win.
Tickets are available online at www.pagosachamber.com or at the Visitor Center or Chamber of Commerce. Tickets are also available for the Passport to Pagosa Wine and Food Festival and Bands and Brews. You can purchase tickets for any of the events at www.pagosachamber.com. Think about getting a table of 10 together for reserved seating on Friday night. For more information, contact the Chamber at 264-2360.

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