H.B. 1265, which Democratic Gov. Jared Polis signed Monday, will permit bars, restaurants and other places that serve food and alcohol and have lost revenue because of the pandemic to take a deduction from state net taxable sales of up to $70,000 for June, July and August. The sales tax relief is an extension of the relief enacted by H.B. 1004, which provided the deduction for November 2020 through February 2021.
H.B. 1265 was introduced April 6 by Reps. Kyle Mullica, D-Northglenn, and Kevin Van Winkle, R-Highlands Ranch, and was approved by the House in May. The Senate passed the bill on June 3.
--Additional reporting by Jaqueline McCool. Editing by Roy LeBlanc.
For a reprint of this article, please contact email@example.com.