Legislation enacted on June 23 in Colorado subjects sales of digital goods and mainframe computer access to sales and use tax, requires ‘tax haven’ corporation inclusion and ‘Finnigan apportionment’ for corporate income tax purposes, provides a passthrough entity tax as a federal ‘SALT cap’ workaround, and adopts limitations on individual itemized deductions, among other provisions.
Taken together, these three bills enact significant changes in Colorado tax policy impacting a broad range of in-state and out-of-state taxpayers.
