In this episode, Judy Vorndran, Tram Le and Connie Zoerink from TaxOps’ SALTovation Team, talk about Colorado’s Sales and Use Tax System (SUTS) and some of the challenges and risks they are seeing with this system.
What You Will Discover:
- [00:27] What is SUTS
- [01:26] What is a home rule
- [03:47] How it logically works
- [04:40] Challenges and risks
- [07:33] Risks with historic nexus
Quotables:
- “We truly don’t know how it’s going to roll out, because not all cities are on SUTS. I think we have 17 out of the 71 cities that haven’t signed on or haven’t finalized their agreement to participate. So I think that can get pretty complicated at this point if there are taxpayers who are interested and ready to sign on and make it less complicated.” -Tram Le [04:40]
- “It’s important to talk to an expert before you go out and register all these cities through SUTS and make you sure understand who the cities are and references.” -Judy Vorndran [06:38]
- “If you register on SUTS using your perspective registration date going forward from today say, there could be a historic nexus issue, and so we’re just concerned that taxpayers may be audited or there may be some issues raised with that where there could be some big money involved with that.” -Connie Zoerink [08:03]
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Production Support
This episode was produced with support from Truth Work Media. www.truthworkmedia.com
Mentioned in this episode:
SALT Contact
SALT Contact
