Tax increases come election day?
Local tax increase initiatives may be on the November 2, 2010 election ballot
Local municipality and county governments may place sales and property tax increase initiatives on the upcoming fall election ballot….due in large part to lagging tax revenues arising from an economy in recession and subsequent anemic growth.
While demographics and new purchasing attitudes have and will play a significant role in the future, currently depressed home prices, nominal residential & commercial construction projects and lackluster retail & vehicle sales have forced several local taxing authorities to consider initiatives to raise taxes.
The question I’m often asked – Is this necessary?
My short answer is always no. I recommend that the appropriate tax authorities simply collect the taxes already “on the books” and make all individuals and businesses accountable rather than relying on those who honorably comply with local taxation laws.
In other words, every government official in charge of establishing and collecting taxes should consider:
Commercial Personal Property Tax. Collect county-specific legal entity and trade name data from the Colorado Secretary of State to ensure all business owners operating within Larimer County comply with the annual commercial personal property declaration schedule due each April 15th.
Sales & Use Tax Licensure. Collect county-specific legal entity and trade name data from the Colorado Secretary of State to ensure all business owners, whether operating at a commercial location or out of a home office, apply for and maintain appropriate sales & use tax licenses and at the very least, file annual sales & use tax returns whether or not any tax is owed.
Sales Tax Collection. Work with the Federal government and other state and local agencies to create a national sales tax clearing house where all sales, regardless of origin, are subject to and taxed appropriately. That way, all consumers and re-sellers of goods and services will operate on a level playing field.
