Printer Friendly

SMALL BUSINESS OWNERS OPPOSE REDUCTION OF VENDORS FEE FOR COLLECTION OF SALES TAX

 SMALL BUSINESS OWNERS OPPOSE REDUCTION OF
 VENDORS FEE FOR COLLECTION OF SALES TAX
 DENVER, Jan. 23 /PRNewswire/ -- Colorado's small business owners strongly oppose a bill which would cost small retailers in Colorado an estimated $30 million annually in administrative expenses to collect sales taxes for state and local government.
 The bill has widespread opposition among small business owners, according to a recent study by the 13,500-member National Federation of Independent Business (NFIB)/Colorado, the largest small business organization in the state.
 HB92-1067 which caps sales tax collection allowance for small retailers at $33 annually, assumes small business owners have a much lower administrative requirement. It is not the total dollar amount of the transaction process which takes time and expense, NFIB state director Ron Smith said, but the total number of transactions processed by small retailers when compared with large retailers.
 "Our small businesses are expected to provide mandatory benefits to their employees in addition to their jobs and then the government turns around and makes it more costly for them to provide a job in the first place," Smith said.
 HB92-1067 would force retailers to recoup collection costs by passing them on in the form of increased prices to Colorado's consumers, he added.
 Smith added that the legislature and this committee should, at a minimum, withhold any decision on this bill until the study based on the costs of collecting state and local sales taxes is completed Feb. 15, 1992 by the Colorado Retail Council.
 NFIB, with more than 500,000 members and offices in all 50 states, is the country's largest small business advocacy organization.
 -0- 1/23/92
 /CONTACT: Ron Smith of the National Federation of Independent Business, 303-860-1778; or Alan Maltun of Braun Ketchum, 213-385-3481, for the NFIB/ CO: National Federation of Independent Business (NFIB)/Colorado ST: Colorado IN: SU:


EH-JL -- LA011 -- 2707 01/23/92 10:31 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 23, 1992
Words:314
Previous Article:CENTURA BANKS INC. DECLARES FIRST QUARTER DIVIDEND
Next Article:WORLD ACCEPTANCE CORPORATION ANNOUNCES THIRD QUARTER RESULTS
Topics:


Related Articles
Business federation's survey says GST has taken huge toll.
SMALL BUSINESSES RATE DEFICIT REDUCTION AND HEALTH CARE REFORM TOP ECONOMIC PRIORITIES FOR LAWMAKERS; COOL TO SHORT-TERM ECONOMIC STIMULUS
SMALL BUSINESS OWNERS BLAST DEMOCRAT'S TAX BILL
SMALL BUSINESS APPLAUDS TAX RELIEF PACKAGE; STILL OPPOSES PROPOSED STARTING WAGE INCREASE
Small businesses win in 'business friendly' legislative session.
The tax gap: no "new" taxes doesn't mean no pain for small business.
Get your piece of the pie: the American Recovery & Reinvestment act decoded for small business owners.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters