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Aurora Colorado online Form 1099-S Substitute Form: What You Should Know
It has your reporting period (month, year) and income type of Income Tax Brackets in addition to the tax rate. A common misconception is that a Colorado 1099 is an income tax return; however, it is a Return to Register the Real Property Sales In Colorado. It is a separate tax return that you must file. You can file Colorado 1099S, Sales Tax Withholding Return on Form 1099-S, 1099-INT (Intellectual Property Tax on Commercial Use of Property) from your Colorado Income tax return (i.e., Form 1000 (Form 1000NR)) The Colorado 1099-S form is due for filing on the 20th of the calendar quarter beginning in this tax year. The annual tax return must be filed by January 31 of the following tax year. Sales Tax Return (Form 1000) — Annual, 1040, 1045, 1049, 1051, 1052,1055, 1059, 1067, 1072/1569 Tax Rates & Deductions Sales tax rates for Colorado are based on four categories of taxable property, defined by the Colorado State Tax Commission as follows: Class A — Gross receipts less than or equal to one million dollars per year. Class B — Gross receipts between one million and four million dollars annually. Class C — Gross receipts below four million dollars annually. Sale of tangible personal property sold in Colorado You must include the gross receipts from the sale of tangible personal property in the gross receipts from the sale of tangible personal property. If you have actual property or inventory in which you sell, your gross receipts from sale include the gross receipts you actually receive from that property or inventory. If your gross receipts from sale of any tangible personal property do not include any actual gross receipts, you cannot file an income tax return on Colorado state income tax. A sale of tangible personal property is a transaction where you receive something of tangible personal property in exchange for a tangible personal property of yours. If you are the vendor or the consignor of the property, any gross receipts from the sale must be reported with other gross receipts from other taxable transactions that you had and made during the taxable year in which the sale takes place.
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