us-co/statute/39/39-28-103.3 — Inventory tax

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us-co/statute/39/39-28-103.3 — Inventory tax - definition · Axiom

(1) As used in this section, Colorado tax stamp means a stamp that is affixed to, or an imprint or impression by a suitable metering machine approved by the department on a package containing cigarettes as evidence of the payment of tax imposed by this article 28, excluding the tax set forth in this section.

(2) After January 1, 2022, in addition to any other tax imposed under this article 28 or section 21 of article X of the state constitution, there is levied a tax on cigarettes in a wholesaler's or wholesale subcontractor's possession or control that have a Colorado tax stamp that applies any time that the cigarette tax is increased. The tax is equal to the difference between the tax paid for the Colorado tax stamp currently affixed to a package of cigarettes and the tax that will be owed for the same Colorado tax stamp after the increase in the tax imposed per cigarette. It is unlawful for any person to affix a Colorado tax stamp on or after 12:01 a.m. on the day that a rate increase will take effect, to a package of cigarettes that reflects payment of the tax imposed prior to the increase. Any unaffixed stamps may be redeemed for credit pursuant to section 39-28-104 (3).

(3) (a) After January 1, 2022, a wholesaler shall take an inventory of all packages of cigarettes with a Colorado tax stamp affixed thereto and of all unaffixed Colorado tax stamps in the wholesaler's possession or control as of 12:01 a.m. on the day that a rate increase will take effect.

(b) After January 1, 2022, a wholesale subcontractor shall take an inventory of all packages of cigarettes with a Colorado tax stamp affixed thereto in the wholesale subcontractor's possession or control as of 12:01 a.m. on the day that a rate increase will take effect.

(4) Every wholesaler and wholesale subcontractor shall file a report, on a form created by the department, of the inventory identified in accordance with subsection (3) of this section and pay the tax imposed under this section for the inventory. A wholesaler shall separately identify the number of packages with a Colorado tax stamp and the unaffixed Colorado tax stamps. The wholesaler or wholesale subcontractor shall remit the tax payment on or before the tenth day of the month following the required inventory. If payment is made on or before the due date, the wholesaler or wholesale subcontractor may deduct three percent of the tax imposed under this section, but, if any wholesaler or wholesale subcontractor is delinquent in remitting such payment, other than in unusual circumstances shown to the satisfaction of the executive director of the department, the wholesaler or wholesale subcontractor shall not be allowed to retain any amounts to cover the expense in collecting and remitting the tax and the penalty imposed under section 39-28-108 (2) applies.

(5) The department may require wholesalers and wholesale subcontractors to use electronic funds transfers to remit tax payments due under this section and may require wholesalers and wholesale subcontractors to file tax returns electronically. The department may promulgate rules governing electronic payment and filing.

in view

Whole section

Encodings · 6

colorado_tax_stampCO 39 § 39-28-103.3 · derived

C.R.S. § 39-28-103.3(1)

name: colorado_tax_stamp
kind: derived
entity: Asset
dtype: Judgment
period: Day
source: C.R.S. § 39-28-103.3(1)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: definition
        source:
          corpus_citation_path: us-co/statute/39/39-28-103.3
versions:
  - effective_from: '2022-01-02'
    formula: >-
      package_contains_cigarettes

      and (colorado_tax_stamp_is_affixed_to_package or
      department_approved_metering_imprint_is_on_package)

      and
      stamp_or_imprint_evidences_payment_of_article_28_tax_other_than_this_section_tax

cigarette_inventory_rate_increase_taxCO 39 § 39-28-103.3 · derived

C.R.S. § 39-28-103.3(2)

name: cigarette_inventory_rate_increase_tax
kind: derived
entity: Asset
dtype: Money
unit: USD
period: Day
source: C.R.S. § 39-28-103.3(2)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us-co/statute/39/39-28-103.3
          excerpt: >-
            The tax is equal to the difference between the tax paid for the
            Colorado tax stamp currently affixed ... and the tax that will be
            owed ... after the increase.
versions:
  - effective_from: '2022-01-02'
    formula: >-
      if colorado_tax_stamp and
      cigarette_package_is_in_wholesaler_or_wholesale_subcontractor_possession_or_control
      and cigarette_tax_rate_is_increased:
        max(0, tax_owed_for_same_colorado_tax_stamp_after_rate_increase - tax_paid_for_current_colorado_tax_stamp)
      else: 0

timely_remittance_deduction_rateCO 39 § 39-28-103.3 · parameter

C.R.S. § 39-28-103.3(4)

name: timely_remittance_deduction_rate
kind: parameter
dtype: Rate
source: C.R.S. § 39-28-103.3(4)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us-co/statute/39/39-28-103.3
          excerpt: may deduct three percent of the tax imposed under this section
versions:
  - effective_from: '2022-01-02'
    formula: '0.03'

remittance_deadline_day_of_month_following_required_inventoryCO 39 § 39-28-103.3 · parameter

C.R.S. § 39-28-103.3(4)

name: remittance_deadline_day_of_month_following_required_inventory
kind: parameter
dtype: Integer
period: Month
source: C.R.S. § 39-28-103.3(4)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us-co/statute/39/39-28-103.3
          excerpt: >-
            on or before the tenth day of the month following the required
            inventory
versions:
  - effective_from: '2022-01-02'
    formula: '10'

tax_payment_is_timelyCO 39 § 39-28-103.3 · derived

C.R.S. § 39-28-103.3(4)

name: tax_payment_is_timely
kind: derived
entity: CigaretteTaxRemitter
dtype: Judgment
period: Month
source: C.R.S. § 39-28-103.3(4)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us-co/statute/39/39-28-103.3
          excerpt: >-
            remit the tax payment on or before the tenth day of the month
            following the required inventory
versions:
  - effective_from: '2022-01-02'
    formula: >-
      tax_payment_remittance_day_of_month_following_required_inventory <=
      remittance_deadline_day_of_month_following_required_inventory

maximum_timely_remittance_deductionCO 39 § 39-28-103.3 · derived

C.R.S. § 39-28-103.3(4)

name: maximum_timely_remittance_deduction
kind: derived
entity: CigaretteTaxRemitter
dtype: Money
unit: USD
period: Month
source: C.R.S. § 39-28-103.3(4)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us-co/statute/39/39-28-103.3
          excerpt: >-
            If payment is made on or before the due date, the wholesaler or
            wholesale subcontractor may deduct three percent of the tax imposed
            under this section.
versions:
  - effective_from: '2022-01-02'
    formula: |-
      if tax_payment_is_timely:
        timely_remittance_deduction_rate * tax_imposed_under_this_section
      else: 0

▸rulespec code

Shown source

statutes/39/39-28-103.3.yaml

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Rules

colorado_tax_stamp

Derived

source: C.R.S. § 39-28-103.3(1)

- name: colorado_tax_stamp
  kind: derived
  entity: Asset
  dtype: Judgment
  period: Day
  source: C.R.S. § 39-28-103.3(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: definition
          source:
            corpus_citation_path: us-co/statute/39/39-28-103.3
  versions:
    - effective_from: '2022-01-02'
      formula: >-
        package_contains_cigarettes

        and (colorado_tax_stamp_is_affixed_to_package or
        department_approved_metering_imprint_is_on_package)

        and stamp_or_imprint_evidences_payment_of_article_28_tax_other_than_this_section_tax

cigarette_inventory_rate_increase_tax

Derived

source: C.R.S. § 39-28-103.3(2)

- name: cigarette_inventory_rate_increase_tax
  kind: derived
  entity: Asset
  dtype: Money
  unit: USD
  period: Day
  source: C.R.S. § 39-28-103.3(2)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-co/statute/39/39-28-103.3
            excerpt: >-
              The tax is equal to the difference between the tax paid for the Colorado tax stamp
              currently affixed ... and the tax that will be owed ... after the increase.
  versions:
    - effective_from: '2022-01-02'
      formula: >-
        if colorado_tax_stamp and
        cigarette_package_is_in_wholesaler_or_wholesale_subcontractor_possession_or_control and
        cigarette_tax_rate_is_increased:
          max(0, tax_owed_for_same_colorado_tax_stamp_after_rate_increase - tax_paid_for_current_colorado_tax_stamp)
        else: 0

timely_remittance_deduction_rate

Parameter

source: C.R.S. § 39-28-103.3(4)

- name: timely_remittance_deduction_rate
  kind: parameter
  dtype: Rate
  source: C.R.S. § 39-28-103.3(4)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-co/statute/39/39-28-103.3
            excerpt: may deduct three percent of the tax imposed under this section
  versions:
    - effective_from: '2022-01-02'
      formula: '0.03'

remittance_deadline_day_of_month_following_required_inventory

Parameter

source: C.R.S. § 39-28-103.3(4)

- name: remittance_deadline_day_of_month_following_required_inventory
  kind: parameter
  dtype: Integer
  period: Month
  source: C.R.S. § 39-28-103.3(4)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us-co/statute/39/39-28-103.3
            excerpt: on or before the tenth day of the month following the required inventory
  versions:
    - effective_from: '2022-01-02'
      formula: '10'

tax_payment_is_timely

Derived

source: C.R.S. § 39-28-103.3(4)

- name: tax_payment_is_timely
  kind: derived
  entity: CigaretteTaxRemitter
  dtype: Judgment
  period: Month
  source: C.R.S. § 39-28-103.3(4)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-co/statute/39/39-28-103.3
            excerpt: >-
              remit the tax payment on or before the tenth day of the month following the required
              inventory
  versions:
    - effective_from: '2022-01-02'
      formula: >-
        tax_payment_remittance_day_of_month_following_required_inventory <=
        remittance_deadline_day_of_month_following_required_inventory

maximum_timely_remittance_deduction

Derived

source: C.R.S. § 39-28-103.3(4)

- name: maximum_timely_remittance_deduction
  kind: derived
  entity: CigaretteTaxRemitter
  dtype: Money
  unit: USD
  period: Month
  source: C.R.S. § 39-28-103.3(4)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-co/statute/39/39-28-103.3
            excerpt: >-
              If payment is made on or before the due date, the wholesaler or wholesale
              subcontractor may deduct three percent of the tax imposed under this section.
  versions:
    - effective_from: '2022-01-02'
      formula: |-
        if tax_payment_is_timely:
          timely_remittance_deduction_rate * tax_imposed_under_this_section
        else: 0

▸citations (3)

References

This rule cites 3 other rules.

CO 39 § 21inferredCO › Statutes › Title 39 › § 21
CO 39 § 39-28-104 (3)inferredCO › Statutes › Title 39 › § 39-28-104 › (3)
CO 39 § 39-28-108 (2)inferredCO › Statutes › Title 39 › § 39-28-108 › (2)