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Legislative Update Details

HB18-1350 Machine Tool Sales Tax Exemption For Scrap Metal

CONCERNING THE SALES AND USE TAX TREATMENT OF EQUIPMENT USED TO MANUFACTURE NEW METAL STOCK FROM SCRAP OR END-OF-LIFE-CYCLE METALS

View the Official Bill

Status

05/04/2018 Senate Third Reading Passed – No Amendments

Sponsors

KRAFT-THARP/PRIOLA

Summary

Purchases of machinery or machine tools to be used in Colorado directly and predominantly in manufacturing tangible personal property are currently exempt from state sales and use tax. Manufacturing is currently defined to include the processing of recovered materials. The bill expands the definition of recovered materials to include materials that have been derived from scrap metal or end-of-life-cycle metals for remanufacturing, reuse, or recycling into new metal stock that meets applicable standards for metal commodities sales.
(Note: This summary applies to this bill as introduced.)

This entry was posted on Friday, May 4th, 2018 at 10:55 am