@AndyKnny @fishnette An income tax refund is taxable. TABOR refunds are specifically sales tax refunds so they are not taxable - or at least that is the theory. It all comes from the General Fund so you could call them either.
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larson silbaugh
147 posts
@fishnette Right — like, the delivery method changed, but it’s still the same concept. Tax revenue the state has not allowed itself to keep.
Question is though… are we the outlier caught up with the other states? Or did they all also describe it as a tax refund?
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I’d be shocked if the IRS ends up taxing TABOR refunds. It seems like the legal debate is murky at best. The costs would be painful for many, and the blowback would be huge… especially to do it so this late in the game.
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@BrakeyshiaSamms @OhioTaxation The Federation of Tax Administers has this page of research links for other state tax agencies. taxadmin.org/state-research…
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Wow! I am doing some multistate tax research and I just wanted to shoutout @OhioTaxation for having a section strictly for researchers! That's a rarity that this researcher appreciates! Definitely made it easier to find what I was looking for! #ThankYOU #TaxTwitter
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You hear ten loud bangs coming from the inside of the Capitol. When you return, the floor of the safe is missing and you look down. The diamond and other valuables are zipping away on a train cart into the tunnel that Nic Cage dug below the Capitol. John Travolta is also there.
Colorado Department of the Treasury@CoDeptTreasury
We were thankful to CSP for escorting Treasury staff back into the secured room where valuable tangibles were displayed.
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@jeremyjojola Nice! Fill it with the play sand. It’s way better than the generic sand.
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@whereisphibs @JesseAPaul It is hard to say. About 10 years ago there was a study in Wisconsin comparing property taxes and the propensity to move. They concluded they people move for many different reasons but not because of property taxes.
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@JesseAPaul Have you ever seen a stat cited that says how many people are truly burdened with increased cost of property taxes? I know there is a portion of the population on limited fixed income, but what % of homeowners are we really talking about?
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NEW: Colorado’s high-stakes property tax battle ends dramatically as opposing sides agree to embrace $700M reduction cosun.co/3kQ3HrO #copolitics #coleg
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@JCRiecke @JesseAPaul @alex_burness This impacts property taxes at the local level, so it is a different ballgame than the state general fund. It could impact future collections for local governments but most have already de-bruced.
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@iansilverii @BellPolicy 110, 144, 149, and 151 also have titles.
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Andy's Twitter campaign to get me to agree to a Purplish on property tax initiatives is definitely starting to win me over...
Andrew Kenney@AndyKnny
Quick 🧵: Colorado progressives go on offense with 'luxury' property tax ballot initiatives. A few new proposals, but they all aim taxes and fees at properties with real value over $2 million. They aim to raise $400M in annual revenue.
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@JonMurray @GovofCO My new license was issued 12/3/2021 and has the new design.
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Oh look, the myColorado app scooped @GovofCO, it seems. Presenting what looks to be Colorado’s new driver’s license:
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Today Colorado is unveiling its new driver’s license design. Here’s hoping we continue to move farther away from designs that look like they were made on 1998-era Microsoft Publisher.
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@ConorMichael28 @karanormal And do they need to pass a law to do this? Can a state get a wallet?
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Governor Jared Polis just said on the ETHDenver stage that Colorado will become the first state to accept crypto currencies for payment of state taxes and fees. Polis says the system will be up and running by this summer.
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Need wings for the smoker for tomorrow’s Bills game. Sprouts, Safeway, and Whole Foods near the house are out. Can I get a ruling on crossing the picket line at King Soopers for this kind of dire emergency?
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QME
@cprwarner @GovofCO @ColoradoMatters @jaredpolis Is it too late to get in a question about the propublica story about Gov Polis’ taxes?
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What would you like us to ask @GovofCO?
Gov. Polis will be on @ColoradoMatters Thursday — after an election and the release of his proposed budget. As always, your questions help shape our conversations with @jaredpolis.
#copolitics
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@meganschrader @Hickenlooper @MichaelBennet What about increasing the IRS enforcement budget + information reporting?
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Put a cap on business loss deductions at around $200,000; limit the carryforward to 2 years; tax income taken as stock options; remove the stepped-up basis at death. @Hickenlooper @MichaelBennet denverpost.com/2021/10/26/bil…
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@MaartenvSmeden As you can clearly see, gun deaths increased after 2005.
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