SB 20-099

Abstract

The bill changes the dollar threshold for economic nexus for purposes of retail sales made by retailers without physical presence in the state from $100,000 to $200,000. Current law temporarily allows small retailers with physical presence in the state that have retail sales of $100,000 or less to source sales to the business' location regardless of where the purchaser receives the tangible personal property or service, thus providing an exception to the sales tax sourcing rule. The bill changes this threshold to $200,000 or less in retail sales and makes the exception permanent.(Note: This summary applies to this bill as introduced.)