Democratic members of Colorado’s House and Senate on Tuesday announced the introduction of a slew of bills that would reduce corporate tax deductions and sever Colorado’s tax regime from recent federal changes to the tax code.
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Rhonda Sparlin, Colorado partner-in-charge for tax and financial-consulting firm RubinBrown, earlier told The Sum and Substance, the news site of the Colorado Chamber of Commerce, that the tax proposals could impact “future investments and future opportunities in the state.”
Phil Horwitz, a director at Moss Adams and chairman of the Colorado Chamber Tax Council, said the proposal includes changes that are a “huge deal” for the state in the way businesses must calculate and pay taxes. As Colorado is losing ground in national business rankings and a Chamber-commissioned study found it is the sixth-most-regulated state in America, any boost to employers’ tax obligations could make the state less competitive for job expansions, he said.
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