What is the law?
El Paso County has announced a Sales Tax Relief Rebate for qualifying restaurants, bars, taverns & food trucks that have experienced revenue declines due to the COVID-19 pandemic.
Qualifying retailers can apply for a rebate of up to $700 a month for sales taxes remitted for the months of July 2020 to February 2021.
In order to be eligible for this rebate, retailers must establish a 5% or greater loss of sales from the third quarter 2019 to third-quarter 2020, based on the remittance of taxes for each of those quarters.
A single retailer may be eligible for this rebate on as many as five total physical locations or mobile food trucks. Businesses must also be current in their sales tax filings & payments.
QUALIFYING ESTABLISHMENTS INCLUDE:
Retailers engaged in selling prepared foods and alcoholic beverages for immediate consumption; bars, restaurants, cafes, food trucks. This does not include offsite catering or any type of sales involving unprepared or frozen foods.
What is the rollout timing of the law?
Qualifying retailers can apply online for a rebate of up to $700 a month for sales taxes remitted for the months of July 2020 to February 2021.
WHERE CAN THE REBATE APPLICATION BE FOUND?
The rebate application can be found HERE. If your municipality is participating in a rebate program, the County will share your application with that municipality. All that is needed to apply for the rebate is a completed application, W-9, and a copy of your most recent State of Colorado sales tax remittance.
How can RASI assist?
In order to apply, you will need a copy of your most recently filed Colorado State Sales Tax Return. Please reach out to your RASI Tax Specialist via Support Request for this.