Tag: Tax
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Estes Park man pleads guilty to defrauding IRS of nearly $45 million
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Facebook Twitter WhatsApp SMS Email Print Copy article link Save An Estes Park man pled guilty on Thursday to defrauding the U.S. government of nearly $45 million using an illegal tax shelter. Timothy McPhee faces a maximum total sentence of up to 30 years in prison for promoting a fraudulent tax shelter made up of…
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Colorado dentist sentenced to 41 months for tax evasion scheme
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Facebook Twitter WhatsApp SMS Email Print Copy article link Save A Colorado dentist has been sentenced to over four years in prison for a tax evasion scheme that concealed over $5 million in income. Ryan Ulibarri, who owned and operated Ulibarri Family Dentistry in Fort Collins since 2014, used an illegal tax shelter to not only…
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City of Boulder freezes hiring for vacant positions amidst potential budget shortfall
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Facebook Twitter WhatsApp SMS Email Print Copy article link Save The Boulder city government has put an immediate freeze on hiring for vacant, nonessential jobs for the remainder of the year amid concerns about an $8-10 million budget shortfall. The decision, one of several the city has proposed to make up the spending gap, comes…
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Denver Health poised to gain $70 million annually
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Denver voters backed a sales tax increase designed to provide more money to Denver Health, the city’s safety net hospital system. Though votes were still being counted, the margin in favor of the tax hike was sizable at roughly 13 points, with 155,698 votes supporting the measure out of 275,723 counted so far, according to…
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Here’s how the sales tax in Denver works
What exactly is taxed in Denver? The City and County of Denver imposes a 4.81% sales tax on pretty much everything a consumer buys. Add to that regional and state taxes, and it all comes out to 8.81%. Here are the additions: The state levies a 2.9% rate, the Regional Transportation District adds a 1%…
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Denver revenue forecast declines amid increase in spending, decrease of sales tax income
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Facebook Twitter WhatsApp SMS Email Print Copy article link Save The Denver Department of Finance informed a City Council committee the city will have even less money available for the 2025 general fund after revising revenues from this year. The change is partly driven by slumping or stagnant sales tax revenues, which provide more than…
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Audit: Dozens of Colorado’s tax deductions, exemptions are underused
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Dozens of Colorado’s tax deduction and exemption programs are being underused, with many having absolutely no use at all, according to a new state audit. The Office of the State Auditor released its fifth annual tax expenditure compilation report on Friday, detailing individual evaluations of 48 tax expenditures, including various tax credits, exemptions and deductions.…
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Denver, four other cities sue Colorado over tax exemption for school building materials
Facebook Twitter WhatsApp SMS Email Print Copy article link Save Five Colorado cities, including Denver, filed a lawsuit against the state Thursday over a new law that exempts building materials used for public schools from sales taxes, arguing it would decrease their revenue base by millions of dollars. Denver, Boulder, Commerce City, Pueblo and Westminster…
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House committee approves bill exempting nonprofit child care centers from property tax
Facebook Twitter WhatsApp SMS Email Print Copy article link Save Nonprofit child care centers in Colorado wouldn’t have to pay property taxes under legislation a state House committee advanced on Tuesday in the hopes of reducing costs and improving access. House Bill 1006 aims to modify current law that allows property owned and operated by nonprofit child…