Denver's tech sector is hot, with virtually no unemployment. So it's no wonder that Denver is encouraging more tech companies and tech job seekers to move to Denver in any way it can.
On Nov. 5 Denver issued an
updated tax guide that specifically addresses the city's sales and use tax on data processing programs in many areas, including software. The updated tax code was designed with the input of the Colorado Technology Association and other stakeholders to help encourage more IT companies to locate in Denver.
"We did a lot of active listening and quickly discovered a lack of clarity in terms of tax issues related to software," says Mayor Michael Hancock said. Much of the issues were related to the rapidly changing software industry, which now includes cloud computing and app development.
"Our culture of ingenuity provides people the opportunity to turn concepts into reality," Hancock explains. "This new guide gives a clearer picture for our software firms and business community, enabling them to continue their successful growth here in Denver."
"While the updated tax guide does not change the city's tax policy, it does provide a deeper understanding of the imposition of the city's sales and use tax on the purchase price or charge for data processing programs," says Cary Kennedy, Denver CFO. "The guide clarifies when a taxable event occurs, and it contains several new hypothetical software development examples."
To explain and discuss the changes CTA and the city are hosting a town hall meeting Nov. 17 at 1:15 p.m. at
INDUSTRY, 3000 Brighton Blvd.
Contact Confluence Denver Innovation & Jobs News Editor Chris Meehan with tips and leads for future stories at chris@confluence-denver.com.
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