Legislative Update

Colorado FET Exclusion Law Guidance

The State of Colorado is working with TRALA to develop guidance for the implementation of a new law passed in 2008 that would require lessors to exclude the 12% Federal Excise Tax paid on a vehicle at the time for purchase from any lease payments. TRALA and its Tax Advisory Committee are meeting with the state’s Department of Revenue to try to reduce the administrative burdens of implementing this new law.