City of Steamboat Springs hosting free sales tax seminar for nonprofits Thursday
February 26, 2014
Steamboat Springs — The city of Steamboat Springs on Thursday will host a financial workshop on a topic that generates a lot of phone calls at City Hall.
Attendees of the hourlong meeting will find out what responsibilities local nonprofits have in collecting city sales tax.
“We get a lot of questions about it in our offices, and it seems there’s a lot of misconceptions about that part of our sales tax code,” Finance Director Kim Weber said Wednesday. “The biggest misconception is that nonprofits don’t have to collect sales tax.”
She said nonprofits with a sales tax exemption do not have to pay sales tax when they purchase items, but they are required to collect and remit sales tax on items they sell for fundraising purposes.
This includes tickets for fundraising functions.
The exception comes when some nonprofits receive exemptions for a signature fundraising event.
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Weber and city staff will go into more detail on the tax code at the workshop.
The workshop runs from 2 to 3 p.m. in Citizen’s Hall and is a partnership among the city, the Yampa Valley Community Foundation and Routt County United Way.