- Figure the Combined Sales Tax Collected
Take your gross taxable receipts (GTR) and subtract out gross taxable receipts divided by 1 + the current combined sales tax rate (CCSTR). Effective January 1, 2001 the current combined sales tax rate for the state of Colorado, the City of Fort Collins, and Larimer County is 6.70%.
GTR - (GTR/1 + CCSTR) = Combined Sales Tax Collected (CSTC)
- Figure the State, County and City Sales Tax Collected.
Multiply the resulting combined sales tax collected by the following percentages to get the state, county and city sales tax collected.
Colorado state sales tax collected = CSTC x 43.3% (.029/.029+.03+.0080)
City of Fort Collins sales tax collected = CSTC x 44.8% (.03/.029+.03+.0080)
Larimer County tax collected = CSTC x 11.9% (.0080/.029+.03+.0080)
- Sample Calculation
Example: Gross Taxable Receipts (GTR) = $2,000
Step 1: Figure the Combined Sales Tax Collected:
Combined Sales Tax Collected (CSTC)
= GTR - (GTR/1 + CCSTR)
= 2,000 - (2,000/1 + .0670)
= $ 125.59 Combined Sales Tax Collected
Step 2: Figure the State, County and City Sales Tax Collected
Colorado Sales Tax Collected:
= CSTC x 43.3%
= $125.59 x 43.3%
= $ 54.38
City of Fort Collins Sales Tax Collected:
= CSTC x 44.8%
= $125.59 x 44.8%
= $ 56.26
Larimer County Sales Tax Collected:
= CSTC x 11.9%
= $125.59 x 11.9%
= $ 14.95
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