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Welcoming Texans with open coffers

There may be a large benefit from the long-term stays by the tourists and second-home owners to the state of Colorado because anyone staying more than six months must become a Colorado taxpayer. The Colorado Department of Revenue defines a resident as a “natural person who is domiciled in Colorado. A resident individual can also be a natural person who maintains a fixed dwelling within Colorado and who spends in the aggregate more than six months of the taxable year within Colorado.”

All those people who have moved from Texas to avoid the virus and plan to stay though the end of the year, as well as the residents of California and Florida who have done the same, will be required to pay taxes to Colorado just like you and me, if they obey the law.

To help assure compliance, everyone should welcome the new residents, rather than complaining about them. We should also thank them for paying taxes as Coloradans, noting that the Colorado Department of Revenue has been made aware of their move to the state.

Welcome to the state. Thanks for helping the state address its revenue shortage.

Philip Verleger

Denver


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