Before you read
These are general answers to common questions, not advice for your specific situation. Penny can point you to the right page, and a quick call gets you an answer for your exact case.
Common questions
Who has to pay the Denver occupational privilege tax?
Employees who earn at least $500 in a month from one employer for work in Denver ($5.75/month, withheld), and businesses for each taxable employee and each owner, partner or manager working in Denver ($4.00/month each).
What is Denver's sales tax rate?
The city rate is 5.15%. Combined with state and district taxes, the general Denver sales and use rate is 9.15%. Some items, like food and beverages and short-term lodging, have different rates.
Do I file Denver sales tax with the state?
No. Denver is a home-rule city that administers its own sales and use tax, so Denver businesses file with the city.
How much does a Denver bookkeeper cost?
It depends on transaction volume, the number of accounts and whether the books need cleanup first. Monthly bookkeeping is usually a flat fee once the scope is set.
Should my Denver LLC become an S-corp?
Possibly, once profits are steady and high enough to justify a reasonable salary and the added payroll and filing costs. Run a projection before electing.
When are quarterly estimated taxes due?
Generally April 15, June 15, September 15 and January 15 of the following year, shifting to the next business day when needed.
Do short-term rental hosts in Denver owe extra tax?
Generally yes: Denver requires an STR license and charges a lodger's tax on short-term stays, on top of reporting the income on your returns.
What records should a Denver business keep?
Bank and card statements, receipts, invoices, payroll records, sales tax returns and asset purchase records. Many accountants recommend keeping business records for seven years.