Colorado Takes Bold Stand Against Corporate Tax Evasion with New Laws Closing Loopholes and Protecting Essential Services
DENVER, Colo. — Governor Jared Polis has approved two significant pieces of legislation aimed at mitigating the impact of a $1 billion budget shortfall created by corporate tax cuts enacted by Congress. The new laws are designed to protect essential state services while addressing loopholes that have allowed corporations to significantly reduce their tax burdens. One of the measures, House Bill 25B-1002, targets foreign tax havens and offshore accounts, making it more difficult for U.S. companies to evade paying taxes on assets held abroad. The second piece of legislation, House Bill 25B-1001, restricts tax incentives … Read more