Posted: May 2, 2010 9:52 AM by Associated Press
Updated: May 2, 2010 9:52 AM
Satisfying your sweet tooth with candy or soda will start costing a little more in Colorado.
A state sales-tax exemption on the items ends Saturday and customers can expect to begin dishing out a few extra cents. Colorado lawmakers approved a package of bills this year that included ending the tax breaks as part of a plan to help with a state budget shortfall. The tax on candy and soda is expected to bring in an estimated $18 million annually.
Republicans opposed eliminating the tax breaks, saying it could hurt businesses and the economy.
The elimination of the tax break translates to a 2.9 percent state sales tax increase for soda and candy.