COLORADO SPRINGS — Gov. Jared Polis signed an executive order on March 20, extending the state tax payment deadline from April 15 to July 15.
The extension gives Colorado taxpayers an extra 90 days to complete payments with no penalties. This applies to "all businesses, all individuals, all filers," according to Polis.
"That goes further than the federal order. We know that many individual taxpayers and businesses have difficulty with this COVID disruption," he said.
In the executive order, it states: "The economic impacts of COVID-19 are significant, and threaten to undermine the economic stability of many Coloradans and local businesses."
"This is a critical step that'll help our businesses and families keep more money in their pockets while we weather this crisis," Polis said.
Coloradans will also have until May 15 for their state severence taxes after Polis extending the state of emergency declaration. This is a one-time extension on the severence taxes, according to a release.
The Internal Revenue Service also announced on March 20 that the federal tax filing deadline is moved from April 15 to July 15.
"All taxpayers and businesses will have this additional time to file and make payments without interest or penalties," Treasury Sec. Steve Mnuchin said.
For more detail on Polis' executive order, click here.
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