Initial Use Tax Form (Page 2 of 2) in pdf

Initial Use Tax Form Page 2

CITY OF GREELEY, COLORADO

Instructions - Initial Use Tax Form

The INITIAL USE TAX FORM must be completed when an existing business is purchased from a previous

owner, or when opening a new business.

PURCHASED BUSINESS - If you purchased the business from a previous owner, the USE TAX you

owe is 3.46% of the purchase price of the equipment, fixtures, supplies, etc., based on the allocated acquisition

price as stated in the purchase contract, but not less than the fair market value. COMPLETE SECTION A.

NEW BUSINESS - If this is a new business, COMPLETE SECTION B. List vendors from whom you

purchased your equipment, fixtures, furniture, supplies, etc., as shown in the purchase contract. Indicate the

purchase price in the appropriate column, Tax Was Paid or Tax Was Not Paid. Multiply the Tax Was Not Paid

column by 3.46% This is the amount due from your business.

If you lease equipment, fixtures, or furniture, a 3.46% tax is due on the gross amount of the lease.

COMPLETE SECTION C. This amount is to be paid either by you or the lessor over the period of the lease.

List all leases and indicate whether you or the lessor will pay the tax.

If a local sales tax has been paid, but at a rate of less than 3.46% use tax is due on the difference between the

amount of sales tax actually paid and the amount calculated at the rate of3.46%

Please provide a detailed listing for each section that applies to you. If additional space is needed, attach

continuation sheets.

Checks should be made payable to the City of Greeley. This form is due on the 20

day of the month following

the date an existing business in Greeley is purchased. If this is a new business, the form is due on the 20

day of the month following the first day that sales are made or services are provided in Greeley. A late filing of

this form is subject to a 10% penalty of the tax owed, and interest of 1% per month of the tax owed.

Return this form to the City of Greeley, 1000 10

Street, Greeley, CO 80631. If you need assistance in

completing the form, or have questions concerning the use tax, please contact the sales tax office at (970)

350-9733.

After the INITIAL USE TAX FORM has been filed, subsequent purchases should be included on your regularly

filed sales/use tax returns for the City of Greeley. Do not use this form to compute or pay tax on motor

vehicles, trailers, or the tax on materials used in construction of real property or real property improvements

which involve the issuance of a building permit.

Initial Use Tax Form Page 2