The Colorado Department of Revenue requires all organizations filing fuel, cigarette or tobacco taxes, retail marijuana sales and excise taxes, withholding of income from an oil and gas interest, employers with annual wage withholding liabilities greater than $50,000.00, and businesses with annual state sales tax liabilities greater than $75,000.00 to pay through Electronic Funds Transfer (EFT). Other individuals and organizations may also choose to pay electronically. Electronic payments offer you a number of benefits:
- The cost and time to write checks is eliminated.
- You know exactly when your account will be debited.
- You are assured that the funds are received on time, every time.
- You may also register to pay other taxes electronically. For all taxes except wage withholding, estimated income, income, income extensions, estimated severance and PUC fixed utility fees you will still need to file a tax return.
- You must file a complete sales and use tax return at the same time you make a sales/use tax payment