Machine Tool Sales Tax Exemption For Scrap Metal

Sales and use tax - machinery and machine tools - processing scrap metal. Purchases of machinery or machine tools to be used in Colorado directly and predominantly in manufacturing tangible personal property are currently exempt from state sales and use tax. Manufacturing is currently defined to include the processing of recovered materials. The act expands the definition of recovered materials to include materials that have been derived from scrap metal or end-of-life-cycle metals for remanufacturing, reuse, or recycling into new metal stock that meets applicable standards for metal commodities sales. The act makes an appropriation.
(Note: This summary applies to this bill as enacted.)