Question

Colorado Use Tax, a form of sales tax, is payable on the transfer of furniture, equipment, etc. Statute places the obligation to pay this tax by the:

1) Buyer
2) Seller
3) Furniture or equipment manufacturer
4) Broker

Answer 1

The Colorado Use Tax is payable by the buyer of furniture, equipment, and other taxable items.

Step-by-step explanation:

The subject of this question is Business. Colorado Use Tax is a form of sales tax that is payable on the transfer of furniture, equipment, and other taxable items. In the case of Colorado Use Tax, the obligation to pay the tax is placed on the buyer of the items, not the seller, furniture or equipment manufacturer, or broker. This means that when a buyer purchases taxable items, they are responsible for remitting the Use Tax to the state of Colorado.