Colorado eliminates sales tax on incontinence products, diapers, period products, corrective glasses, contact lenses, and more
Following up on Colorado Governor Jared Polis' June 9, 2022 "100 ways" to save you money initiative, a new landmark bipartisan law (House Bill 22-1055) was signed on August 8, 2022. The effective start date is unclear, but Feminine hygiene/period products and diapers will be indefinitely exempt from state sales and use tax on either August 10, 2022 or January 1, 2023. The new House Bill 22-1055 law codifies:
(2) The following are exempt from taxation under part 1 of this article 26:
(k) All sales of nonprescription drugs or materials when furnished by a practitioner as part of professional services provided to a patient;
and(l) All sales of corrective eyeglasses, contact lenses, or hearing aids; AND
(m) (I) ALL SALES OF PERIOD PRODUCTS PURCHASED ON AND AFTER JANUARY 1, 2023.
The Denver Gazette reported details on the current usage and projected impact House Bill 22-1055 will create earlier:
"Colorado families spend an average of $15 per month on period products per family member who needs them, according to the Women's Foundation of Colorado. For diapers, families spend approximately $75 per month per child. The state estimates the new tax exemption will save Colorado consumers approximately $9.1 million annually."
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Andrew Yi, Khareem Sudlow
