§ 39-28.6-106 — Books and records to be preserved

Colorado § 39-28.6-106

• Jurisdiction: Colorado
• Title 39: Taxation
• Art.: Nicotine Products Tax

Text

(1) Every distributor shall
keep at each licensed place of business complete and accurate records for that
place of business, including itemized invoices of nicotine products held, purchased,
manufactured, brought in or caused to be brought in from without the state, or
shipped or transported to retailers in this state, and of all sales of nicotine products
made, except sales to the ultimate consumer within the state.

(2) The distributor's records must show the names and addresses of
purchasers, the inventory of all nicotine products on hand, and other pertinent
papers and documents relating to the purchase, sale, or disposition of nicotine
products.

(3) When a licensed distributor sells nicotine products exclusively to the
ultimate consumer within the state at the address given in the license, no invoice of
those sales is required, but the licensed distributor shall make itemized invoices of
all nicotine products transferred to other retail outlets owned or controlled by that
licensed distributor. A distributor shall preserve all books, records, and other
papers and documents required by this section to be kept for a period of at least
three years after the date of the documents, unless the department, in writing,
authorizes their destruction or disposal at an earlier date.

(4) (a) Every retailer that is not also a licensed distributor shall keep at its
place of business complete and accurate records to show that all nicotine products
received by the retailer were purchased from a licensed distributor. The retailer
shall provide a copy of such records to the department if so requested. The
department may establish the acceptable form of such records.

(b) The general assembly shall appropriate money for any expenses incurred
by the department related to enforcing subsection (4)(a) of this section from the
tobacco tax enforcement cash fund created in section 39-28-107 (1)(b).

Legislative History

Source: L. 2020: Entire article added, (HB 20-1427), ch. 248, p. 1201, � 18, effective January 1, 2021.