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SMALL BUSINESS NEWS

7 Jul 2016

 

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Colorado Universal HealthCare Will Mean Higher Taxes for Businesses

Businesses in Colorado could be seeing seeing significant tax hikes in the coming years.

In November voters in Colorado will be asked in a referendum to vote on creating a state healthcare system called ColoradoCare.  Amendment 69 (also known as Initiative #20)  will be placed on the ballot.

The intent is to create a state-wide healthcare system that will pay for anyone’s healthcare regardless of the patient’s illness or injury.  There will be no deductibles that patients have to pay. 

If approved it will require increases in taxes from many sources that could negatively impact businesses of all sizes.

The measure would tax salaries, wages, tips, rents, interest, dividends, capital gains, social security, pensions, annuities, etc.  A total of $25 billion in state taxes will have to be raised for this initiative.

 
 

Sources:
Initiative #20
Amendment 69


By Wendy Stewart

 

 

 

 

 

 

 

 

 

 
 

 

  
 

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