As a public institution of higher education, the University of Colorado Colorado Springs is exempt by law, from all federal excise taxes and from all Colorado State and local government sales and use taxes when purchasing goods and/or services in the conduct of official University business. (IRS 48.4221-5 and C.R.S. 39-26-114(a) and 203) It is not required that governmental entities present a Colorado issued tax-exemption number in order to make a tax exempt purchase.
|FEIN Number: 84-6000555
Federal Excise Tax Exemption Register Number: 84-730123K
State of Colorado
State Tax Exempt Number: 98-02565-0000
City of Colorado Springs
City License Number: E00001021
PSC Tax Exempt Status: https://www.cu.edu/psc/tax-exempt-status-0
State of Colorado Certificate: https://www.cu.edu/psc/policies/state-colorado
Unrelated Business Income Tax (UBIT):
If an exempt organization regularly carries on a trade or business not substantially related to its exempt purpose, except that it provides funds to carry out that purpose, the organization is subject to tax on its income from the unrelated trade or business.
Due to the recent tax reform to the UBIT reporting we are updating our processes and procedures, however, look at some broad guidelines published by the OUC:
When selling tangible goods you need to collect sales tax and issue a receipt with the total cost and the sales tax listed separately.
Link to sales tax calculator:
Once your sale is complete or monthly if ongoing contact Mary Lile to process the sales tax liability.
Last Reviewed on 7/1/2018