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Committee tables bill to exempt digital and securities services from gross revenue tax pending agency review
Summary
House Bill 24-58, which would exempt certain services and sales of securities from the gross revenue tax to attract digital and financial-sector businesses, was tabled after members requested comment from the Department of Commerce, the governor's economic council and other stakeholders.
The House Committee on Ways and Means agreed to table House Bill 24-58 after members said key agencies and advisory groups had not submitted comments. Representative Angelo, the bill author, described the measure as an incentive to attract businesses in the global digital economy, including remote services, consulting, subscription platforms and certain manufacturing activity.
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