Copy
Upcoming Seminar: Impact of the Tax Cuts & Jobs Act of Auto Dealers
Now about that important number – 71.8 percent

Light truck category as a percentage of overall Colorado sales hit a new all-time high in 2017, at 71.8 percent. That is up from 66.7 percent in one year (2017 v 2016), up by more than five percent in just one year and up by 16.3 percent in just nine (9) years. By comparison, nationwide the light truck category was 64.9 percent, up from 47.6 percent as recently as 2009. So, Coloradans by light trucks v cars at a rate of seven percent higher than US population.
Upcoming Events & Seminars
Impact of the Tax Cuts & Jobs Act on Auto Dealers
______________________________

The most-sweeping overhaul to our tax code in 30 years was signed into law December 22, 2017 in the form of the Tax Cuts & Jobs Act. Nearly every taxpayer in the country will be affected by this legislation.

And while the bill includes an NADA-led amendment to preserve 100 percent deductibility of interest on floor plan loans, many of the final legislation’s provisions deal with complex areas of taxation that could affect your dealership’s — and your — bottom line.

It’s why CADA asked EKS&H to develop this important and timely seminar for you, your CFO and your controller.

You’ll learn:
  • What the 20 percent qualified business income deduction on some dealerships mean to those businesses
  • New business interest expense limitation
  • Exemption for floor plan interest and its e ect on your 2018 taxes
  • Impact of the $500,000 business loss limitation to dealer owners
  • Changes to individual and corporate tax rates
  • Changes to deductibility of meals and entertainment expenses
  • Changes to estate and gift taxation
Register now!
When & Where

Tuesday, February 13
Denver
William D. Barrow Building - CADA Headquarters
290 E. Speer Blvd.
Denver 80203
7:30 a.m. Breakfast and networking
8 – 9:30 a.m. Presentation, Q&A
Get the details!
Title Processing Fundamentals
February 14th, 2018
______________________________

Back by popular demand, Title Processing Fundamentals is designed for dealership title clerks and processors with fewer than six months’ experience — or as a refresher for title clerks, controllers and office staff. This this 2.5-hour seminar recaps DMV requirements and updates, including:
  • Latest rules on new temporary registration permits — and your ability to issue a second permit
  • Electronic Lien Titling (ELT) — How it works & updates
  • Recent state law clarification for lien perfection requirements
  • Sales & use tax recap and reform efforts
  • Out-of-state sales and title transfers
  • Unusual titling situations
  • Repossessions & ELT requirements
  • Secure Power of Attorney
  • Power of Attorney/trust documents, dates & lien releases
  • County rejects and reading a registration
  • Q&A — Bring examples or issues you want to cover
These classes fill up fast!
Register today
When & Where

Wednesday,  February  14
Denver
William D. Barrow Building - CADA  Headquarters
290  E.  Speer  Blvd.
Denver  80203
7:30  a.m. - Breakfast  and networking
8  –  10:30  a.m. - Presentation
Get the details!
Automotive News...
Colorado Springs Is Reaping the Benefits of Volkswagen Settlement
Mazda pitches Skyactiv-3 engine tech to rival EVs
Truck, SUV automobile sales continue to outpace cars in November
Autonomous Vehicles
It’s 2018, so where are the self-driving cars?
Two ex-Google engineers built an entirely different kind of self-driving car
How Silicon Valley startup Nuro envisions delivery van of the future
Waymo, FCA expand partnership to 'thousands' of Chrysler Pacifica minivans
Tesla
Tesla, denying report, says Model 3 output on track
A key Tesla engineer who helped design batteries has left the company
Want the Scoop on Tesla’s Model 3? That Will Cost You $500,000
- -  CLICK BELOW FOR MORE AUTOMOTIVE NEWS  - -
Bonds & Forms
CADA has a fillable bond request form for new sales people! This new, fillable PDF form makes it easier, faster and more accurate for us to turn around your salesperson bond request. Because there’s no handwriting to decipher with this form, bond turnaround can be faster than ever. Just download the form, electronically fill it out and return to Khorrie Luther (khorrie.luther@colorado.auto). Questions? Call Khorrie: 303.457.5122.
Download the form
Contact Khorrie
Regulatory & Compliance
Coalition to Simplify Colorado Sales Tax and HB18-1022
By Matthew Groves, VP Regulatory & Compliance

Two years ago, CADA became involved with the Coalition to Simplify Colorado Sales Tax as a means to correct the complicated, and often times unnavigable, maze of county, regional, and local entities with the ability to impose a sales tax.

In 2016, the coalition passed SB16-36, which prohibited the state from making a taxpayer pay an assessment before appealing the assessment, which deprived the taxpayer his day in court. In 2017, HB17-216 created the Legislative Sales and Use Tax Simplification Tax Force, which is investigating alternatives to the current method of collection.

In the first month of the 2018 term, the Coalition has not only introduced HB18-1022, requiring the Department of Revenue to issue a Request for Information (RFI) for an electronic sales & use tax simplification system, they have also ushered the bill through the Business Affairs and Labor Committee and past a vote of the floor of the House of Representatives.

HB18-1022 was sponsored by Representatives Sias and Kraft-Tharp in the House. It passed by a vote of 62 Ayes to 1 No, with two members not voting. It now heads to the Senate, where it has been sponsored by Senators Neville and Jahn.

The collection of sales and use taxes has long been a vexing problem for dealers. Even when within the safe harbor provided by the State, by virtue of using a certified tax locator service, we have seen increasing numbers of rejections from the counties, accounting for 20-30% of all rejections. Improper tax location is the number one reason for rejection on these title applications. CADA applauds the success of the coalition and is hopeful that this RFI will uncover a simpler method of collection that will reduce rejections and facilitate quicker sales.

If you have any questions please send me an e-mail
(matthew.groves@colorado.auto) or call: 303.282.1449.
More Events & Seminars
Did you miss the Military Lending Act webinar?

Good news! The webinar is available on demand from CADA, ready for you to attend at your own convenience! To get the webinar, click here.
ENDORSED PROVIDER / PROGRAMS

For information about any of the Endorsed Provider’s products or services, contact
Polly Penna polly.penna@colorado.auto 
303.457.5119 office  |  303.945.6426  mobile

colorado.auto
Twitter
YouTube
Facebook
Copyright © 2018 CADA, All rights reserved.

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list