Tax Break For Small Businesses Passes First Committee

(Denver, CO) -- A measure that would give more of Colorado's small businesses a tax break is clearing its first committee hurdle. The bill would apply to owners with up to 25-thousand-dollars in business personal property. It would provide credits and deductions to offset the taxes involved. Business personal property is equipment or other items owned by the company. It does not include real estate. The limit is currently seven-thousand-dollars before taxes kick in. The bill now moves over to the House Finance Committee after passing the first panel yesterday.