Aurora Business Brokers Firm can introduce you to a valuation partner. Identify which assets change hands and how the applicable sales or use tax will be handled before fixing the closing disbursements.
Distinguish operating assets from resale inventory
Colorado’s Department of Revenue identifies DR 0155 for tax on tangible property acquired in the purchase of an existing retail business. Resale inventory is treated separately.
The treatment of a nonretail purchase can differ. Have your CPA confirm the correct return instead of using DR 0155 simply because a business is being sold.
Give the allocation a tax review
Your agreement should identify equipment, inventory and other assets clearly. Purchase price allocation affects more than the headline price and deserves attention before the documents are final.
A seller and buyer can have different preferences about allocation. Ask the CPA and transaction attorney to reconcile the tax treatment with the actual assets and agreed terms.
Treat city reporting as a separate task
Aurora Tax and Licensing has its own guidance for a business purchase. State reporting alone does not resolve the city review.
Keep the asset schedule, allocation and reporting responsibilities together. Confirm current deadlines with the Colorado Department of Revenue and the city. This is not tax or legal advice.