Colorado National Bank of Denver v. Bedford

This appeal involves the validity of the Public Revenue Service Tax Act of Colorado. The act, § 5, imposes upon the services specified in the act, a percentage tax based upon the value of the services rendered or performed by any person subject to its provisions.

Section 5 (c) imposes a tax equivalent to two per cent of the value of services rendered by “banks, finance companies, trust companies and depositories . . .” The person rendering the services “shall be liable and responsible for the payment of the entire amount ...” § 6. He is required to remit all taxes collected and due the state…