(1) Every remote seller shall, on or before the twentieth day of each month, make an electronic return to the executive director of the department of revenue for the preceding calendar month and electronically make such remittance as specified in section 39-26-105 (1)(c)(I)(B). A remote seller's returns, or the returns of a remote seller's duly authorized agent, must contain such information and be made in such manner and upon such forms as specified in this section.

(2)

(a) The collection, administration, and enforcement of the local taxing jurisdiction sales tax under section 39-26-104 (2) shall be performed by the executive director of the department of revenue in the same manner as the collection, administration, and enforcement of the Colorado state sales tax.

(b)

(I) The central audit bureau created in subparagraph (II) of this paragraph (b) shall be the sole entity within the state that is responsible for auditing remote sellers. Notwithstanding any other provision of law, no local taxing authority shall have the authority to audit any remote seller.

(II) The department of revenue and local taxing jurisdictions shall coordinate in the development of the central audit bureau and shall share in the costs and staffing of the bureau. The funding and staffing of the central audit bureau shall be sufficient to audit remote sellers.

(3) The executive director of the department of revenue shall at no charge administer, collect, and distribute any sales tax imposed by any local taxing jurisdiction on a remote sale authorized by section 39-26-104 (2). The executive director shall make monthly distributions of sales tax collections to the appropriate official in each local taxing jurisdiction.

(4)

(a) Notwithstanding the provisions of section 39-21-113, the executive director of the department of revenue shall report monthly to each local taxing jurisdiction for which the department of revenue collects a sales tax, information identifying remote sellers making sales within the local taxing jurisdiction and, where the chief administrative officer or his designee has executed a memorandum of understanding with the department of revenue providing for control of confidential data, the status of each remote seller's account including the amount of such local taxing jurisdiction's sales tax collected and paid by each such remote seller. The executive director of the department of revenue may, in his or her discretion, provide additional information to a local taxing jurisdiction concerning collection and administration of such local taxing jurisdiction's sales tax if such a memorandum has been executed.

(b) Except in accordance with judicial order or as otherwise provided by law, no official or employee of a local taxing jurisdiction receiving sales tax information from the department of revenue pursuant to this subsection (4) shall divulge or make known to any person not an official or employee of such local taxing jurisdiction any information that identifies or permits the identification of the amount of sales taxes collected or paid by any individual remote seller. The officials or employees of any local taxing jurisdiction charged with the custody of such sales tax information shall not be required to produce any such information in any action or proceeding in any court except in an action or proceeding under the provisions of this article to which the local taxing jurisdiction having custody of the information is a party, in which event the court may require the production of, and may admit in evidence, so much of said sales tax information as is pertinent to the action or proceeding. Any official or employee of the local taxing jurisdiction who willfully violates any of the provisions of this subsection (4) is guilty of a misdemeanor and, upon conviction thereof, shall be punished by a fine of not more than one thousand dollars and shall be dismissed from office.

(5) The executive director of the department of revenue shall prescribe a standard electronic sales tax reporting form for remote sales. Such form shall be separate from the state form and shall be the only sales tax reporting form required to be used by any remote seller. Such form shall allow a remote seller to report all sales and use taxes collected for a local government on such form.

(6) If any sales tax to be distributed pursuant to this section is not distributed within sixty days after the processing date, interest shall be added to the undistributed amount from the sixtieth day after the processing date until the date such sales tax is distributed. The rate of said interest shall be equal to the average rate, rounded to one one-thousandth of a percent, being earned by the investment of moneys in the state treasury for the same period.