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Colorado Personal Income Tax Laws

Most, but not all, states levy a tax on personal income. Some states use a progressive tax that provides different tax brackets based on income levels, as does the federal government, but others have what is called a "flat" tax that applies to all taxpayers regardless of income. States that do not collect income tax typically make up for it in other ways, such as higher sales tax or special taxes on certain items. In any event, these revenues are used to pay for state infrastructure projects, education, police, and other public goods and services.

Overview of Colorado Personal Income Taxes

Colorado collects a 4.63 percent rate on all federal taxable income, regardless of one's income level. You must file a tax return in Colorado if, during the tax year, you were a full-time resident, part-time resident with taxable income during the time you were a resident, or a non-resident of the state with income from a Colorado source.

Additional details of Colorado's personal income tax laws are listed in the following table:

Code Section 39-22-104, et seq.
Who is Required to File Every individual, estate, and trust that is required to file federal return; non- and part-year residents are liable for pro-rata share; all corporations pay same rate as individuals (artnerships are not subject to tax)
Rate 4.63% of federal taxable income; general rate for all taxpayers ("flat" tax); alternative rates may apply
Federal Income Tax Deductible No
Federal Income Used as Basis Yes

Note: State laws are always subject to change through the passage of new legislation, rulings in the higher courts (including federal decisions), ballot initiatives, and other means. While we strive to provide the most current information available, please consult an attorney or conduct your own legal research to verify the state law(s) you are researching.

How to File Income Taxes in Colorado

Taxpayers may file their tax returns either electronically or by mailing a completed form with supporting documents. This applies to individuals as well as businesses, which pay the same rate. According to the Colorado Income Tax Filing Guide (PDF), you should complete your federal tax return first, since the state return uses numbers calculated on the federal return. In order to file online, click on the link for the appropriate tax year and follow the step-by-step instructions. The state provides an index of printable tax forms and links to its online service.

Research the Law

Colorado Personal Income Tax Laws: Related Resources

Confused About Colorado's Income Tax Laws? An Attorney Can Help

Misunderstandings relating to your personal income taxes can mean missed opportunities for savings, increased scrutiny of your return by the IRS, fines, and a lot of stress. The assistance of a qualified professional can help you avoid problems or resolve them once they arise. Contact a Colorado tax law attorney and learn how they can help you handle personal income tax issues with confidence.

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