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Colorado
By the Numbers

Colorado Below is a snapshot of key features of Colorado's tax system. (Scroll Down)
State & Local Revenue (FY10)
  • General Revenue, Own-Source (GROS): $32.2 billion
  • General Revenue as a Share of Income: 15.4%
  • Tax Revenue: $20.5 billion
  • Tax Revenue as Share of income: 9.8%
  • Personal Income Tax (Share of Tax Revenue): 20.0% (32 out of 51)
  • Corporate Income Tax (Share of Tax Revenue): 1.8 % ( 41 out of 51)
  • Sales & Excise Tax (Share of Tax Revenue): 32.9 % ( 28 out of 51)
  • Property Tax (Share of Tax Revenue): 39.1 % ( 14 out of 51)
  • Other Taxes (Share of Tax Revenue): 4.0 % (33 out of 51)
Personal Income Tax Features (2012)
  • Range of Tax Rates: 4.63%
  • Standard Deduction: $5,950 ($11,900 for Married Couples)
  • Personal Exemption: $3,800
  • Dependent Exemption: $3,800
  • Earned Income Tax Credit (EITC): Currently Suspended
  • Flat income tax rate structure
Corporate Income Tax Features (2012)
  • Range of Tax Rates: 4.63%
  • Income Level at Which Top Rate Applies: All
  • Combined Reporting: Yes
  • Apportionment Factor (Payroll): 0%
  • Apportionment Factor (Property): 0%
  • Apportionment Factor (Sales): 100%
Sales Tax Features (2012)
  • State Sales Tax Rate: 2.90%
  • Average Local Sales Tax Rate: 3.20%
  • Average Combined State & Local Sales Tax Rate: 6.10%
  • State Sales Tax Treatment of Groceries: Exempt
  • Local Sales Tax Treatment of Groceries: Taxed
  • Number of Services Taxed: 14 out of 168 surveyed (2007)
  • Streamlined Sales Tax Membership: No
  • Vendor Compensation available without ceiling
Property Tax Features (2012)
  • Gallagher Amendment requires state property tax revenue to be 45% residential and 55% commercial.
  • Local taxing districts can only increase rates with voter approval.
  • Utilizes split roll system.
Other Tax & Revenue Features (2012)
  • Gasoline Tax Rate (per gallon): $0.22
  • Diesel Tax Rate (per gallon): $0.205
  • Cigarette Tax Rate (per pack): $0.84
  • Estate or Inheritance Tax: No
  • Net Lottery Sales Per Capita: $92 (2010)
Tax Policy Oversight
  • Tax Expenditure Report: Yes, but excludes at least one major tax
  • Tax Incidence Analysis Capability: Multiple taxes

Last Updated October 4, 2012

Sources & Glossary