Colorado

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By the Numbers

Personal Income Tax Features (2015)
Range of Tax Rates 4.63%
Standard Deduction
  • $6,300 ($12,600 for Married Couples)
  • Personal Exemption $4,000
    Dependent Exemption $4,000
    Earned Income Tax Credit (EITC) Scheduled to take effect once revenue triggers are reached
  • Flat income tax rate structure
  • Corporate Income Tax Features (2015)
    Range of Tax Rates N/A
    Income Level at Which Top Rate Applies N/A
    Combined Reporting 4.63%
    Apportionment Factor (Payroll) All
    Apportionment Factor (Property) Yes
    Apportionment Factor (Sales) 0%
    Sales Tax Features (2015)
    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 (2015)
  • 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 (2015)
    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 January 13, 2015