State of Colorado Income Tax Colorado State Income Tax
Tax Year 2014

1.1 -
Contents

QuickFact: The average family pays $2,315.00 in Colorado income taxes. [1]
Rank: 8th out of 51

1.
Colorado Income Tax Table

Tax Bracket (Single) [2] Tax Bracket (Couple) [3] Marginal Tax Rate
$0+ $0+ 4.63%

Note: Colorado's income tax has a single flat tax rate for all income.

Learn how marginal tax brackets work View an explanation of marginal tax brackets

2.
Colorado Income Tax Calculator

My Income
Filing Status
Exemptions
Claim an exemption for myself
Claim an exemption for my spouse
Dependants
 
How to use the Colorado tax estimator How To Use This Calculator
You can use our free Colorado income tax calculator to get a good estimate of what your tax liability will be come April. On the next page, you will be able to add more details like itemized deductions, tax credits, capital gains, and more.
Please remember that the income tax code is very complicated, and while we can provide a good estimate of your Federal and Colorado income taxes, your actual tax liability may be different.

3.
The Colorado Income Tax

Colorado collects a state income tax at a maximum marginal tax rate of %, spread across tax brackets. Unlike the Federal Income Tax, Colorado's state income tax does not provide couples filing jointly with expanded income tax brackets.

Colorado's maximum marginal income tax rate is the 1st highest in the United States, ranking directly below Colorado's %. You can learn more about how the Colorado income tax compares to other states' income taxes by visiting our map of income taxes by state.

Colorado requires all residents, or nonresidents who have earned income within the state, to file a Colorado income tax if they are required by the IRS to file a federal income tax return. A small local income tax is collected by several cities in Colorado.

There are -534 days left until Tax Day, on April 15th 2015. The IRS will start accepting eFiled tax returns in January 2015 - you can start your online tax return today for free with TurboTax TurboTax eFiling.

Compare the state income tax rates in Colorado with the income tax rates in

4.
Colorado Tax Deductions

Income tax deductions are expenses that can be deducted from your gross pre-tax income. Using deductions is an excellent way to reduce your Colorado income tax and maximize your refund, so be sure to research deductions that you mey be able to claim on your Federal and Colorado tax returns. For details on specific deductions available in Colorado, see the list of Colorado income tax deductions.

4.1 - Colorado Standard Deduction

What is the CO Standard Deduction for 2016? Unlike many other states, Colorado has no standard deduction. Certain itemized deductions (including property tax, qualified charitable contributions, etc) may be allowed depending on the income level and filing type of the taxpayer. Keep in mind that not all deductions allowed on your federal income tax return are necessarily going to be allowed on your Colorado income tax return.

4.2 - Colorado Personal Exemptions

Colorado has no personal exemption. The Federal Income Tax, however, does allow a personal exemption to be deducted from your gross income if you are responsible for supporting yourself financially.

4.3 - Colorado Dependent Deduction

Unlike most states, Colorado does not have a dependent deduction. You can, however, claim dependent deductions on your Federal Tax Return.

4.4 - Colorado Itemized Deductions

Colorado allows itemized deductions, and you can claim the same itemized deductions on your Colorado tax return as you do on your Federal tax return. You must choose between itemizing your deductions and choosing the Colorado standard deduction, so it's generally only worth itemizing your deductions if your itemized total is more then the Colorado and Federal standard deductions. For more details, visit the list of Colorado itemized deductions.

5.
Colorado Income Tax Forms

Tax-Rates.org provides easy access to five of the most commonly used Colorado income tax forms, in downloadable PDF format. For all of the tax forms we provide, visit our Colorado tax forms library or the 's tax forms page.

Free Printable Colorado Income Tax Form 104 Individual Income Tax Return
11/-0001
Form 104 - Individual Income Tax Return
Form 104 is the general, and simplest, income tax return for individual residents of Colorado. You may file by mail with paper forms or efile online.
Free Printable Colorado Income Tax Form 104 Instructions Individual Income Tax Filing Guide
11/-0001
Form 104 Instructions - Individual Income Tax Filing Guide
Use this instructional booklet to guide you in filling out and filing your Form 104 individual income tax return.
Free Printable Colorado Income Tax Form 104EP Estimated Individual Income Tax Return
11/-0001
Form 104EP - Estimated Individual Income Tax Return
You must pay estimated income tax if you are self employed or do not pay sufficient tax withholding. Estimated tax payments are due on a quarterly basis; The due dates are: April 15 (first calender quarter), June 15 (second calender quarter), September 15
Free Printable Colorado Income Tax Form 104PN Nonresident Income Tax Return
11/-0001
Form 104PN - Nonresident Income Tax Return
Nonresidents of Colorado who need to file income taxes in the state need to file Form 104PN.
Free Printable Colorado Income Tax Form 204 Estimated Income Tax Underpayment Form
11/-0001
Form 204 - Estimated Income Tax Underpayment Form
If you failed to pay or underpaid your estimated income taxes the previous tax year, you need to fill out Form 204 to calculate and pay any penalties or fees owed.
Free Printable Colorado Tax Table
08/2013
Printable Colorado Tax Table & Tax Reference
Tax-Rates.org provides a printable Colorado datasheet including an income tax table, a list of Colorado tax deductions, important URLs and addresses, and more. This document is in PDF format.
If you are not a resident of Colorado, have a complicated tax return, or have other specialized circumstances you may need to download additional tax forms from the website. You can find all of Colorado's 2016 income tax forms on the income tax forms page External Link.

6.
How To File Your Colorado Income Tax Return

Once you've filled out your Colorado income tax return, you have several options for filing and paying your income tax. You can mail your return to the at the correct address below, and include your payment by check or money order. You may also electronically file your Colorado tax return through a tax preparer or using online tax software, and pay your taxes instantly using direct debit or a credit card (an additional credit card fee may apply).

7.
Where To Send Your Colorado Tax Return

If you filled out physical tax return forms, mail your completed Colorado income tax return to the Colorado no later then April 15th. Please be sure to send your completed tax forms to the correct address for your filing type.
Estimated Income Tax Returns
Colorado Department of Revenue
1375 Sherman St.
Denver, CO 80261-0008
Income Tax Returns
Colorado Department of Revenue
1375 Sherman St.
Denver, CO 80261-0005

8.
e-Filing: Submit Your Colorado Tax Return Online

You can save time and money by electronically filing your Colorado income tax directly with the . Benefits of e-Filing your Colorado tax return include instant submission, error checking, and faster refund response times. Most tax preparers can electronically file your return for you, or you can do it yourself using free or paid income tax software, like the examples listed below.

https://www.colorado.gov/mytaxes/

To e-file your Colorado and Federal income tax returns, you need a piece of tax software that is certified for eFile by the IRS. While most in-depth tax software charges a fee, there are several free options available through the states, and simple versions are also offered free of charge by most tax software companies.

The two most popular tax software packages are H&R Block At Home, sold by the H&R Block tax preparation company, and TurboTax Federal & State, sold by the Intuit software company. Both companies produce multiple editions for simple to very complex tax returns, so be sure to carefully compare the features offered by each package.

9.
Getting Your Colorado Tax Refund

Your Colorado Income Tax Refund Online

If your state tax witholdings are greater then the amount of income tax you owe the state of Colorado, you will receive an income tax refund check from the government to make up the difference.

It should take one to three weeks for your refund check to be processed after your income tax return is recieved. E-filing your return and filing early can help ensure your refund check gets sent as quickly as possible.

Once you've filed your tax return, all you have to do is wait for your refund to arrive. If you want to check the status of your Colorado tax refund, you can visit the Colorado Income Tax Refund page.

10.
References

  1. Our state ranking and income tax figures are based on a family of four (married parents with two children) earning the national median household income of $50,000 per year. Deductions and personal exemptions are taken into account, but some state-specific deductions and tax credit programs may not be accounted for.
  2. Before the official 2016 Colorado income tax rates are released, provisional 2016 tax rates are based on Colorado's 2015 income tax brackets.
  3. The 2016 state personal income tax brackets are updated from the Colorado and Tax FoundationExternal Link data.
  4. Colorado tax forms are sourced from the Colorado income tax forms pageExternal Link, and are updated on a yearly basis. Please make sure the Colorado forms you are using are up-to-date.