Colorado State Income Tax Data Sheet

 

© 2018 Tax-Rates.org

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.

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.

Colorado State Income Tax Deductions

Income tax deductions are expenses that can be deducted from your gross pre-tax income before determining your taxable income.

Colorado Standard Deduction

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.

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.

Colorado Dependent Deduction

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

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.

Colorado State Income Tax Data Sheet

 

© 2018 Tax-Rates.org

Web Resources:


Department of Revenue Website:
http://www.colorado.gov/cs/Satellite/Revenue/REVX/1176842266433

Colorado Tax Forms:
http://www.colorado.gov/cs/Satellite?c=Page&cid=1177017551295&pagename=Reve

Colorado Income Tax Information:
http://www.tax-rates.org/colorado/income-tax

Important Tax Addresses:


Income Tax Returns
Colorado Department of Revenue
1375 Sherman St.
Denver, CO 80261-0005;

General
Colorado Department of Revenue
1375 Sherman St.
Denver, CO 80261
Phone: (303) 239-7378;

Estimated Income Tax Returns
Colorado Department of Revenue
1375 Sherman St.
Denver, CO 80261-0008;