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Colorado
By the Numbers

Colorado Below is a snapshot of key features of Colorado's tax system. (Scroll Down)
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: 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 (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

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