Get CO DR 1002 2018

Total Estimated 2018 Tax Burden Please change your search criteria and try again. The Centennial State has a flat income tax rate of 4.63%, and one of the lowest statewide sales taxes in the country, at just 2.9%.

Colorado Income Tax. The state income tax in Colorado is assessed at a flat rate of 4.63%, which means that everyone in Colorado pays that same rate, regardless of income level. There are seven other states with a flat income tax.

As of January 2019, state individual income taxes for flat tax states include: Colorado: 4.63 percent.

Total Estimated 2018 Tax Burden Please change your search criteria and try again. The Centennial State has a flat income tax rate of 4.63%, and one of the lowest statewide sales taxes in the country, at just 2.9%.

Colorado's state income tax rate is a flat 4.63% of your federal taxable income, regardless of your income level.

Tax Foundation: The state's combined rates are among higher than many. ... The Tax Foundation found that Colorado has the nation's sixteenth highest average combined state and local sales tax rates at 7.63 percent. That ranks behind states such as No. 1 Tennessee (9.47 percent).

Colorado Standard Deductions & Personal Exemption Amounts. The standard deduction, which Colorado does not have, is a deduction that is available by default to all taxpayers who do not instead choose to file an itemized deduction.

The taxpayer's total state and local tax deduction is limited to $10,000. The taxpayer's total itemized deductions are $25,000 and, as a single filer, the taxpayer would have been allowed a standard deduction of $12,000.

Colorado's current individual and corporate income tax rate is a flat 4.63 percent. Beginning in 2019, the measure creates a graduated individual income tax rate for taxable income above $150,000, and increases the corporate tax rate from 4.63 percent to 6.0 percent.

In certain situations a taxpayer can earn income while residing in Colorado, but the income is taxable in another state. Residency and income tax rules could require the income be included on the Colorado income tax return.

To apply for this certificate with Colorado, use the Application for Sales Tax Exemption for Colorado Organization (DR 0715). No fee is required for this exemption certificate and it does not expire. All valid non-profit state exemption certificates start with the numbers 98 or 098. General Contractor.

Organizations that are exempt from federal income tax under 501(c)(3) will generally be approved for a sales tax certificate of exemption in Colorado.

Not all 501(c)(3) entities are automatically exempt from sales and use tax. In most states, 501(c)(3) entities have to pay sales tax on their purchases and charge sales tax on the items they sell. However, some states allow certain types of nonprofit organizations a special exemption from sales tax.

Nonprofits are also exempt from paying sales tax and property tax. While the income of a nonprofit organization may not be subject to federal taxes, nonprofit organizations do pay employee taxes (Social Security and Medicare) just like any for-profit company.

Colorado Organizations Purchases made by charitable organizations, federal and Colorado state government, and political subdivisions of Colorado in their official functions and activities are exempt from sales tax. Purchases made for qualifying affordable housing projects are also exempt.