Colorado Recommended Spending Percentages
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FAQ
Line 4 on the Colorado tax return typically refers to the area where you report your federal adjusted gross income. This figure is crucial for calculating your state taxable income and ultimately determining the amount of state income tax you owe. Understanding line 4 can clarify your financial picture and help you adhere to Colorado Recommended Spending Percentages.
State and local governments spend most of their resources on education, health, and social service programs. In 2019, about one-third of state and local spending went toward combined elementary and secondary education (22 percent) and higher education (9 percent).
Colorado's $36 billion budget would boost K-12, higher ed - Chalkbeat Colorado.
The state budget provides funding for state services, including health care, human services, higher education, state roads, and state courts and prisons.
On average, Coloradans pay about 27% of their personal income through various taxes to fund federal, state, and local governments, with about 2/3rds of that going to the federal government and the remainder split between state and local governments.
Among the states, Alaska had the highest per capita state and local spending in 2019 at $17,596, followed by New York ($15,667) and Wyoming ($15,107).
What do state and local governments spend money on? State and local governments spend most of their resources on education, health, and social service programs. In 2019, about one-third of state and local spending went toward combined elementary and secondary education (22 percent) and higher education (9 percent).
Major expenditure categories are healthcare, Social Security, and defense; income and payroll taxes are the primary revenue sources.
6 things to know about Colorado's $36.4 billion state budget.
Colorado's combined state and local general revenues were $58.9 billion in FY 2019, or $10,235 per capita. National per capita general revenues were $10,563.
