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Colorado Income Tax
Colorado has a flat rate of 4.63 percent that is placed on all income earned by residents, regardless of income level. Pending certain budget target the tax rate may be dropped to 4.5 percent.
Income tax returns should be in by April 15th.
Colorado returns can be filed electronically in one of two ways, NetFile or TeleFile. NetFile is an online electronic filing system and TeleFile is a touch-tone telephone electronic filing system. Both of these systems are open 24/7 and most Colorado taxpayers are eligible to use at either of these systems.
Colorado Tax Filing Guide
Here are detailed instructions for filing taxes in the state of Colorado.
Consider using TurboTax to E-File your Colorado taxes.
Colorado Residents
If your domicile home was in Colorado, or you lived in Colorado for more than 183 days of the past year, you are a resident of Colorado. If you are a Colorado resident, you will need to file a Colorado income tax return. You will use Form-104 (see attached) to file your return. For additional information on filing Form-104 see included Instructions.
Colorado bases your taxes off your federal return so there are no deductions or exemptions on Form-104 because all deductions and exemptions were already calculated on your federal return. On Form-104 you will perform certain additions and subtractions to the federal taxable income and then be taxed a flat rate of 4.63% on this amount.
Related Tax Forms
- Form 104 - Colorado Individual Income Tax Return
Part-Year Colorado Residents
You are a part-year resident of Colorado if you moved into or out of Colorado during the past year. If you are a part-year resident of Colorado that filed a federal tax return, you may need to also file a tax return with Colorado. For how to file a part-year, Colorado return for the time that you were a resident or resident working in another state see the Colorado Resident or Resident Working In Another State sections. For how to file a part-year, Colorado return during the time that you were a nonresident working in the state or nonresident who sold property see the Colorado Nonresident Working In State or Nonresident Who Sold Property In State sections.
Colorado Residents who work in another state
If your domicile home was in Colorado, or you lived in Colorado for more than 183 days of the past year, you are a resident of Colorado. If you are a Colorado resident, you will need to file a Colorado income tax return. You will use Form-104 (see attached) to file your return. For additional information on filing Form-104 see included Instructions.
Colorado bases your taxes off your federal return so there are no deductions or exemptions on Form-104 because all deductions and exemptions were already calculated on your federal return. On Form-104 you will perform certain additions and subtractions to the federal taxable income and then be taxed a flat rate of 4.63% on this amount.
If you are a resident who works in another state, you will need to complete several additional steps in filing your Colorado return. The reasons for these additional steps is to allow you to avoid dual taxation on income earned in states other than Colorado. The first step is to complete your federal tax return (in the same way that you would if you were a resident who lived and worked in Colorado). The second step is to complete the income return that you need to file for the other state that the income was earned in. The third step to file your Colorado return. To do this you will need to fill out Colorado Form 104 lines 1 through 18 only. Next you will fill out lines 20, 21, and 24 of Colorado Form 104CR.
Both Forms 104 (with instructions included) and Form 104CR are attached.
Related Tax Forms
- Form 104 - Colorado Individual Income Tax Return
- Form 104CR - Colorado Individual Credits Schedule
Non-Residents who work in Colorado
If your domicile home was not in Colorado for any part of the year, even though you might temporarily reside or work in Colorado, you are a nonresident of Colorado. If you are a nonresident of Colorado who filed a federal income return that included income from a Colorado source, or if you have a Colorado tax liability, you are required to file a Colorado nonresident return. Please note that there is no minimum income threshold. To file a nonresident Colorado return you will need to use Form-104PN. For more information see FYI Part-Year Residents and Non Residents.
Related Tax Forms
- Form 104PN - Colorado Part-year/Non-resident Tax Calculation Schedule
- FYI Part-Year Residents and Non Residents - Colorado FYI Part-Year Residents and Non-residents
Non-Residents who sold property in Colorado
If your domicile home was not in Colorado for any part of the year, even though you might temporarily reside or work in Colorado, you are a nonresident of Colorado. If you are a nonresident of Colorado who filed a federal income return that included income from a Colorado source, or if you have a Colorado tax liability, you are required to file a Colorado nonresident return. Please note that there is no minimum income threshold. To file a nonresident Colorado return you will need to use Form-104PN. For more information see FYI Part-Year Residents and Non Residents.
Related Tax Forms
- Form 104PN - Colorado Part-year/Non-resident Tax Calculation Schedule
- FYI Part-Year Residents and Non Residents - Colorado FYI Part-Year Residents and Non-residents
Colorado State Tax Forms
- Form 104PN - Colorado Part-year/Non-resident Tax Calculation Schedule
- Form 158-I - Colorado Automatic Extension for Individuals
- Form 104AMT - Colorado Alternative Minimum Tax Computation Schedule
- FYI Part-Year Residents and Non Residents - Colorado FYI Part-Year Residents and Non-residents
- Form 104 - Colorado Individual Income Tax Return
- Form 104CR - Colorado Individual Credits Schedule
Relevant Links
- State of Colorado Tax Website - Official Site
- State of Colorado E-File Service - Offered by Colorado's Official Website
- Previous Years Tax Forms - Prior Year Forms: 2000-2007
- FAQ for Colorado Taxes - Common Colorado Tax Questions
- Additional Tax Forms - A Comprehensive Collection of Colorado Tax Forms
Colorado Mailing Address
Wondering where to mail your Colorado taxes? Here's the address:Colorado Department of Revenue
1375 Sherman St.
Denver, CO 80261
Phone Number: (303) 238-7378
Colorado Sales Tax
Colorado charges a states stales tax of 2.9 percent. On top of the state sales tax rate there are also local sales tax rates as well as other miscellaneous taxes such as the Regional Transportation District, the Cultural Facilities District, the Football Stadium District, the Local Improvement District, and the Regional Transportation District. To see your exact combined local and state sales tax rate see the tax rate finder.
