Colorado Reports & Information

NEWS & MEDIA

The Latest News from CTJ's Tax Justice Blog

• State News Quick Hits: Neo-Vouchers in Alabama, and More - 05/2013
• State News Quick Hits: Why a Revenue Uptick is Not a Surplus, and More - 05/2013
• Tax Fairness Is TBD In Colorado - 08/2012



ITEP in the News

• Steamboat Pilot and Today: Steamboat joins growing group of cities looking to grow their stake in the outdoor manufacturing industry - 03/2013
• The Colorado Independent: Denver protest targets Wells Fargo - 05/2012
• Denver Post: Group resubmits ballot initiative aiming to raise taxes and state revenue - 02/2011



ITEP Numbers and Reports

• Who Pays? (Fourth Edition) - 01/2013
• Colorado Fiscal Policy Institute: Analysis of 2012 Federal Tax Reform, Part One - 07/2012
• Colorado Fiscal Policy Institute: The Colorado Tax Primer - 01/2011
• The Bell Policy Center: State and Local Taxes Paid in Colorado by Undocumented Immigrants - 06/2006






RESOURCES




State Tax & Revenue Information

• Colorado Department of Revenue
• Colorado Department of Revenue - Division of Taxation



Tax Expenditure Reports

• Colorado Tax Profile & Expenditure Report
• Colorado Tax Expenditures
• Colorado Sales Tax Exemption Study



State Statutes & Legislation

• Colorado Revised Statutes
• General Assembly - Prior Session Information



State Tax Forms

• Colorado Tax Forms





ORGANIZATIONS



• Colorado Fiscal Policy Institute
• The Bell Policy Center

Colorado
By the Numbers

Below is a snapshot of key features of Colorado's tax system. (Scroll Down) State & Local Revenue (FY10) General Revenue, Own-Source (GROS): $32.2 billion General Revenue as a Share of Income: 15.4% Tax Revenue: $20.5 billion Tax Revenue as Share of income: 9.8% Personal Income Tax (Share of Tax Revenue): 20.0% (32 out of 51) Corporate Income Tax (Share of Tax Revenue): 1.8 % ( 41 out of 51) Sales & Excise Tax (Share of Tax Revenue): 32.9 % ( 28 out of 51) Property Tax (Share of Tax Revenue): 39.1 % ( 14 out of 51) Other Taxes (Share of Tax Revenue): 4.0 % (33 out of 51) Personal Income Tax Features (2012) Range of Tax Rates: 4.63% Standard Deduction: $5,950 ($11,900 for Married Couples) Personal Exemption: $3,800 Dependent Exemption: $3,800 Earned Income Tax Credit (EITC): Currently Suspended Flat income tax rate structure Corporate Income Tax Features (2012) 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 (2012) State Sales Tax Rate: 2.90% Average Local Sales Tax Rate: 3.15% Average Combined State & Local Sales Tax Rate: 6.05% State Sales Tax Treatment of Groceries: Exempt Local Sales Tax Treatment of Groceries: Taxed Number of Services Taxed: 14 out of 168 surveyed Streamlined Sales Tax Membership: No Vendor Compensation available without ceiling Property Tax Features (2012) 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 (2012) 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 Tax Policy Oversight Tax Expenditure Report: Yes, but excludes at least one major tax Tax Incidence Analysis Capability: Multiple taxes Last Updated October 4, 2012 Sources & Glossary