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Tax is collected by the Colorado Department of Revenue. The Colorado income tax rate is a flat 4.55 percent of federal taxable income regardless of income level. Colorado's state sales tax is 2.9 percent on retail sales. [19] Full-year Colorado residents can claim an excess sales tax refund on their individual state income tax return.
Median household income and taxes State Tax Burdens 2022 % of income. State tax levels indicate both the tax burden and the services a state can afford to provide residents. States use a different combination of sales, income, excise taxes, and user fees. Some are levied directly from residents and others are levied indirectly.
Toggle the table of contents. ... These tax rates vary by state and by entity type. ... Seven states have a flat rate individual income tax: [28] Colorado – 4.40% ...
Illinois, however, which imposes a 4.95% fixed tax, has a flat tax because when the tax was first implemented, it was unclear whether a progressive income tax was constitutional under the state ...
Colorado. Colorado’s state tax rate is 4.40 percent for the 2024 tax year. Colorado taxpayers who are 65 and older as of Dec. 31 of the tax year can subtract the full amount of their Social ...
In 2024, federal income tax rates remain at 10%, 12%, 22%, 24%, 32%, 35%, and 37%. While these rates stay the same for 2025, the income thresholds for each bracket will adjust for inflation.
This is a table of the total federal tax revenue by state, ... This table lists the tax revenue collected from each state, plus the District of Columbia and the ...
Among the states that assess a retail tax, Colorado’s rate is the lowest at 2.9%, per the Tax Foundation, meaning you’ll pay $2.90 in state tax for every $100 you spend. ... And in Colorado ...
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