Tonight Senator Ted Cruz ended his presidential campaign after a long Republican presidential primary. While Cruz will remain in the Senate, working on policy at the federal level, it is unlikely that his tax plan will...
The facts on Colorado’s Tax Climate
4.63%individual income taxFlat rate
4.63%corporate income taxFlat rate
$1,333property taxcollections per capita
Colorado's Individual Income Tax System
Colorado's individual income tax system consists of a flat rate of 4.63%. That rate ranks 36th highest among states levying an individual income tax. Colorado's state and local tax collections per person were $1,049 in 2013, which ranked 22nd highest nationally.
50-State Table of Individual Income Tax Rates
50-State Table of State Individual Income Tax Collections
50-State Table of State and Local Individual Income Tax Collections Per Capita
Colorado's Corporate Income Tax System
Colorado's corporate income tax system consists of a flat rate of 4.63%. That rate ranks 42nd highest among states levying a corporate income tax. Colorado's state and local corporate income tax collections per person were $124 in 2013 which ranked 31st highest nationally.
50-State Table of Corporate Income Tax Rates
50-State Table of State and Local Corporate Income Tax Collections Per Capita
50-State Table of State Corporate Income Tax Collections Per Capita
Colorado Sales and Excise Taxes
Colorado levies a 2.9% general sales or use tax on consumers, which is below the national median of 5.95%.The average local sales tax rate is an additional 4.6%. Colorado's state and local governments collect $1,162 per person in general sales taxes and $426 per person in excise taxes, for a combined figure of $1,588, which ranks 21st highest nationally. Colorado's gasoline tax stands at 22 cents per gallon, 37th highest nationally, while its cigarette tax stands at $0.84, 36th highest nationally.
50-State Table of State and Local General and Selective Sales Tax Collections Per Capita
Colorado Property Tax Collections Average
Colorado's state and local governments collected approximately $1333 per person in property taxes in 2013, which ranks 24th nationally.
State and local property tax collections per capita by state
Tax Freedom Day Arrives on April 24th in Colorado
Tax Freedom Day is the day when Americans have finally earned enough money to pay off their total tax bill for the year. In 2016, Colorado taxpayers have to work until April 24th (37th earliest nationally) to pay their total tax bill.
Colorado's State and Local Tax Burden Ranks 35th
Colorado's 2012 tax burden of 8.9% ranks 35th highest in the nation, and is below the national average of 9.9%. Colorado's taxpayers pay $4,304 per capita in state and local taxes.
Colorado's State-Local Tax Burden, 1977-Present
Other States' State/Local Tax Burdens
Map of U.S. Showing all State's Burdens and Ranks
Historical Chart Comparing All States' State/Local Tax Burdens from 1977 to 2009
Colorado's 2016 Business Tax Climate Index Ranks 18th
Colorado ranks 18th on the Tax Foundation's State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes (15th), individual income taxes (16th), sales taxes (44th), unemployment insurance taxes (33rd), and taxes on property (12th), including residential and commercial property.
State Business Tax Climate Index (full study)
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