What Is the Real Value of $100 in Metropolitan Areas?
The differences in purchasing power can be large and they have significant implications for the relative impact of economic and tax policies across the United States.
Colorado Tax Rates, Collections, and Burdens
How does Colorado’s tax code compare? Colorado has a flat 4.40 percent state individual income tax rate. Colorado has a 4.40 percent corporate income tax rate. There are jurisdictions that collect local income taxes. Colorado also has a 2.90 percent state sales tax rate, a max local sales tax rate of 8.30 percent, and an average combined state and local sales tax rate of 7.78 percent. Colorado’s tax system ranks 21st overall on our 2023 State Business Tax Climate Index.
Each state’s tax code is a multifaceted system with many moving parts, and Colorado is no exception. The first step towards understanding Colorado’s tax code is knowing the basics. How does Colorado collect tax revenue? Click the tabs below to learn more! You can also explore our state tax maps, which are compiled from our annual publication, Facts & Figures: How Does Your State Compare?
Tax Data by State
Get facts about taxes in your state and around the U.S.
State Tax Data
Individual Taxes
Business Taxes
Sales Taxes
All Related Articles
How Are Electric Vehicles Taxed in Your State?
The state EV taxation landscape reflects the evolving transportation sector and the pressing need to address both fiscal gaps in road funding and environmental concerns.
County Data Shows Repealing SALT Cap Would Benefit High-Income Earners
Any move to repeal the cap or enhance the deduction would disproportionately benefit higher earners, making the tax code more regressive.
Where Do People Pay the Most in Property Taxes?
Property taxes are the primary tool for financing local governments and generate a significant share of state and local revenues.
States Enact Semiconductor Subsidies in the Wake of CHIPS
Policymakers at all levels of government should avoid the pitfalls of incentives. Instead, they should focus on creating a more efficient, neutral, and structurally sound tax code to the benefit of all types of business investment.
How High are Vaping Taxes in Your State?
If the policy goal of taxing cigarettes is to encourage cessation, vapor taxation must be considered a part of that policy design.
States Move Away from Throwback and Throwout Rules
As more and more states move away from throwback or throwout rules, those states that still impose these rules are becoming less attractive for businesses, which are incentivized to relocate their sales activities to non-throwback states.
How High are Gas Taxes in Your State?
California pumps out the highest state gas tax rate of 77.9 cents per gallon (cpg), followed by Illinois (66.5 cpg) and Pennsylvania (62.2 cpg).
Does Your State Have a Sales Tax Holiday?
However well-intended they may be, sales tax holidays remain the same as they always have been—ineffective and inefficient.
State and Local Sales Tax Rates, Midyear 2023
Compare the latest 2023 sales tax rates as of July 1st. Sales tax rate differentials can induce consumers to shop across borders or buy products online.