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Colorado State Income Tax
Tax Year 2023
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Contents
Contents
1.
Colorado Income Tax Table
| Tax Bracket (Single) [2] | Tax Bracket (Couple) [3] | Marginal Tax Rate |
| $0+ | $0+ | 4.400% |
Note: Colorado's income tax has a single flat tax rate for all income.
Note: We don't currently have Colorado's income tax brackets for tax year 2024. Until updated 2024 tax rates become available for Colorado, the tax brackets shown above and used in the income tax calculator will be from tax year 2023.
Learn how marginal tax brackets work 
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Colorado Income Tax Calculator
3.
The Colorado Income Tax
Colorado collects a state income tax at a maximum marginal tax rate of %, spread across tax brackets. Unlike the Federal Income Tax, Colorado's state income tax does not provide couples filing jointly with expanded income tax brackets.
Colorado's maximum marginal income tax rate is the 1st highest in the United States, ranking directly below Colorado's %. You can learn more about how the Colorado income tax compares to other states' income taxes by visiting our map of income taxes by state.
Colorado requires all residents, or nonresidents who have earned income within the state, to file a Colorado income tax if they are required by the IRS to file a federal income tax return. A small local income tax is collected by several cities in Colorado.
There are 151 days left until Tax Day, on April 16th 2025. The IRS will start accepting eFiled tax returns in January 2020 - you can start your online tax return today for free with TurboTax .
4.
Colorado Tax Deductions
Income tax deductions are expenses that can be deducted from your gross pre-tax income. Using deductions is an excellent way to reduce your Colorado income tax and maximize your refund, so be sure to research deductions that you mey be able to claim on your Federal and Colorado tax returns. For details on specific deductions available in Colorado, see the list of Colorado income tax deductions.
4.1 - Colorado Standard Deduction
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Unlike many other states, Colorado has no standard deduction. Certain itemized deductions (including property tax, qualified charitable contributions, etc) may be allowed depending on the income level and filing type of the taxpayer. Keep in mind that not all deductions allowed on your federal income tax return are necessarily going to be allowed on your Colorado income tax return.
4.2 - Colorado Personal Exemptions
- Colorado has no personal exemption. The Federal Income Tax, however, does allow a personal exemption to be deducted from your gross income if you are responsible for supporting yourself financially.
4.3 - Colorado Dependent Deduction
- Unlike most states, Colorado does not have a dependent deduction. You can, however, claim dependent deductions on your Federal Tax Return.
4.4 - Colorado Itemized Deductions
- Colorado allows itemized deductions, and you can claim the same itemized deductions on your Colorado tax return as you do on your Federal tax return. You must choose between itemizing your deductions and choosing the Colorado standard deduction, so it's generally only worth itemizing your deductions if your itemized total is more then the Colorado and Federal standard deductions. For more details, visit the list of Colorado itemized deductions.
5.
Colorado Income Tax Forms
Tax-Rates.org provides easy access to five of the most commonly used Colorado income tax forms, in downloadable PDF format. For all of the tax forms we provide, visit our Colorado tax forms library or the 's tax forms page.
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Form 104 - Individual Income Tax ReturnForm 104 is the general, and simplest, income tax return for individual residents of Colorado. You may file by mail with paper forms or efile online.
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Form 104 Instructions - Individual Income Tax Filing GuideUse this instructional booklet to guide you in filling out and filing your Form 104 individual income tax return.
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Form 104EP - Estimated Individual Income Tax ReturnYou must pay estimated income tax if you are self employed or do not pay sufficient tax withholding. Estimated tax payments are due on a quarterly basis; The due dates are: April 15 (first calender quarter), June 15 (second calender quarter), September 15
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Form 104PN - Nonresident Income Tax ReturnNonresidents of Colorado who need to file income taxes in the state need to file Form 104PN.
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Form 204 - Estimated Income Tax Underpayment FormIf you failed to pay or underpaid your estimated income taxes the previous tax year, you need to fill out Form 204 to calculate and pay any penalties or fees owed.
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Printable Colorado Tax Table & Tax Reference
Tax-Rates.org provides a printable Colorado datasheet including an income tax table, a list of Colorado tax deductions, important URLs and addresses, and more. This document is in PDF format.
If you are not a resident of Colorado, have a complicated tax return, or have other specialized circumstances you may need to download additional tax forms from the website. You can find all of Colorado's 2024 income tax forms on the income tax forms page .
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6.
How To File Your Colorado Income Tax Return
Once you've filled out your Colorado income tax return, you have several options for filing and paying your income tax. You can mail your return to the at the correct address below, and include your payment by check or money order. You may also electronically file your Colorado tax return through a tax preparer or using online tax software, and pay your taxes instantly using direct debit or a credit card (an additional credit card fee may apply).
7.
Where To Send Your Colorado Tax Return
If you filled out physical tax return forms, mail your completed Colorado income tax return to the Colorado no later then April 15th. Please be sure to send your completed tax forms to the correct address for your filing type.
Estimated Income Tax Returns Colorado Department of Revenue 1375 Sherman St. Denver, CO 80261-0008 |
Income Tax Returns Colorado Department of Revenue 1375 Sherman St. Denver, CO 80261-0005 |
8.
e-Filing: Submit Your Colorado Tax Return Online
You can save time and money by electronically filing your Colorado income tax directly with the . Benefits of e-Filing your Colorado tax return include instant submission, error checking, and faster refund response times. Most tax preparers can electronically file your return for you, or you can do it yourself using free or paid income tax software, like the examples listed below.
https://www.colorado.gov/mytaxes/
To e-file your Colorado and Federal income tax returns, you need a piece of tax software that is certified for eFile by the IRS. While most in-depth tax software charges a fee, there are several free options available through the states, and simple versions are also offered free of charge by most tax software companies.
The two most popular tax software packages are H&R Block At Home, sold by the H&R Block tax preparation company, and TurboTax Federal & State, sold by the Intuit software company. Both companies produce multiple editions for simple to very complex tax returns, so be sure to carefully compare the features offered by each package.
9.
Getting Your Colorado Tax Refund
If your state tax witholdings are greater then the amount of income tax you owe the state of Colorado, you will receive an income tax refund check from the government to make up the difference.
It should take one to three weeks for your refund check to be processed after your income tax return is recieved. E-filing your return and filing early can help ensure your refund check gets sent as quickly as possible.
Once you've filed your tax return, all you have to do is wait for your refund to arrive. If you want to check the status of your Colorado tax refund, you can visit the Colorado Income Tax Refund page.
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10.
References
- Our state ranking and income tax figures are based on a family of four (married parents with two children) earning the national median household income of $50,000 per year. Deductions and personal exemptions are taken into account, but some state-specific deductions and tax credit programs may not be accounted for.
- Before the official 2024 Colorado income tax rates are released, provisional 2024 tax rates are based on Colorado's 2023 income tax brackets.
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The 2024 state personal income tax brackets are updated from the Colorado and Tax Foundation data.
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Colorado tax forms are sourced from the Colorado income tax forms page, and are updated on a yearly basis. Please make sure the Colorado forms you are using are up-to-date.
