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1667 Cole Boulevard, Suite 400
Golden, CO 80401
p 303.202.2965 • f 303.202.2967
More Tax Information:"Over the past 14 years, Colorado’s tax burden has fallen from being relatively close to the national average in 1990 to currently standing substantially below the national average. Over this period of time, individual incomes of taxpayers have risen faster than state/local tax collections thanks largely to the unique Taxpayer’s Bill of Rights amendment in the state’s constitution. Estimated in 2004 at 9.1% of income, Colorado’s state/local tax burden percentage ranks 40th nationally, well below the national average of 10.0%." - The Tax Foundation
• Sales/Use Tax
• Corporate Income Tax
• Personal Income Tax
• Property Tax
• Unemployment Compensation Rate
• Worker's Compensation Insurance
Taxes that the State of Colorado does not impose:
• No unitary tax
• No occupational head tax in Jefferson County or at the state level
• No waters edge or inventory tax in Colorado
Colorado has a pro-business tax climate that is equitable to businesses as well as individuals.
Income, property, and sales and use taxes are the three main sources of tax revenue for state and local governments in Colorado.
In May of 2003, the Tax Foundation published its State Business Tax Climate Index, which ranked Colorado as having the 4th smallest business tax burden in the nation. The report based its rankings on five major elements of the tax system: the percentage of income taken by all taxes, the individual income tax rates, the corporate income taxes, the sales tax rate, and the complexity of the tax system.
Tax and Spending Limitation (TABOR Amendment)
The Taxpayer’s Bill of Rights (TABOR), an amendment to the State Constitution, was passed in 1992. TABOR requires that all tax increases be approved by a vote of the people. Under TABOR, the maximum annual percentage change in state fiscal year spending equals inflation plus the percentage change in state population in the prior calendar year, adjusted for revenue changes approved by voters.
Local district fiscal year spending is limited to inflation in the prior calendar year plus annual “local growth.” Local growth for non-school district is defined as the net percentage change in actual value of all taxable real property in a district. For a school district, it means the percentage change in its student enrollment.
Important Business Tax Links
Colorado Department of Revenue
Colorado Tax Forms
Colorado Business Resource Guide
For Your Information Tax Publications