Colorado Income Tax Calculator

Estimate your Colorado income tax burden

Updated for 2023 tax year on Mar 01, 2023

What was updated? 2023 federal FICA, income tax rates & standard deduction
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Colorado state taxes

Quick Colorado tax facts

  • State income tax: 4.55%
  • State sales tax: 2.9%
  • Property tax: 0.49%
  • Gas tax: 22 cents per gallon
  • Tobacco tax: 84 cents per pack of 20 cigarettes
  • Insurance premium tax: 2% on gross written premiums.
Colorado United States

From Wikipedia

Colorado income taxes

Colorado’s income tax system employs a flat rate of 4.55%, ensuring that every taxpayer contributes to the state’s well-being at the same consistent rate.

Calculate your income tax in Colorado

Calculating your Colorado state income tax is similar to the steps we listed on our Federal income tax calculator:

  1. Determine your filing status
  2. Gross income − Retirement contributions = Adjusted gross income
  3. Adjusted gross income − Itemized deductions = State taxable income
  4. State taxable income × State tax rate = State tax liability

State payroll tax

Colorado has no state-level payroll tax.

State income tax brackets

Refer to Tax Foundation for more details.

Tax year Filing status Taxable income Rate
2022
2021
Any Any 4.55%
2020 Any Any 4.63%

State standard deduction

Tax year Filing status Adjusted gross income Standard deduction amount
2022 Single
Married, Filing Separately
Any $12,950
Married, Filing Jointly Any $25,900
Head of Household Any $19,400
2021 Single
Married, Filing Separately
Any $12,550
Married, Filing Jointly Any $25,100
Head of Household Any $18,800
2020 Any Any $0

Colorado sales tax

The state sales tax rate is 2.9%, with local jurisdictions adding their own taxes on top.

Colorado property tax

The average property tax rate is approximately 0.49% of the assessed market value.

Colorado capital gains tax

Colorado applies the same flat rate to capital gains as it does to regular income.

Colorado gas tax

Colorado’s gas tax rate is 22 cents per gallon.

Colorado tobacco tax

An additional 84 cents per pack of 20 cigarettes is applied under the tobacco tax.

Colorado insurance tax

Insurance companies pay a premium tax rate of 2% on gross written premiums.

FAQs

How do I calculate my Colorado income tax?

Calculate your Colorado income tax with the following steps.

  1. Determine your filing status
  2. Gross income − Retirement contributions = Adjusted gross income
  3. Adjusted gross income × State tax rate = State tax liability

How much is $73000 a year after taxes in Colorado?

A single filer will have a after-tax income of $53,223.22 after a total income tax of $15,776.78.