Colorado Paycheck Calculator

Calculate your take home pay after federal & Colorado taxes

Last updated on Aug 24 2021

Calculation not correct? Request new features?

Paycheck calculators by state

Colorado state income tax

Colorado has a population of over 5 million (2019) and is one of the Mountain States. Denver is the capital and most populous city of the Centennial State. The median household income is $69,117 (2017).

Brief summary:

  • the income tax is a flat rate of 4.55%
  • no state-level payroll tax
  • no standard deductions and exemptions
  • has Earned Income Tax Credit (EITC) and Child Tax Credit (CTC)
Colorado United States

Colorado fiscal year starts from July 01 the year before to June 30 the current year. So the fiscal year 2021 will start from July 01 2020 to June 30 2021.

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

  1. figure out your filing status
  2. work out your adjusted gross income [Total annual income – Adjustments = Adjusted gross income]
  3. calculate your taxable income [Adjusted gross income – (Post-tax deductions + Exemptions) = Taxable income]
  4. understand your tax liability [Taxable income × Tax rate = Tax liability]
  5. determine whether your tax liability is more than your tax credits and withheld
    • Tax liability – (Credits + Withheld) = What you owe or
    • (Credits + Withheld) – Tax liability = Tax refunds

State payroll tax

Colorado has no state-level payroll tax.

Income tax brackets

Refer to Tax Foundation for more details.

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

Deductions

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

Exemptions

There is no state-level exemptions.

Earned Income Tax Credit (EITC)

Fiscal year Percentage of Federal EITC Refundable
2021
2020
10% Yes

Child Tax Credit (CTC)

Fiscal year Filing status Amount per dependent Refundable Comment
2021
2020
Single
Married, Filing Separately
Head of Household
$0 – $25,000 get $600 (30% of federal CTC)
$25,001 to $50,000 get $300 (15%)
$50,001 to $75,000 get $100 (5%)
Yes A filer’s Adjusted Gross Income must be less than $60,000
Only available for children 5 and younger.
Married, Filing Jointly $0 – $35,000 get $600 (30% of federal CTC)
$35,001 to $60,000 get $300 (15%)
$60,001 to $85,000 get $100 (5%)

FAQs

What taxes do Coloradan pay?

Beside the federal income tax, the residents of Colorado only need to pay the state-level income tax which is a flat rate of 4.55%.

How much do you make after taxes in Colorado?

A single filer making $69,000 per year will take home $52,985.52 after tax.
A married couple with a combined annual income of $138,000 will get $105,971.05 after tax.