The state of Colorado’s income tax rate isn’t dependent on income level, as all earnings are taxed at 4.63%. The deadline for all tax returns in the state is April 15th, unless that date is a weekend or holiday, in which case tax returns would be due the next business day.
Who is a Colorado Resident?
Residency in the state is determined by obtaining proof of one’s status of making a home in the state, or the intention of doing so. Proof can be in the form of: voter registration, vehicle registration, driver’s license, school registration, and property ownership. The Department of Revenue will consider the residence of spouse and children as evidence of intent to become a Colorado resident.
Paying Tax to Another State
Any resident of Colorado who earns money in another state may be eligible to claim a credit for taxes paid to the other state if the income is taxed in both states. This credit helps to ensure that income is only taxed by the taxpayer’s home state.
