Wondering about the figures of the Colorado State taxes? Read on to find out about the common Colorado State taxes that you should be aware of. The income tax rate in the Colorado State taxes is a fixed 4.63 percent of the federal taxable income whatever your income level is. Like most states, the Colorado State taxes or returns are usually due on the 15th of April unless it falls on a holiday or weekend. If that is the case, the next business day is the due date.
It may sometimes fall within a week following the 15th. Sometimes, an extra day is provided for filing and completion of state returns. At the same time, Colorado State taxes may be filed online or electronically through what they call NetFile. It can also be done through touch-tone telephone with the use of their TeleFile system. These two options are available 24 hours a day throughout the income tax season. Most of the Colorado filers may use at least one of these methods.
Another of the Colorado State taxes is the sales tax that we usually deal with everyday. The sales tax for Colorado is at 2.9 percent for retail sales. Now, some counties or cities may have additional rates to the base rate of 2.9 percent. Most of the common special district taxes are as follows:
• Cultural Facilities District (CD)
• Football Stadium District (FD or FTBL) to help build Denver Broncos’ stadium
• Local Improvement District (LID) within parts of southeast Jefferson and Boulder counties
• Regional Transportation District (RTA) taxes in Basalt, Carbondale, Glenwood Springs and Gunnison County
• The counties Boulder, Denver, Jefferson, and portions of Adams, Arapahoe, Broomfield and Douglas are affected by the Regional Transportation District (RTD)
You may check the rates for the city or county through the online rate finder of the Department of Revenue.
The personal business properties are taxable. This may include furniture, equipment, computer, shelving, furniture, and other items that may help directly or indirectly to produce income for the business.
The property taxes are taxable as well. The rates are assessed on a percentage basis depending on the value of the property. You can get the property tax bill by multiplying the assessed value with the local tax rate.
Inheritance and estate taxes may not apply to those who died on or after the 1st of January in 2005 following the federal law changes. At the same time, the state does not have any gift tax for transferred properties that occurred after the 1st of January in 1980.
Colorado State taxes allow taxpayers 15 funds to where they can direct their money. The state does not tax stocks, bonds, or bank accounts among other intangible properties. You may learn more information from the website of Colorado State taxes like the list of delinquent taxpayers and other relevant information.