This tax calculator is for general information only and does not represent personal tax advice either expressed or implied. The calculations used assume an average taxpayer. It is an approximation.
This calculator relies on DOR data to convert income to "taxable income." See Table 12 page 91 of the
Colorado Tax Profile Expenditure Survey.
CFI modified this data to include federal tax code changes that occured in December 2017 (specifically the eliminate of the personal exemption and the doubling of the standard deduction). This had the effect of expanding taxable income.
For instance, before the federal tax changes, a Colorado taxpayer would need about $200,000 in income to reach $150,000 in taxable income. Now a taxpayer needs about $180,000 in income to reach $150,000 in taxable income.
*Remember: Some taxpayers can deduct state income taxes paid from their federal tax liability.