2011 Tax Facts from the Taxpayer Network
June 13, 2011
Some information about Colorado compared to the 50 states:
- Colorado population is 5,029,196 - 22nd most populous
- Colorados Personal Income Per Capita is $42,262 - 15th highest in country
- Colorado's poverty rate is 11.9% - 32nd in the country
- Colorado's homeownership rates are 68.5% - 33rd in the country
- Colorado's maximum corporate income tax rate 4.63%
- Colorado's state and local tax burden as % of income 8.6% - 39th in country
- Colorado's state sales tax is 2.9%
- Colorado's state cigarette tax is $0.84 per pack
- Colorado's state gas tax is $0.22 - 33rd in country
- Colorado's spirit tax is $2.28 galon, wine $0.32 gallon, beer $0.08 gallon
- Colorado is 10th friendliest state for entrepreneurs
- Colorado has the 14th highest rate of patents in the country
- Colorado ranks 34th in how much state share of funding for K12 is
- Colorado ranks 30th in public school funding per pupil
- Colorado ranks 32nd in state support for higher education
- Colorado ranks 24th in state per capita on spending on natural resources, parks & rec
- Colorado ranks 46th in state highway spending per capita
- Colorado ranks 6th in the nation on corrections spending per capita
- Colorado ranks 22nd in the nation for the % of people without health insurance for year
- Colorado ranks 25th in annual Medicaid spending per capita
- Colorado ranks 48th in expenditures on public welfare per capita
SOURCE: Taxpayer Network 2011
This is not a judgment on whether any of these levels are adequate to achieve any given result or public policy but wanted to share this updated information with you. There are a few takeaways: Colorado's tax rates are relatively low. Our investment in education is comparatively low. Our spending on corrections is high. Our poverty support is low.
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