Tax Policy

Taxes

• CO Ranks 34th lowest for State & Local Tax Burden (Tax Foundation)
• (Our income ranks 9th highest)
• Colorado's Tax Burden (Measured by taxes paid divided by income) is 43rd
  
• Colorado's combined state-local tax % has decreased every year since 1977
  
• Business Tax Climate 4th Lowest Taxes Overall in Nation?
• State & Local Tax Burden as % of Income = 9.5% or 38th in Nation
  
• Colorado’s Personal Income Tax ranks 6th Lowest (Among States That Have One)?
• CO State Corporate Income Tax Rates Ranks 44th Lowest in Nation
• CO State Corporate Income Tax Rate = 4.63%
  
• CO Sales Tax Rate = 2.9%
• CO Gas Tax per Gallon = $0.22
• CO Cigarette Tax = $0.84 Per Pack
• CO Spirits Tax per Gallon = $2.28
• CO Wine Tax Per Gallon = $0.32
• CO Beer Tax Per Gallon = $0.08
  
• CO Property Tax (% of Income) 29th in Nation?
• CO 1 of 12 States that Collect $0 State Level Property Tax?
• Per $1.00 CO pays in Fed Tax receives $0.78 from Fed Spending?
• CO ranks 49th in total state tax collections (Tax Foundation April 2004)

Revenue

• 56.5% State Revenue from Income Tax?
• 33.5% State Revenue from Sales Tax?
• 3.1% State Revenue from Corporate Income Tax?
• 2.9% State Revenue from Insurance Premium Tax?
• 1.6% State Revenue from Tobacco and Liquor Tax?
• 2.3% State Revenue from “Other”?
  
• CO Ranks 44th in "Federal Pork" Per Capita? (JBC Appropriations Report Fiscal Year 2003 – 2004)

Spending

• 43.4% State Spending Education?
• 29.4% State Spending Human Services & Health Care?
• 12.1% State Spending Corrections / Judicial?
• 10.6% State Spending Higher Education?
• 3.6% State Spending “Other”?
• 0.9% State Spending General Government?
  
• Outstanding State Debt Per Capita in CO Ranks 26th in Nation = ($2,146)
  *JBC Appropriations Report Fiscal Year 2003 – 2004

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