USA State Taxes
COLORADO (CO)
STATE INCOME TAX (SIT)
| Description | Amount | Effective Date | Website | Deposit Method / Frequency / Threshold | Forms |
|---|---|---|---|---|---|
| Wage Withholding | 4.40% | Unchanged from 2023 |
Colorado Department of Revenue- Withholding Payroll Tax Register with Colorado Business Express |
Quarterly EFT - $0-$6,999.99 Monthly EFT $7000 - $50000 Weekly EFT - Over $50,000 (Jun-Jul of Prior Year) File & Pay at Revenue Online |
Withholding Tax Forms and Tax Tables Use Federal W-4 for both federal & state. |
| Supplemental Wage / Bonus Rate | 4.40% | Decreased from 4.55% in 2023 |
| Notes: | No reciprocal agreement between states. If no taxes have been withheld during the filing period, a return reporting zero tax withheld must be filed. |
STATE UNEMPLOYMENT INSURANCE (SUI)
| Description | Amount | Effective Date | Website | Deposit Method / Frequency / Threshold | Forms |
|---|---|---|---|---|---|
| Maximum Taxable Earnings | $23,800 | Increase from $20,400 in 2023 |
Colorado Department of Labor and Employment
|
Premiums & Wage Reports Due Quarterly, 1 month following quarter. Online, FTP or paper. Min. $1500 wages in calendar quarter during prior or current calendar year or employed at least one person for any part of a day in 20 weeks during the prior or current calendar year. This does not have to be the same person for all weeks nor consecutive weeks. |
|
| Employee Deduction | None | ||||
|
Employer Tax Rate (includes support rate & solvency surcharge) |
0.64 - 8.68% | Decrease from 2023 | |||
|
New Employment Rate - Standard (includes support rate & solvency surcharge) |
3.05% | Increase from 2023 | |||
| Voluntary Contribution Permitted | Yes |
STATE DISABILITY INSURANCE
| Description | Amount | Effective Date | Website |
|---|---|---|---|
| Employee Paid Family Leave Insurance (Wage base $168,600) | 0.45% of employee's wage | 2024 |
Colorado Family and Medical Leave Insurance
|
| Employee Maximum Deduction Paid Family Leave Insurance | $758.70 | 2024 | |
|
Employer Paid Family Leave Insurance (Premium 0.9% split 50/50) |
0.45% of employee's wage |
2024 |
NEW HIRE REPORTING
| Website | Frequency / Method | Forms |
|---|---|---|
| New Hire | Same as federal requirements. Electronic: website or FTP. Contact Colorado Department of Human Resources, Child Support Services |
LOCAL WITHHOLDING TAXES
| Description | Amount | Website | Deposit Method / Frequency / Threshold | Forms |
|---|---|---|---|---|
| City of Aurora - Occupational Privilege Tax (OPT) |
$2.00 /month /employee Employers match amount. |
Aurora OPT |
If gross earnings are $250 or more /month and employee works within the city for any period of time during month. Filed monthly if more than 25 employees and quarterly if less than 25 employees. Due on the last day of the month following the taxable period |
See Website link. |
| City of Denver - Occupational Privilege Tax (OPT) |
$5.75 /month /employee $4.00 Employer pays per taxable employee Additionally, the employer is required to pay the business OPT at a rate of $4.00 per month for each owner, partner, or manager engaged in business in Denver regardless of how much they earn. |
Denver OPT |
If gross earnings are $500 or more /month and employee works within the city for any period of time during month. Monthly - All businesses with 10 or more employees - due last day of the month following the taxable month. Quarterly - All businesses with fewer than 10 employee - 30-Apr, 31-Jul, 31-Oct and 31-Jan. Annual Filing - Allowed for individuals, sole proprietors, and partnerships without employees - 31-Jan. |
See website link. OPT Withholding Certificate Denver (TD269) |
| City of Glendale - Occupational Privilege Tax (OPT) |
$5.00 /month /employee Employers match amount. Self- employed individuals, owners, partners and officers who are not paid a salary or commission are subject to only the employer portion of the tax. |
Glendale OPT |
If gross earnings are $750 or more /month and employee works within the city for any period of time during month. Monthly - > than sixty dollar ($60.00) tax liability per month Quarterly - < than one hundred dollars ($100.00) in tax liability per quarter Annually only upon approval of the Tax Inspector. |
See website link. |
| City of Greenwood Village - Occupational Privilege Tax (OPT) |
$2.00 /month /employee Employers match amount. |
Greenwood Village OPT |
Must apply for Occupational Privilege Tax License. One-time fee of $10.00. If $250 or more is earned in a calendar month. Owners, partners, and officers who do not earn a minimum of $250 a month are only subject to the employer portion. Mail in remittance form.
|
See website link. |
| City of Sheridan - Occupational Privilege Tax (OPT) |
$3.00 / month /employee Employers match amount. |
Sheridan OPT |
If gross earnings are $500 or more /month and employee works within the city for any period of time during month. Al businesses in Sheridan or performing work in Sheridan required to pay minimum of $3.00 /month Business OPT even if there are no taxable employees. |
See website link. |
WEBSITES
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Last updated Jan 2024