Colorado Paycheck Calculator Information
Our Colorado paycheck calculator helps you estimate your take-home pay after all deductions, including Colorado's flat 4.55% state income tax, federal taxes, Social Security, Medicare, and any applicable local taxes.
Colorado Tax Information (2023):
- • State Income Tax: Flat 4.55% rate (one of the lowest flat rates in the U.S.)
- • Local Taxes: Some municipalities like Denver have additional local taxes
- • Social Security: 6.2% on income up to $160,200
- • Medicare: 1.45% on all income (2.35% over $200,000 for single filers)
- • Federal Tax: Calculated based on your filing status and income level
How to Calculate Your Colorado Paycheck:
- Enter your gross pay amount (before any deductions)
- Select your pay frequency (weekly, bi-weekly, etc.)
- Choose your federal filing status (affects your tax brackets)
- Enter federal allowances (from your W-4 form)
- Add any additional withholding if you request extra taxes be taken out
- Enter local tax rate if your Colorado municipality has one
Colorado-Specific Paycheck Notes:
- • Colorado has a simple flat tax rate of 4.55% for all income levels
- • Denver has a local occupational privilege tax of $5.75 per month for employees
- • Some cities like Aurora and Greenwood Village have additional local taxes
- • Colorado allows deductions for retirement contributions and other items
- • No county or city income taxes except for specific local taxes mentioned above
Frequently Asked Questions
How accurate is this Colorado paycheck calculator?
Our calculator provides estimates based on Colorado's flat tax rate and current federal tax brackets. For precise figures, consult with a tax professional or your payroll department.
Does Colorado have local income taxes?
Most of Colorado doesn't have local income taxes, but some municipalities like Denver have small occupational privilege taxes that our calculator can account for if you enter the rate.
Why is Colorado state tax a flat rate?
Colorado voters approved a flat tax system (Taxpayer's Bill of Rights or TABOR) that applies the same 4.55% rate to all income levels, making tax calculations simpler than progressive systems.
When are Colorado state taxes due?
Colorado state income taxes are due April 15th each year, the same as federal taxes. Employers withhold Colorado taxes from each paycheck automatically.