SB 18-061

Senate Bill 18-061, which has been signed into law, reduces Colorado's state income tax rate for both individuals and corporations from 4.63% to 4.43%. It also lowers the state alternative minimum tax by 0.2%. This change affects anyone who pays state income taxes in Colorado and took effect starting January 1, 2018. Since it has been signed, this bill is now law and taxpayers are already seeing a lower tax rate on their returns.

Official Summary

For income tax years commencing on and after January 1, 2018, the bill reduces both the individual and the corporate state income tax rate from 4.63% to 4.43%. The bill also reduces the state alternative minimum tax by 0.2% for income tax years commencing on and after January 1, 2018. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.) Read More

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