SB 18-061
signedReduce The State Income Tax Rate
Plain-English Summary
AI-generatedSenate 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.)
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Details
- Chamber
- Senate
- First action
- 2018-05-02
- Latest action
- 2018-01-11
- Last action desc.
- Introduced In Senate - Assigned to Finance
- OpenStates
- View source ↗
Related Legislation
This bill affects (24)
amendsHB 17-1290(2017A)· failedColorado Secure Savings Plan
amendsSB 18-240(2018A)· signedRevised Uniform Unclaimed Property Act
amendsHB 18-1209(2018A)· signedNo 529 Account Income Tax Deduction For K-12 Kindergarten Through Twelfth Expenses
amendsSB 18-265(2018A)· signedChild Care Savings Account Income Tax Benefits
amendsHB 18-1001(2018A)· signedFAMLI Family Medical Leave Insurance Program
amendsHB 17-1007(2017A)· failedTax Benefit Employer Collegeinvest Contribution
amendsSB 17-075(2017A)· signedIncome Tax Deduction For Military Retirement Benefits
amendsHB 17-1104(2017A)· signedExclude Olympic Medal Income From Taxable Income
amendsHB 17-1324(2017A)· failedEducational Opportunity Tax Incentives
amendsHB 18-1023(2018A)· signedRelocate Title 12 Marijuana To New Title 44
amendsHB 17-1307(2017A)· failedFamily And Medical Leave Insurance Program Wage Replacement
amendsHB 18-1221(2018A)· signedIncome Tax Deduction For 529 Account Kindergarten Through Twelfth Grade Expenses
amendsHB 18-1298(2018A)· signedColorado Secure Savings Plan
amendsHB 18-1025(2018A)· signedRelocate Title 12 Liquor Laws To Title 44
amendsHB 17-1136(2017A)· signedConsistent Statutes For Electronic Filing Of Taxes
relatesHB 17-1058(2017A)· signedReporting Requirements By Department Of Personnel And Administration To General Assembly
relatesSB 17-267(2017A)· signedSustainability Of Rural Colorado
relatesHB 17-1341(2017A)· failedMajor IT Information Technology Project Procurement Timeline
relatesHB 18-1169(2018A)· signedSupplemental Appropriation - Department Of Treasury
repealsSB 17-267(2017A)· signedSustainability Of Rural Colorado
Affected by (106)
amendsHB 22-1025(2022A)· signedRepeal Of Infrequently Used Tax Expenditures
amendsHB 24-1036(2024A)· signedAdjusting Certain Tax Expenditures
amendsHB 24-1065(2024A)· signedReduction of State Income Tax Rate
amendsSB 23-303(2023A)· signedReduce Property Taxes And Voter-approved Revenue Change
amendsHB 22-1310(2022A)· signed529 Account Apprenticeship Expenses
amendsSB 25-013(2025A)· signedSenior Housing Income Tax Credit Extension
amendsHB 23B-1005(2023B)· signedMatters Related To Tax Relief For Tax Year 2023
amendsSB 22-084(2022A)· signed529 Plan Education Loan Payment Eligible Distribution
amendsHB 22-1125(2022A)· signedIncome Tax Rate Reduction
amendsHB 22-1021(2022A)· signedReduce State Income Tax Rate
amendsHB 23-1063(2023A)· signedReduction Of State Income Tax Rate
amendsHB 22-1019(2022A)· signedModifications To Qualified State Tuition Programs
amendsSB 25-026(2025A)· signedAdjusting Certain Tax Expenditures
amendsHB 22-1414(2022A)· signedHealthy Meals For All Public School Students
amendsSB 26-135(2026A)· passedState Public K-12 Education Funding
amendsHB 26-1289(2026A)· signedModification of Certain Tax Expenditures
amendsHB 25-1296(2025A)· signedTax Expenditure Adjustment
amendsHB 25-1012(2025A)· signedIncome Tax Expenditures for Service Members
amendsHB 23-1128(2023A)· signedIncome Tax Credits And Deductions Married Taxpayers
amendsSB 23-221(2023A)· signedHealthy School Meals For All Program Fund
amendsHB 23-1047(2023A)· signedJoint Filing Deduction Qualified Tuition Program
amendsHB 23-1275(2023A)· signedModification Of The Film Production Incentive
amendsHB 23-1121(2023A)· signedRepeal Of Infrequently Used Tax Expenditures
amendsHB 23-1083(2023A)· signedQualified Higher Education Expenses Aviation Training
amendsHB 18-1359(2018A)· signedColorado Charitable Contribution Income Tax Deduction
amendsSB 23-208(2023A)· signedCorrection Of Certain Tax Statute Cross References
amendsHB 25-1012(2025B)· failedPrescription Drug Benefit Information Transparency
amendsHB 22-1007(2022A)· signedAssistance Landowner Wildfire Mitigation
relatesSB 25-302(2025A)· signedAchieving a Better Life Experience Tax Deduction
relatesHB 25-1021(2025B)· failedRetention of Vendors Fees for Collecting Sales Tax.
relatesHB 25-1021(2025A)· signedTax Incentives for Employee-Owned Businesses
relatesSB 23-106(2023A)· signedIncome Tax Deduction For Military Retirement Benefits
relatesHB 24-1142(2024A)· signedReduce Income Tax Social Security Benefits
relatesHB 24-1396(2024A)· signedGeneral Fund Transfer to Advanced Industries Programs
relatesSB 22-093(2022A)· signedExpand Senior And Veteran Property Tax Exemptions
relatesHB 22-1183(2022A)· signedDepartment of Treasury Supplemental
relatesHB 18-1060(2018A)· signedIncome Tax Deduction For Military Retirement Benefits
relatesHB 26-1351(2026A)· signedHealthy School Meals for All State Education Fund
relatesHB 22-1320(2022A)· signedAchieving A Better Life Experience Savings Accounts
relatesHB 23-1084(2023A)· signedContinuation Of Military Retirement Benefit Deduction
relatesSB 22-233(2022A)· signedTABOR Refund Mechanism For FY 2021-22 Only
relatesHB 24-1439(2024A)· signedFinancial Incentives Expand Apprenticeship Programs
relatesHB 24-1312(2024A)· signedState Income Tax Credit for Careworkers
relatesHB 22-1125(2022A)· signedIncome Tax Rate Reduction
relatesHB 22-1205(2022A)· signedSenior Housing Income Tax Credit
relatesHB 26-1221(2026A)· failedTax Expenditure Adjustments
relatesSB 23-107(2023A)· signedSenior And Veterans With Disabilities Property Tax Exemption
relatesSB 23-134(2023A)· signedDepartment of Treasury Supplemental
relatesHB 23-1052(2023A)· signedMod Prop Tax Exemption For Veterans With Disab
relatesSB 23-036(2023A)· signedVeterans With Disab Prop Tax Exemption Reqmnts
relatesSB 26-135(2026A)· passedState Public K-12 Education Funding
relatesHB 22-1127(2022A)· signedIncome Tax Deduction For Rent
relatesHB 22-1163(2022A)· signedState Income Tax Deduction For Medical Expenses
relatesHB 22-1123(2022A)· signedStandard Deduction Adjustment
relatesHB 23-1275(2023A)· signedModification Of The Film Production Incentive
relatesHB 23-1277(2023A)· signedReporting Adjustments To Taxable Income
relatesSB 25-136(2025A)· signedExpand Deduction For Retirement Benefits
relatesSB 25-138(2025A)· signedPermanent Reductions to State Income Tax
relatesSB 23-290(2023A)· signedNatural Medicine Regulation And Legalization
relatesHB 23-1309(2023A)· signedFilm Incentive Tax Credit
relatesSB 24-126(2024A)· signedConservation Easement Income Tax Credit
relatesHB 23-1189(2023A)· signedEmployer Assistance For Home Purchase Tax Credit
relatesSB 25-310(2025A)· signedProposition 130 Implementation
relatesSB 25-214(2025A)· signedHealthy School Meals for All Program
relatesHB 24-1243(2024A)· signedIncome Tax Owed by Minors on Earned Income
relatesHB 24-1240(2024A)· signedAmeriCorps Education Award Tax Subtraction
relatesSB 23-303(2023A)· signedReduce Property Taxes And Voter-approved Revenue Change
relatesHB 24-1134(2024A)· signedAdjustments to Tax Expenditures to Reduce Burden
relatesHB 24-1358(2024A)· signedFilm Incentive Tax Credit
relatesHB 26-1419(2026A)· signedOver-Refund of Excess State Revenues
relatesHB 25-1274(2025A)· signedHealthy School Meals for All Program
relatesHB 26-1062(2026A)· failedExpand Deduction for Retirement Benefits
relatesSB 22-238(2022A)· signed2023 And 2024 Property Tax
relatesHB 18-1202(2018A)· signedIncome Tax Credit Leave Of Absence Organ Donation
relatesHB 23-1046(2023A)· signedTax Credit Pre-adoption Leave
relatesHB 23-1006(2023A)· signedEmployer Notice Of Income Tax Credits
relatesSB 23-066(2023A)· signedAdvanced Industry Acceleration Programs
relatesHB 24-1202(2024A)· signedDepartment of Treasury Supplemental
relatesSB 24-228(2024A)· signedTABOR Refund Mechanisms
relatesHB 24-1052(2024A)· signedSenior Housing Income Tax Credit
relatesSB 25-110(2025A)· signedDepartment of Treasury Supplemental
relatesHB 26-1171(2026A)· signedDepartment of Treasury Supplemental
relatesHB 22-1343(2022A)· signedGeneral Fund Exempt Account And Excess State Revenues
repealsSB 25-138(2025A)· signedPermanent Reductions to State Income Tax
repealsSB 24-228(2024A)· signedTABOR Refund Mechanisms
repealsHB 25-1274(2025A)· signedHealthy School Meals for All Program
repealsHB 24-1243(2024A)· signedIncome Tax Owed by Minors on Earned Income
repealsHB 23B-1005(2023B)· signedMatters Related To Tax Relief For Tax Year 2023
repealsHB 22-1021(2022A)· signedReduce State Income Tax Rate
repealsHB 23-1063(2023A)· signedReduction Of State Income Tax Rate
repealsHB 24-1065(2024A)· signedReduction of State Income Tax Rate
repealsHB 22-1125(2022A)· signedIncome Tax Rate Reduction
repealsHB 23B-1004(2023B)· signed2023 Property Tax Reduction Policy Study
repealsHB 22-1025(2022A)· signedRepeal Of Infrequently Used Tax Expenditures
Votes
BILL
2018-04-19 · Senate · pass — Yes: 18 · No: 17 · Other: —