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.)
Read More
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 (8)
amendsSB 18-240(2018A)· signedRevised Uniform Unclaimed Property Act
amendsHB 17-1136(2017A)· signedConsistent Statutes For Electronic Filing Of Taxes
relatesHB 18-1023(2018A)· signedRelocate Title 12 Marijuana To New Title 44
relatesHB 17-1058(2017A)· signedReporting Requirements By Department Of Personnel And Administration To General Assembly
relatesHB 18-1025(2018A)· signedRelocate Title 12 Liquor Laws To Title 44
repealsSB 17-267(2017A)· signedSustainability Of Rural Colorado
Affected by (40)
amendsSB 23-303(2023A)· signedReduce Property Taxes And Voter-approved Revenue Change
amendsHB 19-1258(2019A)· signedAllocate Voter-approved Revenue For Education & Transportation
amendsSB 25-026(2025A)· signedAdjusting Certain Tax Expenditures
amendsSB 26-135(2026A)· passedState Public K-12 Education Funding
amendsHB 23-1121(2023A)· signedRepeal Of Infrequently Used Tax Expenditures
amendsHB 26-1289(2026A)· signedModification of Certain Tax Expenditures
amendsHB 24-1036(2024A)· signedAdjusting Certain Tax Expenditures
amendsHB 23-1275(2023A)· signedModification Of The Film Production Incentive
amendsHB 25-1296(2025A)· signedTax Expenditure Adjustment
relatesHB 18-1202(2018A)· signedIncome Tax Credit Leave Of Absence Organ Donation
relatesSB 22-233(2022A)· signedTABOR Refund Mechanism For FY 2021-22 Only
relatesHB 23-1046(2023A)· signedTax Credit Pre-adoption Leave
relatesHB 24-1134(2024A)· signedAdjustments to Tax Expenditures to Reduce Burden
relatesHB 25-1274(2025A)· signedHealthy School Meals for All Program
relatesHB 24-1439(2024A)· signedFinancial Incentives Expand Apprenticeship Programs
relatesHB 23-1275(2023A)· signedModification Of The Film Production Incentive
relatesHB 23-1006(2023A)· signedEmployer Notice Of Income Tax Credits
relatesSB 23-066(2023A)· signedAdvanced Industry Acceleration Programs
relatesHB 24-1396(2024A)· signedGeneral Fund Transfer to Advanced Industries Programs
relatesHB 23-1277(2023A)· signedReporting Adjustments To Taxable Income
relatesHB 24-1358(2024A)· signedFilm Incentive Tax Credit
relatesHB 24-1312(2024A)· signedState Income Tax Credit for Careworkers
relatesSB 22-238(2022A)· signed2023 And 2024 Property Tax
repealsHB 23B-1005(2023B)· signedMatters Related To Tax Relief For Tax Year 2023
repealsHB 24-1036(2024A)· signedAdjusting Certain Tax Expenditures
repealsHB 24-1243(2024A)· signedIncome Tax Owed by Minors on Earned Income
repealsHB 23-1063(2023A)· signedReduction Of State Income Tax Rate
repealsHB 22-1025(2022A)· signedRepeal Of Infrequently Used Tax Expenditures
repealsHB 24-1065(2024A)· signedReduction of State Income Tax Rate
repealsSB 24-228(2024A)· signedTABOR Refund Mechanisms
repealsSB 25-138(2025A)· signedPermanent Reductions to State Income Tax
repealsHB 24-1134(2024A)· signedAdjustments to Tax Expenditures to Reduce Burden
repealsHB 22-1125(2022A)· signedIncome Tax Rate Reduction
repealsSB 19-055(2019A)· failedReduce State Income Tax Rate
repealsHB 22-1021(2022A)· signedReduce State Income Tax Rate
Votes
BILL
2018-04-19 · Senate · pass — Yes: 18 · No: 17 · Other: —