HB 18-1203
signedReduce State Income Tax
Plain-English Summary
AI-generatedHB 18-1203 is a Colorado bill that reduces the state income tax rate for both individuals and corporations from 4.63% to 4%, effective January 1, 2018. It also lowers the alternative minimum tax by 0.63%. This means that people and businesses in Colorado will pay less in state taxes starting from early 2018. The bill has been signed into law, so these changes are now in effect for taxpayers.
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%. The bill also reduces the state alternative minimum tax by 0.63% for income tax years commencing on and after January 1, 2018.
(Note: This summary applies to this bill as introduced.)
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Details
- Chamber
- House
- First action
- 2018-03-08
- Latest action
- 2018-02-05
- Last action desc.
- Introduced In House - Assigned to State, Veterans, & Military Affairs + Appropriations
- OpenStates
- View source ↗
Related Legislation
This bill affects (3)
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
repealsSB 17-267(2017A)· signedSustainability Of Rural Colorado
Affected by (38)
amendsSB 26-135(2026A)· passedState Public K-12 Education Funding
amendsSB 18-061(2018A)· signedReduce The State Income Tax Rate
amendsSB 18-240(2018A)· signedRevised Uniform Unclaimed Property Act
amendsHB 19-1258(2019A)· signedAllocate Voter-approved Revenue For Education & Transportation
amendsHB 25-1296(2025A)· signedTax Expenditure Adjustment
amendsHB 24-1036(2024A)· signedAdjusting Certain Tax Expenditures
amendsSB 23-303(2023A)· signedReduce Property Taxes And Voter-approved Revenue Change
amendsHB 23-1275(2023A)· signedModification Of The Film Production Incentive
relatesHB 23-1275(2023A)· signedModification Of The Film Production Incentive
relatesSB 22-238(2022A)· signed2023 And 2024 Property Tax
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 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 24-1439(2024A)· signedFinancial Incentives Expand Apprenticeship Programs
relatesHB 24-1358(2024A)· signedFilm Incentive Tax Credit
relatesHB 24-1312(2024A)· signedState Income Tax Credit for Careworkers
relatesHB 23-1277(2023A)· signedReporting Adjustments To Taxable Income
relatesHB 24-1134(2024A)· signedAdjustments to Tax Expenditures to Reduce Burden
relatesHB 25-1274(2025A)· signedHealthy School Meals for All Program
repealsHB 22-1125(2022A)· signedIncome Tax Rate Reduction
repealsHB 23B-1005(2023B)· signedMatters Related To Tax Relief For Tax Year 2023
repealsSB 18-061(2018A)· signedReduce The State Income Tax Rate
repealsHB 22-1025(2022A)· signedRepeal Of Infrequently Used Tax Expenditures
repealsSB 25-138(2025A)· signedPermanent Reductions to State Income Tax
repealsHB 23-1063(2023A)· signedReduction Of State Income Tax Rate
repealsHB 24-1134(2024A)· signedAdjustments to Tax Expenditures to Reduce Burden
repealsHB 24-1065(2024A)· signedReduction of State Income Tax Rate
repealsHB 24-1243(2024A)· signedIncome Tax Owed by Minors on Earned Income
repealsSB 24-228(2024A)· signedTABOR Refund Mechanisms
repealsSB 19-055(2019A)· failedReduce State Income Tax Rate
repealsHB 22-1021(2022A)· signedReduce State Income Tax Rate