HB 18-1203

HB 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.) , Read More