Tips And Gratuities Tax Deduction
Concerning the deduction of tips received by a taxpayer from the taxpayer's federal taxable income when calculating Colorado taxable income.
2020 Extraordinary Session
Fiscal Policy & Taxes
The bill allows a taxpayer to deduct the total amount of tips received by a taxpayer during the 2021 income tax year from the taxpayer's federal taxable income for purposes of calculating the taxpayer's 2021 Colorado taxable income.
(Note: This summary applies to this bill as introduced.)