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Issue Briefs

2019 Temporary Income Tax Rate Reduction (20-02)

Subject
Fiscal Policy & Taxes
Published
01/14/2020

When Colorado taxpayers file their 2019 income taxes, they will pay tax at a rate of 4.50 percent, rather than the state’s usual 4.63 percent rate.  The rate reduction affects state income tax payments by all taxpayers, including individuals, corporations, non-corporate businesses, and other fiduciaries.  This issue brief provides information on this temporary income tax rate reduction.

The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details