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How to Calculate 2016 Colorado State Income Tax by Using State Income Tax Table

1. Find your income exemptions

2. Find your pretax deductions, including 401K, flexible account contributions ...

3. Find your gross income

4. Check the 2016 Colorado state tax rate and the rules to calculate state income tax

5. Calculate your state income tax step by step

6. If you want to simplify payroll tax calculations, you can download ezPaycheck payroll software, which can calculate federal tax, state tax, Medicare tax, Social Security Tax and other taxes for you automatically. You can try it free for 30 days, with no obligation and no credt card needed.

Learn more about the in house payroll tax solution for Colorado small businesses here.
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  COLORADO STATE TAX TABLES
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2018 Colorado State Tax Witholding Table
2017 Colorado State Tax Witholding Table
2016 Colorado State Tax Witholding Table
2015 Colorado State Tax Witholding Table
2014 Colorado State Tax Witholding Table
2013 Colorado State Tax Witholding Table
2012 Colorado State Tax Witholding Table
2011 Colorado State Tax Witholding Table
2010 Colorado State Tax Witholding Table

Tax rate used in calculating Colorado state tax for year 2016

State Abbreviation:

CO

State Tax Withholding State Code:

08

Acceptable Exemption Form:

None

Basis For Withholding:

Federal Exemptions

Acceptable Exemption Data:

None

TSP Deferred:

Yes

Special Coding:

None

Additional Information:

A state tax certificate is not required since Federal exemptions are used in the computation of the state formula.


Withholding Formula >(Colorado Effective 2016)<
  1. Subtract the nontaxable biweekly Thrift Savings Plan contribution from the gross biweekly wages.

  2. Subtract the nontaxable biweekly Federal Health Benefits Plan payment(s) (includes dental and vision insurance program, and flexible spending account - health care and dependent care deductions) from the amount computed in step 1.

  3. Add the taxable biweekly fringe benefits (taxable life insurance, etc.) to the amount computed in step 2 to obtain the adjusted gross biweekly wages.

  4. Multiply the adjusted gross biweekly wages times 26 to obtain the gross annual wages.

  5. Determine the exemption allowance by applying the following guideline and subtract this amount from the gross annual wages to compute the taxable income.
  6. Exemption Allowance = >$4,000< x Number of Exemptions

  7. Apply the taxable income computed in step 5 to the following table to determine the annual Colorado tax withholding.

  8. Tax Withholding Table
    Single

    If the Amount of
    Taxable Income Is:

    The Amount of Colorado
    Withholding Should Be:


    Over:

    But Not
    Over:

    Of Excess
    Over:

    $      0
    >$ 2,300
    $  0
    plus
        0%
    $      0
      2,300
    and over
        0
    plus
    4.63%
     2,300<


    Married

    If the Amount of
    Taxable Income Is:

    The Amount of Colorado
    Withholding Should Be:


    Over:

    But Not
    Over:

    Of Excess Over:

    $      0
    $  >  8,600
    $ 0
    plus
         0%
    $      0
      8,600
      and over
       0
    plus
    4.63%
      8,600 <

  9. Divide the annual Colorado tax withholding by 26 and round to the nearest dollar to obtain the biweekly Colorado tax withholding.

Need a Better Way to Calculate Colorado State Income Tax Withholdings?

Click here to view the step by step guide on
  • How to Calculate Colorado State Income Tax Withholdings Automatically

  • How to Create After the Fact Paychecks and Generate the Paystubs

  • How to Calculate Federal Withholding Tax

  • How to Print Paychecks with Stubs on Blank Stock



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