The nation's only statewide tax vote on the November ballot asks Colorado voters whether they want to temporarily raise taxes to generate $3 billion for classrooms and colleges — a proposal that has stirred fierce opposition because of the stagnant economy.
The vote could serve as a test of voters' mood on tax increases and their frustration after endless rounds of education cuts in Colorado.
The measure would raise individual and corporate tax rates from 4.63 percent to 5 percent and Colorado's sales and use tax rate from 2.9 percent to 3 percent. The rates would be in effect from 2012 through 2016, with an estimated $2.9 billion in new revenue during that time going to K-12 schools and public colleges.
Learn more at: http://www.msnbc.msn.com/id/45095450/ns/us_news-life/
View current CO State Income Tax Table at:
http://www.halfpricesoft.com/2011/taxrate-colorado-2011.asp