Tag: Taxes
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20,000 Colorado taxpayers eligible for $8 million in unclaimed refunds
The state of Colorado has started sending notices to an estimated 20,000 taxpayers who may be eligible for a total of $8 million in unclaimed tax refunds. The notices, which will be sent out through June 30, 2026, are part of an effort by Gov. Jared Polis, the Colorado Department of Revenue, the New Practice…
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Colorado bingo nonprofits don’t always tell the IRS what they tell the state, some say nothing
Editor’s note: This is the last in a three-part series examing Colorado’s $110 million charitable gaming industry. Colorado nonprofits that rely on charitable gaming to raise funds – most through bingo nights – are required to file regular financial reports with state regulators that track how much money comes in, how much goes out and…
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Will Colorado courts curb lawmakers’ backdoor taxes
During its August special session, the Colorado General Assembly passed several bills to raise tax revenue and partially fill the growing chasm between federal tax policy and progressive Democrats’ insatiable spending. Although the Taxpayers Bill of Rights (TABOR) in our state constitution requires a public vote on any “tax policy change directly causing a net…
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EDITORIAL: Propositions LL & MM — good money after bad
As if Coloradans needed another reason to vote against the tax hikes of Propositions LL and MM — placed on this November’s ballot by our free-spending legislature — a new analysis released this week provides as good an argument as any. The Common Sense Institute’s latest report on the subject reminds us the fundamentally misguided…
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Colorado’s fiscal future continues to be clouded by tariffs, revenue drops and recession fears
State economists on Monday presented continuing data that shows a weakened economic outlook for Colorado and continued risks for a near-term recession. The Joint Budget Committee, comprised of six lawmakers from the General Assembly who annually craft the state budget, saw at least some encouraging signs. The committee’s four Democrats lauded last month’s special session,…
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Here’s how this graduated income tax proposal would affect Colorado residents’ take-home pay
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The measure that seeks to eliminate Colorado’s flat rate in favor of a graduated income tax contains a dozen brackets, with the highest levels set to accrue tens of thousands more in liabilities, while cutting them for individuals at the lower ends of the proposed spectrum. How it would impact individuals will depend on their…
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Ballot measure seeks tax hike for higher income earners in 2026
A coalition led by a Colorado think tank will file a ballot initiative on Wednesday to raise state income tax rates on annual household incomes and corporations with earnings above $500,000. The ballot measure, which sets up a “graduated” income tax, would also provide a tax break for households with incomes below the $500,000 threshold.…
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Here is how Colorado’s corporate taxes will change
Colorado tax policy currently is “coupled” with federal tax policy. What that means is when the federal government changes tax policy, Colorado’s policy automatically conforms to those changes. Changes to the federal tax code enacted through H.R. 1 resulted in the state losing $1.2 billion in income tax revenue, Democrats and state analysts said. Republicans…
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Westminster ballot measure may ask for tax increases to improve fire department
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Facebook Twitter WhatsApp SMS Email Print Copy article link Save Westminster voters may have to decide on an increased sales tax rate in the city this November. The City Council met with survey research firm Magellan Strategies Monday evening to discuss the potential ballot measure that would place a 0.35% sales tax increase throughout the…
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Denver recreational marijuana data sheds light on revenues versus cost of industry. What could be ahead for Colorado Springs?
As Colorado Springs voters weigh whether to legalize recreational marijuana sales, proponents are stressing the potential to collect millions in new city tax revenue and opponents have highlighted high costs it could drive for the city. Voters will consider two recreational marijuana questions in November. One that would only allow the existing 115 medical shops…