Colorado Paycheck Calculator

Use Federal Pension Advisors' Colorado paycheck calculator to find out your take-home pay for both salaried and hourly jobs. It helps you see how much you’ll actually take home after federal, state, and local taxes are deducted.

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Federal Taxes

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Dependents Amount

Other Income

Deductions

Additional Federal Withholding

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Note: The results provided by this calculator are estimates and should not be considered as financial advice. For precise calculations and personalized advice, please consult with a financial professional.

Colorado Taxes: An Overview

Colorado, known for Rocky Mountain National Park and luxury ski resorts, has a flat income tax rate of 4.40%. Besides state and federal taxes, residents of Aurora, Denver, Glendale, Greenwood Village, and Sheridan also pay local taxes.

Colorado Paycheck Quick Facts:

Colorado's income tax rate is 2.9%
The median household income in Colorado is $87,598, according to the U.S. Census Bureau
Five cities in Colorado have local income taxes

Understanding Your Colorado Paycheck

If you live in Colorado, your employer will take taxes out of every paycheck to pay for federal income taxes and FICA taxes. FICA taxes fund Social Security and Medicare. How much is taken out for federal taxes depends on what you put on your W-4 form. You need to fill out a new W-4 when you start a new job or if you want to change your withholdings, such as after getting married or having a child.

The IRS has recently updated the W-4 form. It no longer asks for total allowances but instead asks for dollar amounts for things like income tax credits, non-wage income, itemized deductions, and total annual taxable wages. The new W-4 has a five-step process to fill in personal details, claim dependents, and report any extra jobs or income. These changes mostly impact those who are updating their withholdings or starting a new job.

Your marital status and how you file your taxes (jointly or separately) also affect your paycheck taxes. Filing as head of household changes things too. Common-law couples in Colorado can choose to file jointly.

Having dependents will also impact your paycheck. Plus, how often you get paid affects the size of your paycheck—the more often you get paid, the smaller each paycheck will be.

Colorado Median Household Income

Year	Median Household Income
2022	$87,598
2021	$84,954
2020	$83,777
2019	$72,499
2018	$73,034
2017	$74,984
2016	$70,566
2015	$66,596
2014	$60,940
2013	$67,912

If you work in another state but live in Colorado, you may be eligible for a tax credit for taxes paid to that state. Additionally, if you’re an active-duty military member, you might not have state taxes withheld in Colorado. To benefit from this, you must establish Colorado as your state of legal residence by registering to vote or purchasing property there. Once you do this, your active duty pay will not be subject to Colorado state income tax.

Using paycheck calculators, such as the Paycheck Calculator Colorado or the South Carolina paycheck calculator, can help you understand how often you get paid and how taxes will impact your take-home pay.

How You Can Affect Your Colorado Paycheck

If you start a new job, you'll need to fill out a W-4 form, but you can also update it at any time. If you usually end up owing money when you file your taxes, you might want to ask your employer to withhold more taxes from your paychecks. To do this, just write the extra amount you want withheld on the W-4 form. For example, if you want $60 more taken out of each paycheck, write that amount on the appropriate line. This will make your paychecks smaller, but it means you're paying more throughout the year and won't face a large tax bill at once.

You can also adjust your paycheck by changing your pre-tax contributions. This can lower your taxable income and might even put you in a lower tax bracket. If your employer offers benefits like a Health Savings Account, commuter program, or flexible spending accounts, consider contributing more to these. You might also want to increase your contributions to retirement accounts like a 401(k) or 403(b).

Most Paycheck Friendly Places in Colorado

Rank	County, State	Semi-Monthly Paycheck	Purchasing Power	Unemployment Rate	Income Growth	Most Paycheck Friendly Index
1	Douglas County, CO	$2,374	3.03	2.5%	3.80%	76.78
2	Elbert County, CO	$2,374	2.73	2.4%	5.65%	76.13
3	Dolores County, CO	$2,374	1.82	3.0%	14.16%	75.25
4	Broomfield County, CO	$2,374	2.55	2.6%	5.24%	73.81
5	Gilpin County, CO	$2,374	2.30	2.7%	7.46%	73.52
6	Lake County, CO	$2,374	2.05	2.6%	9.27%	73.28
7	Summit County, CO	$2,374	2.14	2.2%	5.90%	71.53
8	Cheyenne County, CO	$2,374	2.16	1.9%	4.90%	71.30
9	Jefferson County, CO	$2,374	2.23	2.8%	5.46%	70.78
10	Boulder County, CO	$2,374	2.16	2.5%	5.05%	70.30
Colorado		$2,374	1.8	3.0%	4.4%

Why Use a Colorado Paycheck Calculator?

Understanding your take-home pay is essential for effective budgeting and financial planning. A Colorado paycheck calculator simplifies this process by accurately determining your net pay.
It takes into account various deductions such as federal taxes, state taxes, Social Security, Medicare, and any pre-tax deductions like health insurance or retirement contributions. By Using a calculator tailored to tax regulations, such as the Minnesota paycheck calculator or the Nebraska paycheck calculator, ensures that all relevant state-specific factors are included in your calculations.

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