Second Regular Session | 74th General Assembly
Colorado General AssemblyReport No. 2018-TE5
Note: A more recent evaluation was issued in May 2023. Click HERE to access the May 2023 report.
Three state taxes apply to marijuana, but medical and retail marijuana are taxed differently. Both medical and retail marijuana are subject to the 2.9 percent state sales tax, which is applied to most purchases in the state. Additionally, retail marijuana is subject to a 10 percent sales tax,...
Focus Colorado presents forecasts for the economy and state government revenue through FY 2016-17. Implications of the forecast for the state's General Fund budget and spending limit are described in the report's highlights and executive summary sections. The report is based on current law,...
In 1992, voters approved an amendment to the Colorado Constitution — Article X, Section 20 — known as the Taxpayer's Bill of Rights (TABOR). TABOR limits annual growth in state spending.
Colorado's Taxpayer's Bill of Rights (TABOR) requires voter approval of any new taxes. Prior to voter approval, it also requires that voters receive estimates of state spending without new taxes and the new tax revenue. Proposition AA, which authorized the 10 percent sales tax and the 15 percent...
Focus Colorado presents forecasts for the economy and state government revenue through FY 2016-17. Implications of the forecast for the state's General Fund budget and spending limit are described in the report's highlights and executive summary sections. The report is based on current law,...
Colorado's individual income tax form allows a taxpayer to make a voluntary contribution to any one of 15 funds, each of which benefits a program or charitable organization (organization). This issue brief provides information on the income tax "checkoff" program and the selection of...
Pursuant to Interim Committee Letter 2014-6. The purpose of this committee is to evaluate and make recommendations regarding appropriate uses of sales tax revenue generated by recreational marijuana sales in Colorado.
The individual income tax is the largest source of General Fund revenue, accounting for 60 percent of General Fund collections in FY 2013-14. This issue brief provides a brief history of Colorado income tax rates, discusses the general process for determining Colorado’s individual income tax,...
In response to natural disasters that have hit Colorado in recent years, the General Assembly has enacted a number of tax breaks aimed at mitigating or relieving the impact of these disasters on taxpayers. Tax breaks can take a number of different forms, such as an income tax deduction,...
In 2000, voters approved Amendment 20, allowing the possession and use of medical marijuana in Colorado. In 2012, voters approved Amendment 64, legalizing marijuana for use by adults aged 21 and older. Sales of retail marijuana for adult use began on January 1, 2014.