Colorado Department Of Revenue

State law has also lowered the rate temporarily in some years to refund TABOR surplus revenue, and SB 24228 set it at 4.25% for tax year 2024 and allows such cuts through tax year 2034.

The Colorado Department of Revenue lists the rate at 4.4% for 2025.

Elsewhere in the region, Wyoming levies no individual or corporate income tax according to the Wyoming Legislative Service Office, and Nevada has no individual income tax according to the Nevada Department of Taxation.

Arizona's flat rate is 2.5% for 2026 according to the Arizona Department of Revenue.

We are almost through all of the motions.

We have faced a motion to dismiss both from our Attorney General, as we were assuming the Colorado Department of Revenue for issuing a license, and then Scout proceeded to intervene.

So there are two motions to dismiss against us.

We have briefed those motions, and now we are in a waiting period for the court to rule on them.

We've got this.

Interestingly, in Colorado, The Colorado Department of Revenue keeps track of the effective tax rate, and they do it in, I think, quad trials.

I forget how many.

And if you're making about $30,000 a year, your effective income tax rate with our flat tax is 1.3%.

Sure.

Yeah, I definitely started at the very bottom, literally working in a sub-basement of a building, working in the mailroom of the Colorado Department of Revenue.

Many years ago, you know, I actually went to college and studied biology.

I have a degree in biology, but I have never really used it.

So not only are they not paying income taxes, they're actually getting money back from the state.

The numbers you have come from the Colorado Department of Revenue.

When were these numbers taken?

This is from a 2024 report, but the data is from 2020.

Here's how they built it.

They took the Colorado Department of Revenue's own tax return data, they aged it forward year by year out to twenty-fifty, and then they taxed every return twice, once under today's flat tax, then once under Amendment eighty-seven exactly as written.

The difference between those two tax returns is the answer.

And they also tell you right up front that this model assumes that nobody moves, nobody changes how they file, nobody restructures a business.

So here's what the homework that Corey did.

He went to the Colorado Department of Revenue's own tax tables to find out whether people are already walking into that line.

And he was careful about it.

He said he could not isolate the $300,000 level.

And I could not find the answer to it.

And before I ended up finding out the answer from the Colorado Department of Revenue.

But I looked up a local competitor to him and I emailed and I said, are you charging sales tax on your product? And he was like, I can't remember what he said, if it was yes or no.

But he ended up reaching out to me a year later and said, I'm looking for a new CPA.