Colorado uses minimum wage rates that are substantially higher than the rates required by the federal government. Case in point, the rates required by the city of Denver are over twice as high as the federally required rates. The state also has a paid sick leave program guaranteeing time off for eligible employees Show
When it comes to processing payroll, Colorado-based organizations must handle the following taxes in addition to those required by the federal government The below information was last updated July 28, 2023. It is not intended as legal or tax advice Colorado Minimum Wage RatesWage Type Denver Rates Colorado Rates Federal Rates Minimum Wage $17. 29$13. 65$7. 25Tipped Minimum Wage $14. 27$10. 62$2. 13Actual Tip Credit $3. 02$3. 02$5. 12Wage Type Denver Rates Colorado Rates Federal Rates Minimum Wage $17. 29$13. 65$7. 25Tipped Minimum Wage $14. 27$10. 62$2. 13Actual Tip Credit $3. 02$3. 02$5. 12Colorado State Income Tax (SIT) RatesColorado has a flat income tax rate of 4. 4%, meaning all residents pay the same amount regardless of their income levels Additional Colorado SIT Details Valid Filing Statuses
Exemptions
Form W-4 DR-0004Reconciliation Frequency Annual Additional Colorado SIT Details Valid Filing Statuses
Exemptions
Form W-4 DR-0004Reconciliation Frequency Annual Colorado State Unemployment Insurance (SUI) RatesSUI provides unemployment benefits to eligible workers who are unemployed through no fault of their own (as determined by state law) and meet the state’s eligibility requirements Colorado SUI Tax Details Taxable Wage Base $20,400 Employee Subject to Tax No Rates for Experienced Employers 0. 75% - 10. 39% Rates for New Employers 1. 70% Effective Period Calendar Year Voluntary Contributions Allowed Yes; must be made before March 15 Colorado SUI Tax Details Taxable Wage Base $20,400 Employee Subject to Tax No Rates for Experienced Employers 0. 75% - 10. 39% Rates for New Employers 1. 70% Effective Period Calendar Year Voluntary Contributions Allowed Yes; must be made before March 15 Colorado State Disability Insurance (SDI) RatesSDI benefits are funded by employees through mandatory payroll deductions from each paycheck. Colorado, however, doesn't require employers to collect an SDI tax Miscellaneous Colorado Tax InformationReciprocal Agreement(s)Reciprocal agreements are when workers who live and work in different states are only required to pay taxes to the state where they live. Colorado currently has no reciprocal agreements with any other states This doesn’t mean, however, that interstate workers living in Colorado pay double. It’s federally illegal for two states to tax the same income. In most cases, the employee’s work state will credit or refund them at tax time based on the taxes they owe their home state. If the tax rates differ, the employee must cover the difference Paid Sick Leave (PSL)Colorado doesn't require employers to collect PSL taxes, but the state does have the following program Colorado PSL Details Covered EmployeesAll employees in the stateAccrual Method(s)One hour for every 30 hours workedAnnual Accrual Maximum48 hoursCarryover Maximum48 hoursFAQHealthy Families and Workplaces Act (HFWA)Colorado PSL Details Covered EmployeesAll employees in the stateAccrual Method(s)One hour for every 30 hours workedAnnual Accrual Maximum48 hoursCarryover Maximum48 hoursFAQHealthy Families and Workplaces Act (HFWA)Paid Family and Medical Leave (PFML) TaxesLike SDI, Colorado’s Family and Medical Leave Insurance (FAMLI) program is a benefit funded via mandatory payroll deductions. Colorado’s program, however, won’t begin providing benefits until January 1, 2024 Colorado PFML Tax DetailsCovered EmployeesMost employees who have earned at least $2,500 in wages within the state over the period of one year. Self-employed workers may choose to opt into coverage if they both live and work in the state. Covered EmployersAll employers with at least one covered employee, except for local government employers and employees, federal employees, and self-employed individuals. Tax Rate 0. 9 of an employee’s wages up to the federal wage base for social security taxes ($160,200 in 2023) This rate is split evenly (0. 45% for each) between employers and employees, except for employers with 9 or fewer employees, who are only required to collect and remit the employee’s 0. 45% portion to the state FAQsColorado PFML Tax DetailsCovered EmployeesMost employees who have earned at least $2,500 in wages within the state over the period of one year. Self-employed workers may choose to opt into coverage if they both live and work in the state. Covered EmployersAll employers with at least one covered employee, except for local government employers and employees, federal employees, and self-employed individuals. Tax Rate 0. 9 of an employee’s wages up to the federal wage base for social security taxes ($160,200 in 2023) This rate is split evenly (0. 45% for each) between employers and employees, except for employers with 9 or fewer employees, who are only required to collect and remit the employee’s 0. 45% portion to the state FAQsNote, the FAMLI program is not the same as the state’s Family Medical Leave Act (FMLA) which provides up to 480 hours of protected, unpaid leave to eligible workers within a 12-month period Local TaxesIn addition to the state-wide taxes mentioned above, the following cities and localities also require an Occupational Privilege Tax (OPT), also known as a “head tax”
Colorado Employer RegistrationThe agencies below can help with your state-based employer registration, including best practices, account numbers, and unemployment information. Contact the Department of Revenue for withholding tax topics and the Department of Labor & Employment for unemployment tax topics Registration Details Department of Revenue Department of Labor & Employment Phone (303) 592-5920(303) 318-9100Online Registration MyBizColorado RegistrationRegistration Form Form CR 0100Form UITL-100Registration Instructions Online and paper registration options are available, but non-profit organizations must use paper registration Account numbers are issued in 2-3 days via online process or 7-14 days via mail. Separate account numbers for each tax type are issued under a combined registration Online and paper registration options are available Account numbers are issued in 2-3 days via online process or 7-14 days via mail. Separate account numbers for each tax type are issued under a combined registration Employer Self-Service Login MyUI Employer+ Login PageRegistration Details Department of Revenue Department of Labor & Employment Phone (303) 592-5920(303) 318-9100Online Registration MyBizColorado RegistrationRegistration Form Form CR 0100Form UITL-100Registration Instructions Online and paper registration options are available, but non-profit organizations must use paper registration Account numbers are issued in 2-3 days via online process or 7-14 days via mail. Separate account numbers for each tax type are issued under a combined registration Online and paper registration options are available Account numbers are issued in 2-3 days via online process or 7-14 days via mail. Separate account numbers for each tax type are issued under a combined registration Employer Self-Service Login MyUI Employer+ Login PageAdditional Colorado Payroll Tax ResourcesThis information is provided as a courtesy and may be updated at any time. It is not intended as legal or tax guidance. If you have questions or concerns, we encourage you to seek the advice of a qualified CPA, tax attorney, or advisor  Get Taxes Done Right, Without the StressWe know there's a lot that goes into preparing and filing payroll tax forms. Save time and get support from our expert team. As a Registered Reporting Agent with the IRS, we can help prepare and file all the necessary forms you need to remain compliant - even in the face of changing legislation. Learn more here Payroll Tax ServicesPayroll Tax Stress? We Got ThisYou have enough to worry about running your day-to-day business. Let Paylocity handle the complications of payroll tax filing Payroll Tax Serviceseyebrow . btn. btn-gradient { background. #343e48 . important; } . eyebrow . dropdown-menu a. btn-gradient, . eyebrow . dropdown-menu a. btn-primary { color. #343e48 . important; background-color. #fff . important; } . navbar-desktop . dropdown-menu-mega, . navbar-desktop . dropdown-menu-mega . text-gray, . navbar-desktop . dropdown-menu-mega a, . navbar-desktop . dropdown-menu-mega h2, . navbar-desktop . dropdown-menu-mega h3, . navbar-desktop . dropdown-menu-mega *, . navbar-desktop . dropdown-menu-mega svg, . navbar-desktop . dropdown-menu-mega svg * { color. #fff . important; stroke. #fff . important; } #headerBanner a. btn. btn-primary { background. #343e48; } input. btn. btn-gradient. primary { background. #fff . important; color. #343e48 . important; } . bg-secondary . navigation-tile a. navigation-pod. active, . bg-secondary . navigation-tile a. navigation-pod. focus, . bg-secondary . navigation-tile a. navigation-pod. hover { color. #343e48 . important; text-decoration. none; background-image. none; background-repeat. repeat-x; background-color. #fff; } . product-showcase. bg-secondary . navigation-tile a. navigation-pod. hover svg, . product-showcase. bg-secondary . navigation-tile a. navigation-pod. hover svg *, . product-showcase. bg-secondary . navigation-tile a. navigation-pod. active svg, . product-showcase. bg-secondary . navigation-tile a. navigation-pod. active svg *, . product-showcase. bg-secondary . navigation-tile a. navigation-pod. focus svg, . product-showcase. bg-secondary . navigation-tile a. navigation-pod. focus svg * { stroke. #343e48 . important; } . umbraco-forms-Dark. 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Go to MyUI Employer, which allows easy access to your unemployment insurance rate information. . Call CDLE UI Employers Services at (303) 318-9100 or toll-free at 1-800-480-8299 (option #3) What is Colorado's state unemployment tax rate?Colorado State Unemployment Insurance (SUI) Rates What is the percentage of unemployment insurance in Colorado?Basic Info. Colorado Insured Unemployment Rate is at 0. 82% , compared to 0. 83% last week and 0. 62% last year. This is lower than the long term average of 1. 62%.
What is the mt sui wage base for 2023?The taxable wage base for 2023 is $40,500 which is 80% of the 2021 average annual wage in Montana ($50,622. ) rounded to the nearest $100. How do I e-file Unemployment Insurance reports? Go online to uieservices. mt. gov. |
