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Colorado Department of Revenue
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2020 Corporate Statistics of Income
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Table 6. Corporations that Conduct Business Only in Colorado: Income and Tax Data by Size of Federal Taxable Income
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This table shows aggregate income and tax data by federal taxable income group for C corporations that conduct business only in Colorado. This table is a subset of the data presented in Table 5.
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I. Number of Returns and Aggregate Dollar Amounts
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Size of Federal Taxable Income ¹ Number of Returns Federal Taxable Income ¹ Colorado Taxable Income ² Colorado Gross Tax ³ Colorado Net Tax
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Negative Income 15,586 ($3,464,458,805)($2,571,240,724)$410,745 $398,739
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$ 0 to $ 9,999 9,373 $7,317,771 $37,424,856 $2,033,532 $2,005,533
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$ 10,000 to $ 19,999 622 $9,048,876 $9,421,943 $431,589 $414,215
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$ 20,000 to $ 29,999 384 $9,507,799 $9,727,922 $442,613 $431,510
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$ 30,000 to $ 39,999 223 $7,704,431 $8,363,908 $380,548 $373,131
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$ 40,000 to $ 49,999 188 $8,357,731 $8,298,938 $377,603 $369,321
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$ 50,000 to $ 59,999 170 $9,308,596 $9,917,221 $451,202 $441,230
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$ 60,000 to $ 74,999 171 $11,588,060 $11,933,765 $543,283 $522,457
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$ 75,000 to $ 99,999 228 $19,807,523 $19,435,482 $884,267 $844,013
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$ 100,000 to $ 199,999 458 $65,316,406 $74,500,268 $3,417,424 $3,307,760
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$ 200,000 to $ 499,999 405 $129,347,088 $120,257,920 $5,547,490 $5,347,425
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$ 500,000 to $ 999,999 208 $147,577,872 $131,382,808 $6,044,350 $5,817,216
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$ 1,000,000 and over 293 $1,103,506,442 $854,122,846 $39,189,612 $38,541,581
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Total 28,309 ($1,936,070,210)($1,276,452,847)$60,154,258 $58,814,131
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II. Number of Returns and Average Dollar Amounts per Return
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Size of Federal Taxable Income ¹ Number of Returns Federal Taxable Income ¹ Colorado Taxable Income ² Colorado Gross Tax ³ Colorado Net Tax
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Negative Income 15,586 ($222,280)($164,971)$26 $26
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$ 0 to $ 9,999 9,373 $781 $3,993 $217 $214
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$ 10,000 to $ 19,999 622 $14,548 $15,148 $694 $666
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$ 20,000 to $ 29,999 384 $24,760 $25,333 $1,153 $1,124
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$ 30,000 to $ 39,999 223 $34,549 $37,506 $1,706 $1,673
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$ 40,000 to $ 49,999 188 $44,456 $44,143 $2,009 $1,964
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$ 50,000 to $ 59,999 170 $54,756 $58,337 $2,654 $2,595
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$ 60,000 to $ 74,999 171 $67,766 $69,788 $3,177 $3,055
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$ 75,000 to $ 99,999 228 $86,875 $85,243 $3,878 $3,702
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$ 100,000 to $ 199,999 458 $142,612 $162,664 $7,462 $7,222
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$ 200,000 to $ 499,999 405 $319,376 $296,933 $13,698 $13,204
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$ 500,000 to $ 999,999 208 $709,509 $631,648 $29,059 $27,967
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$ 1,000,000 and over 293 $3,766,234 $2,915,095 $133,753 $131,541
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Average 28,309 ($68,391)($45,090)$2,125 $2,078
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Source: Colorado C corporation income tax returns
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¹ The Federal taxable income (FTI) reported on Colorado returns can be positive, zero, or negative. The FTI is negative when the taxpayer reports losses and/or deductions greater than their income.
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² The Colorado Taxable Income (CTI) reported on Colorado returns can be positive, zero, or negative. The CTI is negative when the taxpayer reports losses and/or subtractions greater than their income and additions. Negative values do not reduce their tax liability to be less than $0. When the CTI data is aggregated by size of Federal Taxable Income, the values include positive and negative numbers.
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³ Colorado Gross Tax is determined based on Colorado Taxable Income greater than zero. To calculate positive Colorado Taxable Income, divide the Colorado Gross Tax by the income tax rate.
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Prepared by: Office of Research and Analysis, Colorado Department of Revenue | dor_ora@state.co.us
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Data extracted: August 25, 2022
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Publish date: February 2023
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