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Colorado Department of Revenue
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2020 Individual Statistics of Income
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Table 7. Income and Tax Data for Filers Under 65 by Size of Federal AGI ¹
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This table summarizes aggregate income and tax data for full-year resident returns where the primary filer (and spouse if filing jointly) was under 65 during calendar year 2020. See Table 8 for filers aged 65 and older.
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I. Number of Returns and Aggregate Dollar Amounts
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Size of Federal AGI Number
of Returns 		Federal AGI Federal
Taxable Income 		Colorado
Taxable Income ² 		Federal Tax Colorado
Gross Tax ³ 		Colorado
Net Tax
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Negative Income23,057($2,760,348,567)$0 ($2,214,102,290)$12,575,756 $2,551,281 $2,996,804
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$0 under $10K252,231$1,173,372,759 $20,378,357 ($1,312,025,860)$26,076,671 $4,357,744 $4,351,541
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$10K under $20K230,700$3,438,452,300 $509,707,000 $415,293,429 $105,951,193 $32,290,021 $32,104,097
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$20K under $30K233,818$5,859,947,789 $2,405,839,845 $2,512,325,703 $264,238,845 $117,458,045 $116,819,274
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$30K under $40K231,486$8,081,609,528 $4,520,338,149 $4,563,798,493 $452,839,211 $210,107,913 $209,093,047
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$40K under $50K193,121$8,653,919,738 $5,562,504,953 $5,545,754,793 $563,424,579 $254,195,791 $252,800,511
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$50K under $60K152,918$8,378,439,142 $5,792,490,110 $5,751,456,120 $612,182,301 $262,947,430 $261,289,563
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$60K under $75K172,426$11,568,309,923 $8,381,054,588 $8,316,800,913 $986,041,001 $379,480,753 $376,600,046
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$75K under $100K196,066$16,974,912,443 $12,850,033,694 $12,736,150,065 $1,590,459,193 $580,656,605 $575,571,108
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$100K under $200K327,112$45,135,328,175 $36,743,041,728 $36,366,050,484 $5,347,088,037 $1,656,144,932 $1,637,355,391
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$200K under $500K126,295$36,287,517,340 $31,822,321,493 $31,540,816,648 $6,296,227,920 $1,435,379,502 $1,400,516,094
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$500K under $1M18,831$12,669,694,882 $11,549,627,880 $11,487,199,544 $3,078,287,353 $522,857,641 $493,194,994
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$1M and over8,666$25,111,693,012 $23,097,772,702 $22,511,095,023 $6,884,373,182 $1,044,839,501 $935,078,251
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Total2,166,727$180,572,848,464 $143,255,110,499 $138,220,613,065 $26,219,765,242 $6,503,267,159 $6,297,770,721
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II. Number of Returns and Average Dollar Amounts per Return
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Size of Federal AGI Number
of Returns 		Federal AGI Federal
Taxable Income 		Colorado
Taxable Income ² 		Federal Tax Colorado
Gross Tax ³ 		Colorado
Net Tax
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Negative Income 23,057 ($119,718)$0 ($96,027)$545 $111 $130
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$0 under $10K 252,231 $4,652 $81 ($5,202)$103 $17 $17
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$10K under $20K 230,700 $14,904 $2,209 $1,800 $459 $140 $139
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$20K under $30K 233,818 $25,062 $10,289 $10,745 $1,130 $502 $500
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$30K under $40K 231,486 $34,912 $19,527 $19,715 $1,956 $908 $903
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$40K under $50K 193,121 $44,811 $28,803 $28,716 $2,917 $1,316 $1,309
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$50K under $60K 152,918 $54,790 $37,880 $37,611 $4,003 $1,720 $1,709
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$60K under $75K 172,426 $67,091 $48,607 $48,234 $5,719 $2,201 $2,184
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$75K under $100K 196,066 $86,578 $65,539 $64,958 $8,112 $2,962 $2,936
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$100K under $200K 327,112 $137,981 $112,326 $111,173 $16,346 $5,063 $5,005
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$200K under $500K 126,295 $287,323 $251,968 $249,739 $49,853 $11,365 $11,089
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$500K under $1M 18,831 $672,811 $613,331 $610,015 $163,469 $27,766 $26,191
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$1M and over 8,666 $2,897,726 $2,665,333 $2,597,634 $794,412 $120,568 $107,902
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Average 2,166,727 $83,339 $66,116 $63,792 $12,101 $3,001 $2,907
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Source: Federal and Colorado individual income tax returns (full-year residents only)
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¹ Returns without birth dates listed on the federal return are excluded from this table.
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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.
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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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Date extracted: August 25, 2022
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Publish date: September 2024
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