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Colorado Department of Revenue
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2020 Corporate Statistics of Income
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Table 3. Corporations that Conduct Business Only in Colorado: Income and Tax Data by Size of Colorado Taxable Income
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This table shows aggregate income and tax data by Colorado taxable income group for C corporations that conduct business only in Colorado. This table is a subset of the data presented in Table 1.
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I. Number of Returns and Aggregate Dollar Amounts
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Size of Colorado Taxable Income ¹ Number of Returns Federal Taxable Income ² Colorado Taxable Income ¹ Colorado Gross Tax ³ Colorado Net Tax
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Negative Income 15,120 ($3,055,600,701)($2,598,643,135)$0 $0
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$ 0 to $ 9,999 9,616 $41,862,600 $8,850,146 $402,664 $394,865
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$ 10,000 to $ 19,999 744 ($13,132,507)$10,737,452 $488,555 $465,917
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$ 20,000 to $ 29,999 411 $3,820,952 $10,257,201 $466,681 $454,661
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$ 30,000 to $ 39,999 271 $9,873,734 $9,413,329 $428,307 $414,579
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$ 40,000 to $ 49,999 202 $8,570,705 $9,038,731 $411,266 $401,606
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$ 50,000 to $ 59,999 171 $10,055,929 $9,376,209 $426,618 $411,207
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$ 60,000 to $ 74,999 184 $13,277,199 $12,445,270 $566,230 $542,949
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$ 75,000 to $ 99,999 247 $23,360,132 $21,509,159 $978,621 $945,474
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$ 100,000 to $ 199,999 488 ($146,964,910)$69,045,685 $3,141,465 $3,039,490
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$ 200,000 to $ 499,999 402 $167,664,577 $127,685,661 $5,809,534 $5,584,231
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$ 500,000 to $ 999,999 206 $141,722,603 $143,704,328 $6,537,031 $6,291,370
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$ 1,000,000 and over 247 $859,419,477 $890,127,117 $40,497,286 $39,867,782
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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 Colorado Taxable Income ¹ Number of Returns Federal Taxable Income ² Colorado Taxable Income ¹ Colorado Gross Tax ³ Colorado Net Tax
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Negative Income 15,120 ($202,090)($171,868)$0 $0
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$ 0 to $ 9,999 9,616 $4,353 $920 $42 $41
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$ 10,000 to $ 19,999 744 ($17,651)$14,432 $657 $626
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$ 20,000 to $ 29,999 411 $9,297 $24,957 $1,135 $1,106
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$ 30,000 to $ 39,999 271 $36,434 $34,736 $1,580 $1,530
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$ 40,000 to $ 49,999 202 $42,429 $44,746 $2,036 $1,988
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$ 50,000 to $ 59,999 171 $58,807 $54,832 $2,495 $2,405
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$ 60,000 to $ 74,999 184 $72,159 $67,637 $3,077 $2,951
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$ 75,000 to $ 99,999 247 $94,575 $87,082 $3,962 $3,828
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$ 100,000 to $ 199,999 488 ($301,158)$141,487 $6,437 $6,228
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$ 200,000 to $ 499,999 402 $417,076 $317,626 $14,452 $13,891
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$ 500,000 to $ 999,999 206 $687,974 $697,594 $31,733 $30,541
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$ 1,000,000 and over 247 $3,479,431 $3,603,754 $163,957 $161,408
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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 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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² 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. When the FTI data is aggregated by size of Colorado 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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