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Colorado Department of Revenue
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2021 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 ²		 Colorado
Taxable Income ¹ 		Colorado
Gross Tax ³ 		Colorado
Net Tax
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Negative Income 16,009 ($3,691,024,485)($2,999,481,927)$636,045 $625,164
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$0 under $10K 9,584 $8,885,295 $14,865,763 $870,996 $856,465
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$10K under $20K 729 $10,630,248 $10,128,118 $511,774 $500,660
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$20K under $30K 414 $10,127,172 $6,025,771 $469,156 $458,585
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$30K under $40K 320 $11,076,392 $10,405,390 $480,184 $467,382
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$40K under $50K 199 $8,938,987 $8,832,846 $398,040 $382,571
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$50K under $60K 166 $9,120,115 $9,114,709 $410,842 $385,814
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$60K under $75K 238 $15,894,273 $15,744,545 $708,548 $681,357
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$75K under $100K 267 $23,183,994 $22,161,066 $1,011,448 $967,238
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$100K under $200K 487 $69,320,394 $67,067,718 $3,094,641 $2,999,271
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$200K under $500K 494 $155,562,299 $129,771,411 $6,457,323 $6,256,524
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$500K under $1M 234 $161,177,832 $142,625,084 $6,507,587 $6,382,938
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$1M and over 356 $1,673,453,254 $1,513,543,589 $68,381,122 $67,704,925
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Total 29,497 ($1,533,654,230)($1,049,195,917)$89,937,706 $88,668,894
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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 ²		 Colorado
Taxable Income ¹ 		Colorado
Gross Tax ³ 		Colorado
Net Tax
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Negative Income 16,009 ($230,559)($187,362)$40 $39
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$0 under $10K 9,584 $927 $1,551 $91 $89
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$10K under $20K 729 $14,582 $13,893 $702 $687
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$20K under $30K 414 $24,462 $14,555 $1,133 $1,108
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$30K under $40K 320 $34,614 $32,517 $1,501 $1,461
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$40K under $50K 199 $44,920 $44,386 $2,000 $1,922
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$50K under $60K 166 $54,940 $54,908 $2,475 $2,324
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$60K under $75K 238 $66,783 $66,154 $2,977 $2,863
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$75K under $100K 267 $86,831 $83,000 $3,788 $3,623
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$100K under $200K 487 $142,342 $137,716 $6,354 $6,159
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$200K under $500K 494 $314,903 $262,695 $13,072 $12,665
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$500K under $1M 234 $688,794 $609,509 $27,810 $27,278
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$1M and over 356 $4,700,711 $4,251,527 $192,082 $190,182
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Average 29,497 ($51,994)($35,570)$3,049 $3,006
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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 24, 2023
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Publish date: July 2024
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