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Colorado Department of Revenue
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2020 Individual Statistics of Income
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Table 5. Income and Tax Data for Taxable Returns by Size of Federal AGI ¹
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This table shows aggregate income and tax data for full-year residents by AGI group for returns with Colorado gross tax liability. This table is a subset of the data presented in Table 1. See Table 6 for returns without Colorado gross tax liability.
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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 Income 704 ($1,204,520,139)$0 NR$2,180,355 $5,175,093 $8,035,842
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$0 under $10K 22,301 $128,139,509 $19,808,165 $101,554,683 $3,497,332 $4,620,113 $4,582,346
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$10K under $20K 153,058 $2,445,504,802 $515,641,370 $735,814,497 $74,545,195 $33,475,948 $33,260,613
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$20K under $30K 231,091 $5,813,264,101 $2,467,507,665 $2,657,935,972 $262,277,317 $120,928,535 NR
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$30K under $40K 241,974 $8,457,761,328 $4,719,075,102 $4,752,280,911 $474,302,069 $216,220,990 NR
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$40K under $50K 213,575 $9,575,695,000 $6,144,577,697 $5,852,915,033 $626,021,962 $266,301,819 NR
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$50K under $60K 175,185 $9,605,037,710 $6,615,063,410 $6,209,583,645 $703,392,712 $282,530,810 NR
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$60K under $75K 208,627 $14,012,248,665 $10,072,717,479 $9,259,096,107 $1,194,580,238 $421,285,662 NR
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$75K under $100K 250,924 $21,746,077,319 $16,300,166,920 $14,718,507,960 $2,026,343,956 $669,690,891 NR
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$100K under $200K 420,193 $57,814,733,697 $46,764,581,435 $43,549,691,000 $6,798,873,536 $1,981,510,635 NR
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$200K under $500K 156,239 $44,885,672,874 $39,236,857,467 $38,093,688,601 $7,691,356,679 $1,733,262,809 NR
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$500K under $1M 23,586 $15,881,677,730 $14,427,577,370 $14,266,980,215 $3,771,763,945 $649,147,558 $607,757,102
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$1M and over 11,428 $34,157,721,868 $31,093,848,200 NR$9,113,303,728 $1,414,845,623 $1,259,443,794
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Total 2,108,885 $223,319,014,464 $178,377,422,280 $171,407,298,791 $32,742,439,024 $7,798,996,486 $7,509,152,427
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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 704 ($1,710,966)$0 NR$3,097 $7,351 $11,415
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$0 under $10K 22,301 $5,746 $888 $4,554 $157 $207 $205
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$10K under $20K 153,058 $15,978 $3,369 $4,807 $487 $219 $217
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$20K under $30K 231,091 $25,156 $10,678 $11,502 $1,135 $523 NR
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$30K under $40K 241,974 $34,953 $19,502 $19,640 $1,960 $894 NR
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$40K under $50K 213,575 $44,835 $28,770 $27,404 $2,931 $1,247 NR
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$50K under $60K 175,185 $54,828 $37,760 $35,446 $4,015 $1,613 NR
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$60K under $75K 208,627 $67,164 $48,281 $44,381 $5,726 $2,019 NR
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$75K under $100K 250,924 $86,664 $64,961 $58,657 $8,076 $2,669 NR
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$100K under $200K 420,193 $137,591 $111,293 $103,642 $16,180 $4,716 NR
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$200K under $500K 156,239 $287,289 $251,134 $243,817 $49,228 $11,094 NR
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$500K under $1M 23,586 $673,352 $611,701 $604,892 $159,915 $27,523 $25,768
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$1M and over 11,428 $2,988,950 $2,720,848 NR$797,454 $123,805 $110,207
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Average 2,108,885 $105,894 $84,584 $81,279 $15,526 $3,698 $3,561
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Source: Federal and Colorado individual income tax returns (full-year residents only)
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NR - Not releasable due to confidentiality requirements. Total includes NR data.
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¹ Taxable returns are those reporting a value greater than zero for Colorado Gross Tax (2020 Colorado Form 104, Line 10).
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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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Data extracted: August 25, 2022
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Publish date: September 2024
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