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2022 Corporate Statistics of Income
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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Part 1: Counts and Aggregate Dollar Amounts
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Size of Federal
Taxable Income ¹		 Number
of Returns 		Number of
Taxpayers ² 		Federal
Taxable Income ¹		 Colorado
Taxable Income ³ 		Colorado
Gross Tax ⁴ 		Colorado
Net Tax
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Negative Income16,01015,986($4,319,218,181)($3,512,357,080)$858,634 $857,282
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$0 under $10K9,8729,859$9,069,331 $9,772,083 $739,486 $729,496
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$10K under $20K724724$10,324,008 $12,225,865 $539,609 $523,484
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$20K under $30K414414$10,191,343 $10,646,366 $485,655 $476,487
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$30K under $40K323323$11,241,741 $11,108,628 $520,175 $495,410
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$40K under $50K234234$10,466,710 $10,548,344 $465,404 $450,251
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$50K under $60K170170$9,325,775 $9,421,741 $421,686 $394,319
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$60K under $75K212212$14,278,144 $13,673,444 $634,851 $619,678
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$75K under $100K220220$18,877,647 $18,055,115 $812,153 $775,514
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$100K under $200K516516$71,678,111 $63,506,994 $3,082,524 $2,904,018
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$200K under $500K468468$147,354,972 $138,260,040 $6,201,954 $6,045,480
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$500K under $1M243242$171,337,592 $156,112,940 $6,939,602 $6,742,958
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$1M and over310309$1,583,256,801 $1,363,457,913 $60,466,165 $59,571,470
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Total29,71629,662($2,251,816,006)($1,695,567,607)$82,167,898 $80,585,847
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Part 2: Counts and Average Dollar Amounts per Return
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Size of Federal
Taxable Income ¹		 Number
of Returns 		Number of
Taxpayers ² 		Federal
Taxable Income ¹		 Colorado
Taxable Income ³ 		Colorado
Gross Tax ⁴ 		Colorado
Net Tax
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Negative Income16,01015,986($269,783)($219,385)$54 $54
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$0 under $10K9,8729,859$919 $990 $75 $74
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$10K under $20K724724$14,260 $16,887 $745 $723
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$20K under $30K414414$24,617 $25,716 $1,173 $1,151
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$30K under $40K323323$34,804 $34,392 $1,610 $1,534
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$40K under $50K234234$44,730 $45,078 $1,989 $1,924
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$50K under $60K170170$54,858 $55,422 $2,481 $2,320
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$60K under $75K212212$67,350 $64,497 $2,995 $2,923
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$75K under $100K220220$85,807 $82,069 $3,692 $3,525
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$100K under $200K516516$138,911 $123,076 $5,974 $5,628
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$200K under $500K468468$314,861 $295,427 $13,252 $12,918
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$500K under $1M243242$705,093 $642,440 $28,558 $27,749
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$1M and over310309$5,107,280 $4,398,251 $195,052 $192,166
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Average29,71629,662($75,778)($57,059)$2,765 $2,712
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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 Occasionally, the number of taxpayers is smaller than the number of returns due to Corporate taxpayers filing multiple returns for a given tax year when they change their accounting period. One taxpayer can appear in more than one Size of Federal Taxable Income group. Because taxpayers may appear in multiple income groups, the sum of Number of Taxpayers values will exceed the total Number of Taxpayers presented because the total shows the distinct Number of Taxpayers for the state.
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³ 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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⁴ 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, Taxation Division, Colorado Department of Revenue | dor_ora@state.co.us
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Data extracted: August 22, 2024
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Publish date: April 2025
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End of worksheet
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