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Colorado Department of Revenue
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2020 Corporate Statistics of Income
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Table 9. Corporations that Conduct Business Only in Colorado: Income and Tax Data by Industry
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This table shows aggregate income and tax data by industry for C corporations that conduct business only in Colorado. This table is a subset of the data presented in Table 8.
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I. Number of Returns and Aggregate Dollar Amounts
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NAICS Code ¹Industry ¹ Number of Returns Federal Taxable Income ² Colorado Taxable Income ³ Colorado Gross Tax ⁴ Colorado Net Tax
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11Agriculture, Forestry, Fishing and Hunting805$6,539,808 ($1,430,961)$2,245,746 $2,044,780
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21Mining, Quarrying, and Oil and Gas Extraction257($294,787,872)($309,026,324)$680,638 $402,999
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22Utilities107($13,797,705)($9,265,215)$254,334 $245,529
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23Construction1,517$32,537,249 $39,027,335 $5,135,305 $5,003,200
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31-33Manufacturing971($104,695,178)($140,518,723)$4,058,055 $3,844,671
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42Wholesale Trade1,158($35,487,966)$4,604,808 $2,422,222 $2,388,439
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441Motor Vehicle and Parts Dealers163$13,450,141 $15,149,969 $1,041,093 $1,025,989
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442Furniture and Home Furnishings Stores54$453,266 $695,567 $63,980 $58,486
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443Electronics and Appliance Stores77($2,287,269)($2,253,292)$38,264 $38,264
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444Building Material and Garden Equipment and Supplies Dealers107$47,609,260 $15,106,235 $1,051,314 $978,769
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445Food and Beverage Stores207$10,308,352 $9,367,457 $701,709 $682,682
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446Health and Personal Care Stores121$37,301,048 $9,182,066 $867,248 $867,248
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447Gasoline Stations46$9,926,163 $10,368,805 $482,085 $459,019
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448Clothing and Clothing Accessories Stores71($2,613,598)($1,260,268)$81,696 $80,888
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451Sporting Goods, Hobby, Musical Instrument, and Book Stores92($3,345,681)($2,681,899)$173,216 $171,939
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452General Merchandise Stores247$341,230 $1,061,548 $95,938 $90,372
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453Miscellaneous Store Retailers324$64,892,052 $33,393,806 $1,990,583 $1,980,926
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454Nonstore Retailers770($3,373,639)($5,745,909)$548,343 $547,343
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48-49Transportation and Warehousing331($90,146,544)($89,754,691)$340,242 $338,731
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51Information524($117,629,688)($114,164,688)$1,238,852 $1,208,509
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52Finance and Insurance1,438($695,975,372)($14,625,808)$14,065,337 $13,928,275
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53Real Estate and Rental and Leasing6,728($46,766,025)($27,046,346)$9,645,316 $9,601,891
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54Professional, Scientific, and Technical Services3,010($452,726,684)($440,797,802)$4,502,090 $4,491,995
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56Administrative and Support and Waste Management and Remediation Services887$3,879,827 ($4,824,218)$637,977 $636,323
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61Educational Services155($6,462,036)($6,317,736)$101,065 $101,065
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62Health Care and Social Assistance949($57,838,888)($62,483,629)$1,824,063 $1,806,387
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71Arts, Entertainment, and Recreation330($17,404,962)($17,687,829)$194,840 $189,783
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721Accommodation113($28,473,128)($26,949,032)$85,232 $83,471
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722Food Services and Drinking Places492($17,372,294)($16,018,269)$557,308 $555,893
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55; 81Management of Companies and Enterprises; Other Services (except Public Administration)3,869($218,354,812)($137,939,289)$3,485,778 $3,420,280
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92Public Administration0$0 $0 $0 $0
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Total25,920($1,982,300,945)($1,292,834,332)$58,609,869 $57,274,146
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Source: Colorado C corporation income tax returns
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NR - Not releasable due to confidentiality requirements. Total includes NR data.
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¹ Industries are defined by the North American Industry Classification System (NAICS). NAICS codes are self-reported on returns. Returns without codes or with codes that do not match those defined by NAICS are excluded from this table. NAICS codes are updated every five years. This report uses 2017 NAICS definitions.
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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.
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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.
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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, 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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