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2022 Corporate Statistics of Income
Table 10. Corporations that Conduct Business Within and Outside of 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 within and outside of Colorado. This table is a subset of the data presented in Table 8.
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Intentionally left blank
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Part 1: Counts and Aggregate Dollar Amounts
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2022 NAICS
Code ¹		Industry ¹Number
of Returns		Number of
Taxpayers ²		Federal
Taxable Income ³		 Colorado
Taxable Income ⁴ 		Colorado
Gross Tax ⁵ 		Colorado
Net Tax
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 11 Agriculture, Forestry, Fishing and Hunting213213$375,067,280 ($3,270,754)$1,082,394 $1,035,158
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 21 Mining, Quarrying, and Oil and Gas Extraction529524$45,379,155,061 $291,161,515 $19,805,082 $19,244,898
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 22 Utilities120119($2,041,289,493)($81,929,462)$1,590,278 $1,574,953
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 23 Construction845844$19,088,151,644 $722,114,003 $35,984,257 $35,063,228
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31-33Manufacturing3,5033,488$567,042,747,062 $4,152,480,574 $216,984,656 $209,124,903
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 42 Wholesale Trade2,6302,623$108,145,745,300 $1,399,842,681 $68,085,672 $66,478,212
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 441 Motor Vehicle and Parts Dealers5656$5,876,266,529 $215,478,724 $9,746,110 $9,573,558
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 444 Building Material and Garden Equipment and Supplies Dealers4545$34,004,127,813 $704,087,132 $31,301,921 $30,872,254
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 445 Food and Beverage Retailers6868$2,560,363,140 $31,365,767 $6,238,018 $5,729,028
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 449 Furniture, Home Furnishings, Electronics, and Appliance Retailers127127NRNR$1,477,924 $1,476,924
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 455 General Merchandise Retailers3737$21,642,084,956 $298,343,458 NRNR
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 456 Health and Personal Care Retailers9391$322,238,928 ($3,760,602)$348,875 $321,454
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 457 Gasoline Stations and Fuel Dealers66$1,036,684,809 $9,650,014 $424,600 $330,125
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 458 Clothing, Clothing Accessories, Shoe, and Jewelry Retailers100100$6,226,849,239 $90,268,763 $4,430,293 $4,400,265
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 459 Sporting Goods, Hobby, Musical Instrument, Book, and Miscellaneous Retailers210208$609,095,949 $30,298,138 NRNR
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48-49Transportation and Warehousing480477$32,675,662,196 $343,360,264 $27,023,154 $21,067,729
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 51 Information2,4982,468$169,564,168,899 $1,120,672,554 $84,525,159 $82,687,172
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 52 Finance and Insurance5,3445,326$208,812,567,758 $1,888,075,806 $122,938,007 $120,764,597
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 53 Real Estate and Rental and Leasing2,3602,349$5,639,745,528 ($247,020,217)$20,006,724 $19,575,104
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 54 Professional, Scientific, and Technical Services8,3668,290$88,220,517,434 $480,115,231 $67,001,534 $64,120,522
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 56 Administrative and Support and Waste Management and Remediation Services1,0181,016$15,166,317,958 $231,254,113 $12,231,300 $11,803,090
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 61 Educational Services257254$1,362,345,093 $29,570,506 $2,072,222 $2,063,346
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 62 Health Care and Social Assistance579578$511,268,752 ($171,539,225)$3,477,004 $3,475,099
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 71 Arts, Entertainment, and Recreation272271$7,254,643,329 $2,824,126,177 NRNR
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 721 Accommodation113112$8,298,377,683 $135,008,512 $6,938,974 $6,938,974
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 722 Food Services and Drinking Places153152$11,013,336,144 $182,802,889 $9,605,803 $9,471,364
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55; 81Management of Companies and Enterprises; Other Services (except Public Administration)3,6103,587$474,342,989,447 $6,285,980,950 $320,892,004 $291,731,353
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 92 Public Administration33NRNRNRNR
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TotalTotal33,63533,431$1,833,164,185,400 $20,985,818,267 $1,216,302,487 $1,160,613,476
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Intentionally left blank
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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 2022 NAICS definitions.
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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 Industry group. Because taxpayers may appear in multiple Industry 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 Federal taxable income (FTI) includes income from outside of Colorado because this table includes corporations that conduct business within and outside of Colorado. The 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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⁴ 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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⁵ 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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