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Colorado Department of Revenue
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2020 Individual Statistics of Income
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Table 6. Income and Tax Data for Nontaxable 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 without Colorado gross tax liability. This table is a subset of the data presented in Table 1. See Table 5 for returns with 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 34,920 ($4,227,192,718)$0 NR$14,859,445 $0 $430,072
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$0 under $10K 277,355 $1,253,324,721 $876,486 ($2,097,340,888)$26,766,381 $0 $25,780
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$10K under $20K 122,704 $1,661,313,615 $40,137,401 ($837,738,668)$41,586,894 $0 $16,662
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$20K under $30K 40,591 $990,435,884 $177,917,394 ($499,991,618)$29,470,711 $0 NR
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$30K under $40K 22,315 $769,385,687 $280,117,801 ($310,305,655)$29,839,459 $0 NR
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$40K under $50K 11,078 $494,493,213 $184,741,357 ($188,131,978)$18,481,832 $0 NR
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$50K under $60K 8,147 $445,790,766 $203,432,442 ($114,087,078)$20,703,355 $0 NR
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$60K under $75K 6,658 $442,768,891 $228,660,991 ($90,632,875)$24,298,470 $0 NR
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$75K under $100K 2,158 $181,535,537 $78,055,506 ($65,101,249)$8,302,276 $0 NR
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$100K under $200K 1,014 $127,881,965 $51,538,243 ($56,066,596)$6,316,569 $0 NR
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$200K under $500K 142 $40,120,526 $13,467,169 ($12,955,521)$2,986,042 $0 NR
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$500K under $1M 29 $20,823,921 $8,625,265 ($4,729,823)$2,192,613 $0 $0
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$1M and over 21 $154,453,715 $118,374,290 NR$27,425,483 $0 $0
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Total 527,132 $2,355,135,723 $1,385,944,345 ($8,721,307,700)$253,229,530 $0 $510,678
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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 34,920 ($121,054)$0 NR$426 $0 $12
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$0 under $10K 277,355 $4,519 $3 ($7,562)$97 $0 $0
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$10K under $20K 122,704 $13,539 $327 ($6,827)$339 $0 $0
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$20K under $30K 40,591 $24,400 $4,383 ($12,318)$726 $0 NR
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$30K under $40K 22,315 $34,478 $12,553 ($13,906)$1,337 $0 NR
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$40K under $50K 11,078 $44,637 $16,676 ($16,982)$1,668 $0 NR
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$50K under $60K 8,147 $54,718 $24,970 ($14,004)$2,541 $0 NR
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$60K under $75K 6,658 $66,502 $34,344 ($13,613)$3,650 $0 NR
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$75K under $100K 2,158 $84,122 $36,170 ($30,167)$3,847 $0 NR
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$100K under $200K 1,014 $126,116 $50,827 ($55,293)$6,229 $0 NR
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$200K under $500K 142 $282,539 $94,839 ($91,236)$21,028 $0 NR
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$500K under $1M 29 $718,066 $297,423 ($163,097)$75,607 $0 $0
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$1M and over 21 $7,354,939 $5,636,871 NR$1,305,975 $0 $0
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Average 527,132 $4,468 $2,629 ($16,545)$480 $0 $1
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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 Nontaxable returns are those reporting a zero value 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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