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Colorado Department of Revenue
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2020 Corporate Statistics of Income
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Table 4. Corporations that Conduct Business Within and Outside of Colorado: Income and Tax Data by Size of Colorado Taxable Income
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This table shows aggregate income and tax data by Colorado taxable income group for C corporations that conduct business within and outside of Colorado. This table is a subset of the data presented in Table 1.
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I. Number of Returns and Aggregate Dollar Amounts
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Size of Colorado Taxable Income ¹ Number of Returns Federal Taxable Income ² Colorado Taxable Income ¹ Colorado Gross Tax ³ Colorado Net Tax
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Negative Income 10,146 ($373,762,160,347)($8,989,109,394)$0 $0
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$ 0 to $ 9,999 10,930 $79,576,986,661 $8,262,631 $371,944 $370,572
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$ 10,000 to $ 19,999 876 $1,919,624,436 $12,693,356 $572,292 $571,615
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$ 20,000 to $ 29,999 568 $2,044,739,245 $14,012,449 $627,675 $625,329
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$ 30,000 to $ 39,999 358 $2,068,181,989 $12,417,718 $558,273 $556,744
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$ 40,000 to $ 49,999 303 $8,470,014,474 $13,536,653 $608,798 $605,626
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$ 50,000 to $ 59,999 276 $1,848,988,638 $15,123,848 $681,640 $675,366
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$ 60,000 to $ 74,999 305 $2,581,141,936 $20,544,414 $917,912 $912,188
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$ 75,000 to $ 99,999 413 $4,391,276,025 $35,919,133 $1,609,672 $1,593,419
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$ 100,000 to $ 199,999 971 $27,276,231,416 $138,384,849 $6,267,607 $6,226,322
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$ 200,000 to $ 499,999 1,037 $29,229,492,147 $332,166,583 $15,112,506 $15,005,839
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$ 500,000 to $ 999,999 587 $33,264,499,601 $408,812,154 $18,599,401 $18,475,063
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$ 1,000,000 and over 1,386 $1,069,500,004,285 $15,477,403,863 $704,217,445 $658,371,768
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Total 28,156 $888,409,020,506 $7,500,168,257 $750,145,165 $703,989,851
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II. Number of Returns and Average Dollar Amounts per Return
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Size of Colorado Taxable Income ¹ Number of Returns Federal Taxable Income ² Colorado Taxable Income ¹ Colorado Gross Tax ³ Colorado Net Tax
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Negative Income 10,146 ($36,838,376)($885,976)$0 $0
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$ 0 to $ 9,999 10,930 $7,280,603 $756 $34 $34
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$ 10,000 to $ 19,999 876 $2,191,352 $14,490 $653 $653
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$ 20,000 to $ 29,999 568 $3,599,893 $24,670 $1,105 $1,101
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$ 30,000 to $ 39,999 358 $5,777,045 $34,686 $1,559 $1,555
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$ 40,000 to $ 49,999 303 $27,953,843 $44,675 $2,009 $1,999
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$ 50,000 to $ 59,999 276 $6,699,234 $54,797 $2,470 $2,447
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$ 60,000 to $ 74,999 305 $8,462,760 $67,359 $3,010 $2,991
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$ 75,000 to $ 99,999 413 $10,632,630 $86,971 $3,898 $3,858
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$ 100,000 to $ 199,999 971 $28,090,867 $142,518 $6,455 $6,412
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$ 200,000 to $ 499,999 1,037 $28,186,588 $320,315 $14,573 $14,470
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$ 500,000 to $ 999,999 587 $56,668,653 $696,443 $31,686 $31,474
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$ 1,000,000 and over 1,386 $771,645,025 $11,166,958 $508,093 $475,016
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Average 28,156 $31,553,098 $266,379 $26,642 $25,003
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Source: Colorado C corporation income tax returns
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¹ 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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² 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. When the FTI data is aggregated by size of Colorado Taxable Income, the values include positive and negative numbers.
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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: February 2023
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