![]() Higher income earners may be required to pay the alternative minimum tax (AMT) in addition to the income tax.Ĭolorado individual income tax returns (Form 104 and any tax payment owed) for a calendar year are due to the Department of Revenue on or before the following April 15th unless an extension is granted. Estimated tax is used to pay the alternative minimum tax and self-employment tax. These payments are filed quarterly or annually depending on the type and source of income earned. Withheld taxes are submitted by employers to the Colorado Department of Revenue.Įstimated payments include income for self-employed individuals, as well as income from dividends, interest, capital gains, rent, and royalties. For wages and salaries, the amount withheld is determined using Colorado form DR 1098. Compensation for employment and earnings from certain other income sources (including pensions, bonuses, commissions, and gambling winnings) are withheld from the employee’s paycheck by his or her employer. ![]() Individuals and some businesses pay individual income taxes through withholding or through estimated payments. Source: Colorado Revised Statutes and Legislative Council Staff. ![]()
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