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Tuesday, September 24, 2024

Residents and visitors to Colorado paid $14.8 billion in taxes in 2018

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Colorado collected $14.8 billion in taxes in 2018, a 10.9 percent increase from the previous year, according to the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC).

Most tax revenue came from income taxes ($8.2 billion) and sales and gross receipts taxes ($5.7 billion).

The STC survey includes five broad tax categories and up to 25 subcategories. Data is gathered from all 50 state governments and all dependent state-level entities.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Below is a breakdown of how taxes were classified by the bureau and how much was collected.

2018 Colorado Tax Collections
Type of TaxAmount
Property taxes$0
Sales and gross receipts taxes$5,712,243,000
License taxes$816,832,000
Income taxes$8,170,466,000
Other taxes$102,722,000
General sales and gross receipts taxes$3,211,909,000
Selective sales and gross receipts taxes$2,500,334,000
Alcoholic beverages sales tax$46,989,000
Amusements sales tax$124,714,000
Insurance premiums sales tax$262,411,000
Motor fuels sales tax$675,962,000
Pari-mutuels sales tax$525,000
Public utilities sales tax$0
Tobacco products sales tax$193,881,000
Other selective sales and gross receipts taxes$1,195,852,000
Alcoholic beverages license$9,102,000
Amusements license$728,000
Corporations in general license$21,265,000
Hunting and fishing license$76,251,000
Motor vehicle license$597,097,000
Motor vehicle operators license$41,794,000
Public utilities license$13,742,000
Occupation and business license, nec$56,774,000
Other license taxes$79,000
Individual income taxes$7,510,366,000
Corporations net income taxes$660,100,000
Death and gift taxes$0
Documentary and stock transfer taxes$0
Severance taxes$102,722,000
Taxes, nec$0

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