1099 Tax Estimator, Colorado
Free 1099 tax estimator for US freelancers and independent contractors. Calculate your self-employment tax (15.3%), federal income tax, and quarterly payment schedule based on your 1099 income and filing status. 2024 tax year rates.
Colorado has a flat 4.55% state income tax rate, applying uniformly to all individual income. Freelancers and 1099 contractors in Colorado have a straightforward state tax calculation alongside their federal obligations.
Colorado's flat rate is set in the state constitution, making it difficult to change. Quarterly estimated payments are filed using Colorado Form DR 0104EP.
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General calculator →Frequently Asked Questions, 1099 Tax Estimator in Colorado
How much should a Colorado 1099 contractor set aside for taxes?↓
Colorado freelancers should typically set aside 33–40% of net income. This covers federal self-employment tax (15.3%), federal income tax at your bracket, and Colorado's flat 4.55% state income tax. The constitutionally fixed flat rate provides predictability, there are no bracket surprises as your income grows.
Why is Colorado's income tax rate constitutionally fixed?↓
Colorado's Taxpayer's Bill of Rights (TABOR), passed in 1992, requires a flat income tax rate and restricts tax rate increases without voter approval. This means the 4.55% rate can only change via a statewide ballot measure. The rate was 4.63% for many years before voters approved a reduction to 4.55% (and temporarily lower in some years via TABOR refund mechanisms).
When are Colorado estimated tax payments due for self-employed workers?↓
Colorado estimated tax payments (Form DR 0104EP) are due on April 15, June 15, September 15, and January 15. You must make payments if you expect your Colorado tax liability to exceed $1,000 for the year. Payments can be made through Revenue Online at colorado.gov/tax.
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