Payroll Colorado, Unique Aspects of Colorado Payroll Law and Practice

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Author: Charles J. Read

Article source: http://www.articlealley.com/. Used with author's permission.

The Colorado State Agency that oversees the collection and reporting of State income taxes deducted from payroll checks is:

Department of Revenue
State Capital Annex
1375 Sherman St.
Denver, CO 80261-0009
800-332-2087
www revenue.state.co.us/

Colorado allows you to use the Federal W-4 form to calculate state income tax withholding

Not all states allow salary reductions made under Section 125 cafeteria plans or 401(k) to be treated in the same manner as the IRS code allows. In Colorado cafeteria plans are: not taxable for income tax calculation; not taxable for unemployment insurance purposes. 401(k) plan deferrals are: not taxable for income taxes; taxable for unemployment purposes.

In Colorado supplemental wages are taxed at a 4.63% flat rate.

You must file your Colorado State W-2s by magnetic media if you are required to file your federal W-2s by magnetic media.

The Colorado State Unemployment Insurance Agency is:

Department of Labor & Employment