Part 2: Calculating Colorado Income Tax

In general, Colorado imposes an income tax on the modified federal taxable income of each individual, whether they are a Colorado resident, a nonresident, or a part-year resident. In the case of part-year residents and nonresidents, the tax is apportioned as described in Department publication Income Tax Topics: Part-Year Residents & Nonresidents . This Part 2 provides information regarding the calculation of Colorado taxable income (also known as modified federal taxable income), the Colorado income tax rate, and alternative minimum tax.