Colorado businesses now face a top state income tax rate that has nearly doubled, the largest proportional increase in the corporate income tax rate in our state’s history.
Beginning in 2027, Amendment 87 will raise Colorado’s top income tax rate from 4.4% to 8.4%. While much of the campaign focused on its impact on individual high earners and their personal income taxes, an important piece of the measure was often overlooked: those same rates apply to businesses.
The final results were close; nearly half Colorado voters opposed the proposal, and the business community warned for months about the consequences it would have on jobs, long-term investment and competitiveness.
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Colorado Chamber of Commerce, Loren Furman — President & CEO
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