Colorado Paycheck & Net Salary Calculator
Calculate your take-home pay after Federal, Colorado State, FICA, and FAMLI taxes.
Payroll Breakdown
| Gross Pay (Per Period) | 0.00 |
| Federal Income Tax | – 0.00 |
| Social Security (6.2%) | – 0.00 |
| Medicare (1.45%) | – 0.00 |
| Colorado State Tax (4.40%) | – 0.00 |
| Colorado FAMLI Tax (0.45%) | – 0.00 |
| Net Take-Home Pay | 0.00 |
How Your Colorado Paycheck is Calculated
Understanding your Colorado paycheck requires looking at both federal obligations and specific state-level mandates. Unlike many states with progressive tax brackets, Colorado utilizes a flat income tax system, which simplifies the calculation but requires careful attention to specific surcharges like the FAMLI program.
1. Federal Income Tax: This is calculated based on your annual taxable income after subtracting the standard deduction. For 2024, the standard deduction is $14,600 for single filers and $29,200 for those married filing jointly. Our calculator applies the marginal tax brackets (10% to 37%) to estimate your withholding.
2. FICA Taxes: These include Social Security and Medicare. Social Security is taxed at 6.2% on the first $168,600 of income. Medicare is taxed at 1.45% on all income, with an additional 0.9% for high earners (over $200,000).
3. Colorado State Income Tax: Colorado currently has a flat income tax rate of 4.40%. This applies to your Colorado taxable income, which generally aligns with your federal taxable income.
4. Colorado FAMLI Program: As of 2024, Colorado workers contribute to the Family and Medical Leave Insurance (FAMLI) program. The total premium is 0.9% of wages, but employees are typically only responsible for 0.45%, while the employer pays the other half. This applies to wages up to the Social Security wage base.
Example Calculation
If you earn a salary of $75,000 per year in Colorado, filing as Single:
- Gross Monthly: $6,250
- Estimated Federal Tax: ~$650
- FICA (SS + Medicare): ~$478
- CO State Tax (4.4%): ~$221
- CO FAMLI (0.45%): ~$28
- Estimated Monthly Net: ~$4,873
Pre-Tax Deductions
Contributions to 401(k) plans, Health Savings Accounts (HSA), or employer-sponsored health insurance premiums are "pre-tax." This means they are subtracted from your gross pay before taxes are calculated, effectively lowering your taxable income and the total amount of tax you owe.