If you owe money to the state of Colorado, you can make your payment online or by mail. You can have your payment directly deposited with or separately from your Colorado Tax Refund. You can also opt for direct debit, credit card, or bank transfer. You should pay your taxes at least ten days before the due date to avoid late fees. Individual taxpayers can use the state’s free online Revenue Online service to file and pay their taxes. They can also make a tax payment while they’re filing their return electronically using a debit or credit card.
Colorado’s annual tax deadline is April 15. If that date falls on a weekend or holiday, the deadline moves to the next business day. However, residents who live outside of the state may have a filing obligation if they earn Colorado-sourced income.
Residents who are out-of-state college students are also likely to have a Colorado filing requirement, regardless of whether they vote in the state or have a driver’s license or ID card. Low-income taxpayers can get assistance with filing their returns at Low-Income Taxpayer Clinics (LITCs), which offer free or low-cost services to help people prepare and file their taxes. Individuals who owe money can file for an automatic six-month extension but must pay at least 90% of the amount they owe by April 15 to avoid late fees and interest.
How Colorado Businesses Pay Taxes?
Businesses based in Colorado have different rules regarding business tax filing. Corporations must file by the end of the fourth month following the close of their taxable year, which is typically April 15 for calendar-year corporations. S-Corporations can file by the close of their third month, and Fiduciary and estate returns are due by the last day of the fourth month following the close of the taxable year.
If you need help preparing your taxes, you can go to a statewide network of Volunteer Income Tax Assistance (VITA), Tax Counseling for the Elderly (TCE), or AARP Tax Aide sites. These centers offer free in-person assistance and electronic filing for people with lower incomes. If you can’t afford to pay your tax debt, you can also seek help from a Low-Income Taxpayer Clinic or attend a local or virtual Problem Solving Day.