TABOR

Colorado Refund Checks Here Now

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colorado refund tabor line

Taxpayers in Colorado began receiving their 2022 Colorado refund checks in the mail this week. Several readers have reported getting theirs, and I got mine on Monday, so they are definitely coming. To qualify for a refund check from Colorado you had to be a full-time resident in 2021, and you had to be 18 by December 31, 2022. You also had to file your Colorado income taxes. Check out this in-depth look at Acorns investing. Colorado Tabor Refund Checks Politicians were fast to break their arms patting themselves on the backs for getting $750 to each Colorado taxpayer. It is a nice surprise, and the Democrats get credit for getting $750 to your mailbox in August 2022 instead of making you wait until early 2023 to get your refund when you file your Colorado income taxes. Republicans are quick to point out that Democrats have supported ending Tabor in the past, so they think they get credit. Check out Where Your Colorado Refund Check Comes From You like free money as much as the next guy, but you are an intelligent and curious srot, so you’d like to know exactly where this refund check money is coming from. That’s …

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Colorado Tax Refunds 2022

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colorado tax refund summer tab

This summer, Colorado sales tax refunds are coming via check to everyone who filed Colorado income taxes by June 30, 2022. If you filed after that, you might be out of luck, or some people will get their Colorado Tabor refund 2022 in early 2023. Update: The checks are in the mail! What Is This Colorado Summer Tax Refund? This is the Tabor tax refund that Colorado taxpayers normally get when they file their taxes. If you’re new to Colorado politics and government, taxpayers passed a law back in 1992 called the Taxpayer Bill of Rights, or TABOR. Among other things, it limits the amount of tax revenue the state can collect each year to an increase based upon inflation and population growth. If the state collects too much money, then it must refund the excess to taxpayers. This is often referred to as the TABOR surplus by politicians, and the TABOR refund by Coloradoans. How Colorado TABOR Refunds Usually Work The Colorado government runs on a fiscal year that runs from July to June, not a calendar year from January to December. Normally, when the fiscal year ends in June, the Colorado state government counts all of the tax …

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Colorado State Taxes and Finances

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Hey, guess what I found? It’s an economic document focused on Colorado! Whoop! Whoop! Finance Nerd Alert! The Colorado Legislature’s December 2018 Economic Forecast is out. There’s always plenty of good stuff in there for a finance geek to look at and see both how the Colorado economy is doing, and how the Colorado Legislature is managing it. I’ll dig in here in the next day or two, but here are some interesting tidbits so far. Marijuana Taxes Aren’t Everything Despite what the uninformed and misinformed might think, tax collections on marijuana just aren’t that big of a thing compared to the overall budget. If you thought pot taxes would solve all of the governments budgetary needs you were duped, or sorely mistaken. While December isn’t finished yet, it looks like Colorado’s pot tax revenue will come in at about $250 million. That is real money, but it isn’t difference making making. Colorado’s state budget is $29.9 BILLION. That means the $250 million from marijuana taxes doesn’t even make the budget figure unless you carry out more decimals. $250 million is just 0.08% of the State of Colorado’s overall budget. In other words, it’s a blip on the radar. It …

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