Colorado generally tax the retirement income, but give certain exemptions. Taxpayers 55-64 years can take $20,000 exemption, and those 65 and older get $24000 exemption from state income taxes. Retirement Taxes
Colorado generally tax the retirement income, but give certain exemptions. Taxpayers 55-64 years can take $20,000 exemption, and those 65 and older get $24000 exemption from state income taxes.
State Tax Exemptions
$20,000/$24,000
$20,000/$24,000
Federal Pension: All out-of-state government pensions qualify for the pension exemption.
$20,000/$24,000
Military Pension: $20,000/$24,000
Social Security: Yes
Pension Age Restriction: Yes, The exemption amount will change if your retirement age is less than 65 years old.
Pension Income Restriction: No