Colorado Net Pay Calculator
Use this calculator to estimate your take-home pay in Colorado after federal, state, and FICA taxes, as well as common deductions. This tool provides an estimate based on current tax laws and typical withholding methods.
Understanding Your Colorado Paycheck
Navigating your paycheck can be complex, especially with various federal and state deductions. This Colorado Wage Calculator helps you understand how your gross annual salary translates into your net take-home pay per period.
Federal Income Tax
Federal income tax is a progressive tax, meaning higher earners pay a larger percentage of their income in taxes. The amount withheld from your paycheck depends on your gross income, filing status (Single, Married Filing Jointly), and the number of dependents you claim. This calculator uses simplified 2024 federal tax brackets and standard deductions to estimate your federal tax liability.
FICA Taxes (Social Security & Medicare)
- Social Security: This tax funds retirement, disability, and survivor benefits. For 2024, the employee contribution rate is 6.2% on earnings up to the annual wage base limit of $168,600.
- Medicare: This tax funds health insurance for the elderly and disabled. The employee contribution rate is 1.45% on all earnings. An additional Medicare tax of 0.9% applies to wages exceeding $200,000 for single filers or $250,000 for married filing jointly.
Colorado State Income Tax
Colorado stands out with its flat income tax rate. For 2024, the state income tax rate is 4.40% of your taxable income. Colorado also allows a deduction for each dependent you claim, which reduces your taxable income for state purposes.
Colorado FAMLI (Family and Medical Leave Insurance)
Colorado's Family and Medical Leave Insurance (FAMLI) program provides paid leave benefits for qualifying life events. For 2024, the premium rate is 0.9% of your wages, with the employee typically contributing 0.45% (half of the total premium). This premium applies to wages up to the Social Security wage base limit ($168,600 for 2024).
Pre-Tax and Post-Tax Deductions
Many employees opt for deductions that further reduce their taxable income or contribute to savings.
- Pre-Tax Deductions: These are taken out of your gross pay before taxes are calculated, reducing your taxable income. Common examples include contributions to a 401(k) or 403(b) retirement plan, health insurance premiums, and Flexible Spending Account (FSA) contributions.
- Post-Tax Deductions: These are taken out after taxes have been calculated. Examples include Roth 401(k) contributions, union dues, or certain charitable contributions.
Disclaimer
This calculator provides an estimate for informational purposes only. Actual withholdings may vary based on specific payroll calculations, additional deductions, and changes in tax laws. Consult with a qualified financial advisor or tax professional for personalized advice.
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function calculateColoradoWage() {
var grossAnnualSalary = parseFloat(document.getElementById('grossAnnualSalary').value);
var payFrequency = parseFloat(document.getElementById('payFrequency').value);
var federalFilingStatus = document.getElementById('federalFilingStatus').value;
var federalDependents = parseInt(document.getElementById('federalDependents').value);
var coloradoDependents = parseInt(document.getElementById('coloradoDependents').value);
var preTaxDeductionsAnnual = parseFloat(document.getElementById('preTaxDeductionsAnnual').value);
var postTaxDeductionsAnnual = parseFloat(document.getElementById('postTaxDeductionsAnnual').value);
// Validate inputs
if (isNaN(grossAnnualSalary) || grossAnnualSalary < 0) grossAnnualSalary = 0;
if (isNaN(federalDependents) || federalDependents < 0) federalDependents = 0;
if (isNaN(coloradoDependents) || coloradoDependents < 0) coloradoDependents = 0;
if (isNaN(preTaxDeductionsAnnual) || preTaxDeductionsAnnual < 0) preTaxDeductionsAnnual = 0;
if (isNaN(postTaxDeductionsAnnual) || postTaxDeductionsAnnual ADDITIONAL_MEDICARE_THRESHOLD_SINGLE) {
additionalMedicareAnnual = (grossAnnualSalary – ADDITIONAL_MEDICARE_THRESHOLD_SINGLE) * ADDITIONAL_MEDICARE_RATE;
} else if (federalFilingStatus === "married" && grossAnnualSalary > ADDITIONAL_MEDICARE_THRESHOLD_MARRIED) {
additionalMedicareAnnual = (grossAnnualSalary – ADDITIONAL_MEDICARE_THRESHOLD_MARRIED) * ADDITIONAL_MEDICARE_RATE;
}
var ficaTaxesAnnual = socialSecurityAnnual + medicareAnnual + additionalMedicareAnnual;
// 3. Federal Income Tax
var standardDeduction = (federalFilingStatus === "single") ? FEDERAL_SD_SINGLE : FEDERAL_SD_MARRIED;
var federalTaxableIncome = Math.max(0, annualTaxableGrossFederal – standardDeduction);
var federalTaxAnnual = calculateFederalTax(federalTaxableIncome, federalFilingStatus);
// Apply simplified federal dependent credit
var federalDependentCredit = federalDependents * FEDERAL_CHILD_TAX_CREDIT_PER_DEPENDENT;
federalTaxAnnual = Math.max(0, federalTaxAnnual – federalDependentCredit);
// 4. Colorado State Income Tax
var coloradoTaxableIncome = Math.max(0, annualTaxableGrossColorado – (coloradoDependents * CO_DEPENDENT_DEDUCTION_PER_DEPENDENT));
var coloradoTaxAnnual = coloradoTaxableIncome * CO_FLAT_TAX_RATE;
coloradoTaxAnnual = Math.max(0, coloradoTaxAnnual); // Ensure tax isn't negative
// 5. Colorado FAMLI
var famliTaxableAnnual = Math.min(grossAnnualSalary, FAMLI_WAGE_BASE);
var coloradoFamliAnnual = famliTaxableAnnual * CO_FAMLI_RATE;
// Total Annual Deductions
var totalAnnualDeductions = ficaTaxesAnnual + federalTaxAnnual + coloradoTaxAnnual + coloradoFamliAnnual + postTaxDeductionsAnnual;
// Net Pay Calculation
var netAnnualPay = grossAnnualSalary – totalAnnualDeductions;
var netPayPerPeriod = netAnnualPay / payFrequency;
// Display Results
var resultDiv = document.getElementById('result');
resultDiv.innerHTML = `
Your Estimated Paycheck
Gross Pay Per Period:
$${grossPayPerPeriod.toFixed(2)}
Pre-Tax Deductions Per Period:
$${preTaxDeductionsPerPeriod.toFixed(2)}
Federal Income Tax Per Period:
$${(federalTaxAnnual / payFrequency).toFixed(2)}
Social Security Tax Per Period:
$${(socialSecurityAnnual / payFrequency).toFixed(2)}
Medicare Tax Per Period:
$${(medicareAnnual / payFrequency).toFixed(2)}
Additional Medicare Tax Per Period:
$${(additionalMedicareAnnual / payFrequency).toFixed(2)}
Colorado State Tax Per Period:
$${(coloradoTaxAnnual / payFrequency).toFixed(2)}
Colorado FAMLI Per Period:
$${(coloradoFamliAnnual / payFrequency).toFixed(2)}
Post-Tax Deductions Per Period:
$${postTaxDeductionsPerPeriod.toFixed(2)}
Total Deductions Per Period:
$${(totalAnnualDeductions / payFrequency).toFixed(2)}
Estimated Net Pay Per Period: $${netPayPerPeriod.toFixed(2)}
`;
}
// Helper function for Federal Tax Brackets (2024)
function calculateFederalTax(taxableIncome, filingStatus) {
var tax = 0;
if (taxableIncome <= 0) return 0;
if (filingStatus === "single") {
if (taxableIncome <= 11600) {
tax = taxableIncome * 0.10;
} else if (taxableIncome <= 47150) {
tax = 11600 * 0.10 + (taxableIncome – 11600) * 0.12;
} else if (taxableIncome <= 100525) {
tax = 11600 * 0.10 + (47150 – 11600) * 0.12 + (taxableIncome – 47150) * 0.22;
} else if (taxableIncome <= 191950) {
tax = 11600 * 0.10 + (47150 – 11600) * 0.12 + (100525 – 47150) * 0.22 + (taxableIncome – 100525) * 0.24;
} else if (taxableIncome <= 243725) {
tax = 11600 * 0.10 + (47150 – 11600) * 0.12 + (100525 – 47150) * 0.22 + (191950 – 100525) * 0.24 + (taxableIncome – 191950) * 0.32;
} else if (taxableIncome <= 609350) {
tax = 11600 * 0.10 + (47150 – 11600) * 0.12 + (100525 – 47150) * 0.22 + (191950 – 100525) * 0.24 + (243725 – 191950) * 0.32 + (taxableIncome – 243725) * 0.35;
} else {
tax = 11600 * 0.10 + (47150 – 11600) * 0.12 + (100525 – 47150) * 0.22 + (191950 – 100525) * 0.24 + (243725 – 191950) * 0.32 + (609350 – 243725) * 0.35 + (taxableIncome – 609350) * 0.37;
}
} else if (filingStatus === "married") { // Married Filing Jointly
if (taxableIncome <= 23200) {
tax = taxableIncome * 0.10;
} else if (taxableIncome <= 94300) {
tax = 23200 * 0.10 + (taxableIncome – 23200) * 0.12;
} else if (taxableIncome <= 201050) {
tax = 23200 * 0.10 + (94300 – 23200) * 0.12 + (taxableIncome – 94300) * 0.22;
} else if (taxableIncome <= 383900) {
tax = 23200 * 0.10 + (94300 – 23200) * 0.12 + (201050 – 94300) * 0.22 + (taxableIncome – 201050) * 0.24;
} else if (taxableIncome <= 487450) {
tax = 23200 * 0.10 + (94300 – 23200) * 0.12 + (201050 – 94300) * 0.22 + (383900 – 201050) * 0.24 + (taxableIncome – 383900) * 0.32;
} else if (taxableIncome <= 731200) {
tax = 23200 * 0.10 + (94300 – 23200) * 0.12 + (201050 – 94300) * 0.22 + (383900 – 201050) * 0.24 + (487450 – 383900) * 0.32 + (taxableIncome – 487450) * 0.35;
} else {
tax = 23200 * 0.10 + (94300 – 23200) * 0.12 + (201050 – 94300) * 0.22 + (383900 – 201050) * 0.24 + (487450 – 383900) * 0.32 + (731200 – 487450) * 0.35 + (taxableIncome – 731200) * 0.37;
}
}
return tax;
}
// Calculate on page load with default values
window.onload = calculateColoradoWage;