Taxes
Colorado ranks 48th among the 50 states in tax revenues compared to personal income. The State ranks 18th, with per capita state and local taxes averaging 5% lower than the national average.
Because of its extensive oil and gas activity, Weld County has been able to maintain a real estate property tax level that is significantly lower than the surrounding areas. This translates into a competitive advantage for businesses.
| Retail | Sales Tax |
|---|---|
| 2.9% | State of Colorado (excluding food) |
| None | Weld County |
| 3.3% | City of Greeley (including food) |
| 3-4% | Local Municipalities – varies |
State Corporate and Personal Income Tax
4.63% of Federal Taxable Income
Inventories, Goods in Transit and Intangibles
Not taxed in Colorado and there is no franchise tax
Property Taxes
Industrial/commercial property (buildings, land and equipment) is assessed at 29% of market value (based on a variety of factors). The state does not levy a property tax; however, counties throughout the state do. In Weld County there are 150 tax districts that overlap in a way that creates over 1,522 different tax areas and therefore mill levies which range from approximately 60.000 mills to 148.000 mills. The mill levy represents the dollars levied for each $1,000 of assessed value. For example, with a mill levy of 95.000 mills, the property owner would pay $95.00 for every $1,000 in assessed value.
State Unemployment Insurance
Unemployment insurance tax liability is based on the taxable wage base, which is the first $10,000 of each worker’s wage. If covered for the first time, the tax rate will be 1.7% of the wage base or a rate equal to the industry average, whichever is greater. Upon the 3rd and 4th years of coverage, the rate is changed to a computed rate based on the employer’s individual experience.