A Tax Structure That Benefits Businesses
Monday, November 26, 2018
Colorado’s overall tax structure is vastly superior to both coasts and many places in between. Its business, individual and property tax rates are lower than most other states.
Colorado businesses pay a flat 4.63 percent corporate tax, while residents pay a flat 4.63 percent income tax. Colorado citizens pay an average of 13.82 percent less for taxes each year than the national average.
This significant tax savings benefits Colorado businesses and the employees who work for them. Companies choosing to locate in Parker, Colorado can take advantage of a range of valuable tax incentives that make Colorado a premier destination for business operations.
Discover the Tax Advantages of Locating in Parker, Colorado
In addition to benefiting from a favorable personal and corporate income tax structure, Colorado businesses may also qualify for tax breaks, incentives and programs.
The Town of Parker’s economic development team is available to assist existing and relocating businesses in identifying what tax incentives are available and how to best utilize them. Initial discussions can provide valuable insight into the many benefits of locating in Parker.
Available tax incentives may include:
Advanced Industry Tax Credit
This is a program which provides Colorado companies operating in seven advanced industries the opportunity to receive capital from investors. Learn more.
Businesses can earn tax credits for locating within an economically distressed areas designated in the Town of Parker.
Job Growth Incentive Tax Credit
The performance-based Job Growth Incentive Tax Credit provides a state income tax credit to businesses creating new jobs in Colorado.
Sales and Use Tax Refunds
Colorado provides industry-specific tax relief from the Colorado Sales and Use tax to promote economic development. Learn more.
Tax & Fee Assistance Program (TAP)
The purpose of the Tax and Fee Assistance Program is to encourage the recruitment or expansion of businesses and employers within the Town through a sales tax and/or fee share back
Transferable Tax Credit Program
This program allows companies that make major capital investments to transfer certain tax credits that are earned in the course of making that investment. Learn more.
We invite you to contact the economic development team to further explore the tax advantages of locating in Parker and to find out which incentives and programs could apply to your business.