Colorado, and the Town of Parker, operate under a competitive tax structure that rewards investments and business innovation. Colorado has the 13th most business-friendly tax climate according to the Tax Foundation's 2008 State Business Tax Climate Index. Also, Colorado ranked 30th in state and local tax burden as a percentage of income in 2007 and 23rd lowest in total tax burden for state, local and federal taxes as a percentage of income.
Town sales tax must be collected on sales, leases and rentals of items in the Town, including items delivered into the Town. Sales made to another vendor for taxable resale are exempt when properly documented. Certain services such as telephone, linen services, gas and electric are also taxable. Professional Services such as accounting, advertising and legal are generally not taxable. For more information please visit Sales Tax Administration.
The Town of Parker has a 3% use tax on the storage, use or consumption of construction or building materials within the Town, construction equipment located within the Town and on motor and other vehicles registered to addresses located within the Town.
Anyone who performs construction work that requires a Parker building permit must pay Town use tax on the cost of construction material used, stored or consumed.
The Town's property tax mill levy is set at 2.602 mills and is used to support the general fund and operations of the Town.
- State Corporation Tax Rate: 4.63%
- State Individual Tax Rate: 4.63%