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Depositing and Reporting Withheld Taxes: Colorado

Depositing and Reporting Withheld Taxes requirements for other states

Federal law and guidance on this subject should be reviewed together with this section.

Authors: Stuart R. Buttrick, Thomas W. Carroll, Susan W. Kline and Mary L. Will, Faegre Baker Daniels LLP


  • Colorado income tax withholding deposit thresholds and schedules are based on how much an employer withholds during the lookback period. See Deposit Thresholds and Schedules.
  • Certain employers are required to make deposits by electronic funds transfer (EFT). See Deposit Requirements.
  • Employers that do not deposit electronically must complete the appropriate form. See Forms.
  • Colorado employers must file an annual reconciliation report by January 31. See Annual Reconciliation Forms and Filing Deadlines.
  • Depending on the number of employees an employer has, Colorado employers must file either electronic or paper copies of Forms W-2, Wage and Tax Statement, with the state annually by January 31. See Form W-2 Reporting Requirements.
  • Penalties are imposed for failure to comply with the income tax depositing and filing requirements. See Penalties.