Colorado residents won’t pay federal income taxes on refunds issued under the state Taxpayer Bill of Rights in the 2024 filing season, Gov. Jared Polis’ administration said Wednesday.
The state Department of Revenue said refunds disbursed to residents in 2023 won’t be considered taxable income for the 2024 filing season, and thus taxpayers won’t be required to include these refunds when filing their taxes before April 15.
The Taxpayer Bill of Rights, a constitutional amendment commonly known as TABOR, restricts the amount of revenue that governments in the state can retain and spend. When Colorado surpasses the TABOR limit, the ...
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