Colorado’s 2022 withholding formula and its new optional withholding certificate were released Nov. 16 by the state revenue department.
The steps of the formula that reduce the amount of taxable wages and take into account additional withholding were changed to accommodate the new withholding certificate, Form DR 0004, Colorado Employee Withholding Certificate.
In Step 2a of the formula, the standard amounts of $8,000 or $4,000 that depend on an employee’s federal filing status are replaced with the amount from Line 2 of Form DR 0004 if the employee filled out the form. In Step 2e, for additional state withholding, ...
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