diff --git a/changelog_entry.yaml b/changelog_entry.yaml index e69de29bb2d..7fc3c5f209a 100644 --- a/changelog_entry.yaml +++ b/changelog_entry.yaml @@ -0,0 +1,4 @@ +- bump: patch + changes: + changed: + - Update Colorado income tax parameters for tax year 2025. diff --git a/policyengine_us/parameters/gov/states/co/tax/income/additions/federal_deductions/agi_threshold.yaml b/policyengine_us/parameters/gov/states/co/tax/income/additions/federal_deductions/agi_threshold.yaml index cd31f568a27..f8a5db05162 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/additions/federal_deductions/agi_threshold.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/additions/federal_deductions/agi_threshold.yaml @@ -15,6 +15,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=9 - title: Individual Income Tax Guide - Part 3 Additions to Taxable Income - Federal itemized or standard deductions href: https://tax.colorado.gov/individual-income-tax-guide + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Additions Line 4 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=9 values: 2022-01-01: 400_000 2023-01-01: 300_000 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/additions/federal_deductions/exemption.yaml b/policyengine_us/parameters/gov/states/co/tax/income/additions/federal_deductions/exemption.yaml index 30dec388fbc..5d08f31df01 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/additions/federal_deductions/exemption.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/additions/federal_deductions/exemption.yaml @@ -15,6 +15,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=9 - title: Individual Income Tax Guide - Part 3 Additions to Taxable Income - Federal itemized or standard deductions href: https://tax.colorado.gov/individual-income-tax-guide + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Additions Line 4 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=9 breakdown: - filing_status JOINT: diff --git a/policyengine_us/parameters/gov/states/co/tax/income/additions/federal_deductions/itemized_only.yaml b/policyengine_us/parameters/gov/states/co/tax/income/additions/federal_deductions/itemized_only.yaml index cc73eae4acb..4bc007db0b3 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/additions/federal_deductions/itemized_only.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/additions/federal_deductions/itemized_only.yaml @@ -15,6 +15,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=9 - title: Individual Income Tax Guide - Part 3 Additions to Taxable Income - Federal itemized or standard deductions href: https://tax.colorado.gov/individual-income-tax-guide + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Additions Line 4 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=9 values: 2022-01-01: true 2023-01-01: false diff --git a/policyengine_us/parameters/gov/states/co/tax/income/additions/qualified_business_income_deduction/agi_threshold.yaml b/policyengine_us/parameters/gov/states/co/tax/income/additions/qualified_business_income_deduction/agi_threshold.yaml index 9a6d016ee89..c4563929573 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/additions/qualified_business_income_deduction/agi_threshold.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/additions/qualified_business_income_deduction/agi_threshold.yaml @@ -14,8 +14,10 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/Book0104_2023.pdf#page=5 - title: 2024 Colorado Individual Income Tax Filing Guide, 104 Book - Additions - Line 3 href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=9 - - title: Individual Income Tax Guide - Part 3 Additions to Taxable Income + - title: Individual Income Tax Guide - Part 3 Additions to Taxable Income href: https://tax.colorado.gov/individual-income-tax-guide + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Additions Line 3 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=9 breakdown: - filing_status diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/care_worker/amount/joint.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/care_worker/amount/joint.yaml index 0f3d29eec6f..7ac637f4965 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/care_worker/amount/joint.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/care_worker/amount/joint.yaml @@ -8,3 +8,5 @@ metadata: reference: - title: Colorado Revised Statutes Section 39-22-566 (3)(a) href: https://law.justia.com/codes/colorado/title-39/specific-taxes/income-tax/article-22/part-5/section-39-22-566/ + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 10 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=30 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/care_worker/amount/non_joint.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/care_worker/amount/non_joint.yaml index 6490a97263f..d61d4dfedd9 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/care_worker/amount/non_joint.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/care_worker/amount/non_joint.yaml @@ -8,3 +8,5 @@ metadata: reference: - title: Colorado Revised Statutes Section 39-22-566 (3)(a) href: https://law.justia.com/codes/colorado/title-39/specific-taxes/income-tax/article-22/part-5/section-39-22-566/ + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 10 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=30 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/care_worker/income_limit/joint.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/care_worker/income_limit/joint.yaml index 2320c0eef83..7a55cdf6dfd 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/care_worker/income_limit/joint.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/care_worker/income_limit/joint.yaml @@ -8,3 +8,5 @@ metadata: reference: - title: Colorado Revised Statutes Section 39-22-566 (3)(b)(I)(B) href: https://law.justia.com/codes/colorado/title-39/specific-taxes/income-tax/article-22/part-5/section-39-22-566/ + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 10 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=30 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/care_worker/income_limit/non_joint.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/care_worker/income_limit/non_joint.yaml index ad3af1c85d1..bf17d1f97c5 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/care_worker/income_limit/non_joint.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/care_worker/income_limit/non_joint.yaml @@ -8,3 +8,5 @@ metadata: reference: - title: Colorado Revised Statutes Section 39-22-566 (3)(b)(I)(A) href: https://law.justia.com/codes/colorado/title-39/specific-taxes/income-tax/article-22/part-5/section-39-22-566/ + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 10 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=30 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/cdcc/low_income/child_age_threshold.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/cdcc/low_income/child_age_threshold.yaml index 42dad449e66..ac1626a6bd1 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/cdcc/low_income/child_age_threshold.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/cdcc/low_income/child_age_threshold.yaml @@ -13,6 +13,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/Book0104_2023.pdf#page=48 - title: 2024 Colorado Individual Income Tax Filing Guide, 104 Book, page 67, Eligible, 4, b href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=67 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, page 67, Eligible, 4, b + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=67 unit: year period: year diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/cdcc/low_income/federal_agi_threshold.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/cdcc/low_income/federal_agi_threshold.yaml index 8111766e0b1..26a059ba7c6 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/cdcc/low_income/federal_agi_threshold.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/cdcc/low_income/federal_agi_threshold.yaml @@ -13,6 +13,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/Book0104_2023.pdf#page=48 - title: 2024 Colorado Individual Income Tax Filing Guide, 104 Book, Part IV href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=68 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Part IV + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=68 unit: currency-USD period: year diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/cdcc/low_income/max_amount.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/cdcc/low_income/max_amount.yaml index 38154369212..b462b35208e 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/cdcc/low_income/max_amount.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/cdcc/low_income/max_amount.yaml @@ -16,6 +16,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/Book0104_2023.pdf#page=50 - title: 2024 Colorado Individual Income Tax Filing Guide, 104 Book, Part IV Table A href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=70 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Part IV Table A + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=70 brackets: - threshold: 2018-01-01: 0 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/cdcc/low_income/rate.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/cdcc/low_income/rate.yaml index 012ed410af7..17b8b22eaf4 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/cdcc/low_income/rate.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/cdcc/low_income/rate.yaml @@ -14,5 +14,7 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/Book0104_2023.pdf#page=50 - title: 2024 Colorado Individual Income Tax Filing Guide, 104 Book, Part IV Line 10 href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=70 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Part IV Line 10 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=70 values: 2018-01-01: 0.25 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/cdcc/match.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/cdcc/match.yaml index 4b62c30fe00..50fec0e2c4c 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/cdcc/match.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/cdcc/match.yaml @@ -14,6 +14,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/Book0104_2023.pdf#page=50 - title: 2024 Colorado Individual Income Tax Filing Guide, 104 Book, Part III Line 7 href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=70 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Part III Line 7 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=70 brackets: - threshold: diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/age_threshold.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/age_threshold.yaml index 0f9b5246163..53debfda7bf 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/age_threshold.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/age_threshold.yaml @@ -21,4 +21,6 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104CN_2023.pdf#page=1 - title: 2024 Colorado Child Tax Credit Instructions, Section B href: https://tax.colorado.gov/sites/tax/files/documents/DR_0104CN_2024.pdf#page=2 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 1 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=26 # Colorado introduced the child tax credit in 2022. diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/amount/head_of_household.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/amount/head_of_household.yaml index 4c1ce14a5df..2c6fc838093 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/amount/head_of_household.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/amount/head_of_household.yaml @@ -10,6 +10,8 @@ metadata: href: https://leg.colorado.gov/sites/default/files/2023a_1112_signed.pdf#page=5 - title: 2024 Colorado Child Tax Credit Instructions, Section B href: https://tax.colorado.gov/sites/tax/files/documents/DR_0104CN_2024.pdf#page=2 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Section B + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=26 brackets: - threshold: 2024-01-01: -.inf diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/amount/joint.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/amount/joint.yaml index d9c38f2ddc6..79ddf288d6e 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/amount/joint.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/amount/joint.yaml @@ -10,6 +10,8 @@ metadata: href: https://leg.colorado.gov/sites/default/files/2023a_1112_signed.pdf#page=6 - title: 2024 Colorado Child Tax Credit Instructions, Section B href: https://tax.colorado.gov/sites/tax/files/documents/DR_0104CN_2024.pdf#page=2 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Section B + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=26 brackets: - threshold: 2024-01-01: -.inf diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/amount/separate.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/amount/separate.yaml index f48bd45a368..722fbaa4234 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/amount/separate.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/amount/separate.yaml @@ -10,6 +10,8 @@ metadata: href: https://leg.colorado.gov/sites/default/files/2023a_1112_signed.pdf#page=5 - title: 2024 Colorado Child Tax Credit Instructions, Section B href: https://tax.colorado.gov/sites/tax/files/documents/DR_0104CN_2024.pdf#page=2 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Section B + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=26 brackets: - threshold: 2024-01-01: -.inf diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/amount/single.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/amount/single.yaml index a40b7ac7273..5fa6ac473de 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/amount/single.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/amount/single.yaml @@ -10,6 +10,8 @@ metadata: href: https://leg.colorado.gov/sites/default/files/2023a_1112_signed.pdf#page=5 - title: 2024 Colorado Child Tax Credit Instructions, Section B href: https://tax.colorado.gov/sites/tax/files/documents/DR_0104CN_2024.pdf#page=2 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Section B + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=26 brackets: - threshold: 2024-01-01: -.inf diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/amount/surviving_spouse.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/amount/surviving_spouse.yaml index e9fda9b91cc..1d32f808f54 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/amount/surviving_spouse.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/amount/surviving_spouse.yaml @@ -10,6 +10,8 @@ metadata: href: https://leg.colorado.gov/sites/default/files/2023a_1112_signed.pdf#page=5 - title: 2024 Colorado Child Tax Credit Instructions, Section B href: https://tax.colorado.gov/sites/tax/files/documents/DR_0104CN_2024.pdf#page=2 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Section B + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=26 brackets: - threshold: 2024-01-01: -.inf diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/ctc_matched_federal_credit.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/ctc_matched_federal_credit.yaml index 91a2f2fa6a1..9a6e8face9a 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/ctc_matched_federal_credit.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/ctc_matched_federal_credit.yaml @@ -8,6 +8,8 @@ metadata: # in the 2022 tax forms - title: House Bill 23-1112, Section 2, (3.5) / (4) href: https://leg.colorado.gov/sites/default/files/2023a_1112_signed.pdf#page=5 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 1 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=26 values: 2022-01-01: true 2024-01-01: false diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/eligible_child.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/eligible_child.yaml index 45d015508e9..d341fdf1425 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/eligible_child.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/eligible_child.yaml @@ -11,3 +11,5 @@ metadata: reference: - title: House Bill 23-1112, Section 2, (1), (a) href: https://leg.colorado.gov/sites/default/files/2023a_1112_signed.pdf#page=4 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 1 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=26 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/rate/head_of_household.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/rate/head_of_household.yaml index 0b7c0a2b959..63c8f02ac7d 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/rate/head_of_household.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/rate/head_of_household.yaml @@ -18,6 +18,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104CN_2023.pdf#page=6 - title: 2021 Colorado Individual Income Tax Filing Guide href: https://tax.colorado.gov/sites/tax/files/documents/DR0104Book_2021_V3.pdf#page=15 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 1 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=26 # Colorado introduced the child tax credit in 2022. brackets: - threshold: diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/rate/joint.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/rate/joint.yaml index da1bb30d2e6..dc68ea7ac8d 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/rate/joint.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/rate/joint.yaml @@ -18,6 +18,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104CN_2023.pdf#page=6 - title: 2021 Colorado Individual Income Tax Filing Guide href: https://tax.colorado.gov/sites/tax/files/documents/DR0104Book_2021_V3.pdf#page=15 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 1 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=26 # Colorado introduced the child tax credit in 2022. brackets: - threshold: diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/rate/separate.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/rate/separate.yaml index d7e29c77fb9..138ba571b13 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/rate/separate.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/rate/separate.yaml @@ -18,6 +18,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104CN_2023.pdf#page=6 - title: 2021 Colorado Individual Income Tax Filing Guide href: https://tax.colorado.gov/sites/tax/files/documents/DR0104Book_2021_V3.pdf#page=15 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 1 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=26 # Colorado introduced the child tax credit in 2022. brackets: - threshold: diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/rate/single.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/rate/single.yaml index b840396788d..08d94ad1f43 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/rate/single.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/rate/single.yaml @@ -18,6 +18,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104CN_2023.pdf#page=6 - title: 2021 Colorado Individual Income Tax Filing Guide href: https://tax.colorado.gov/sites/tax/files/documents/DR0104Book_2021_V3.pdf#page=15 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 1 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=26 # Colorado introduced the child tax credit in 2022. brackets: - threshold: diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/rate/surviving_spouse.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/rate/surviving_spouse.yaml index ea5c0198a79..11e640bdb99 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/rate/surviving_spouse.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/ctc/rate/surviving_spouse.yaml @@ -18,6 +18,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104CN_2023.pdf#page=6 - title: 2021 Colorado Individual Income Tax Filing Guide href: https://tax.colorado.gov/sites/tax/files/documents/DR0104Book_2021_V3.pdf#page=15 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 1 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=26 # Colorado introduced the child tax credit in 2022. brackets: - threshold: diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/eitc/match.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/eitc/match.yaml index b864d8cf7a4..6b70ba33f4e 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/eitc/match.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/eitc/match.yaml @@ -8,13 +8,14 @@ values: # It also increases the amounts for 2025 and 2026 # regardless of state revenue. # It can rise higher depending on state revenue. - 2025-01-01: 0.35 + # 2025 is 50% per Book 104. + 2025-01-01: 0.5 2026-01-01: 0.25 2034-01-01: 0.10 metadata: period: year unit: /1 - label: Colorado EITC match + label: Colorado EITC match reference: - title: C.R.S. 39-22-123.5 href: https://advance.lexis.com/documentpage/?pdmfid=1000516&crid=ad7daeaa-b9cd-4f50-9c62-7bddb226d77c&nodeid=ABPAACAACAABAACABH&nodepath=%2FROOT%2FABP%2FABPAAC%2FABPAACAAC%2FABPAACAACAAB%2FABPAACAACAABAAC%2FABPAACAACAABAACABH&level=6&haschildren=&populated=false&title=39-22-123.5.+Earned+income+tax+credit+-+legislative+declaration+-+repeal.&config=014FJAAyNGJkY2Y4Zi1mNjgyLTRkN2YtYmE4OS03NTYzNzYzOTg0OGEKAFBvZENhdGFsb2d592qv2Kywlf8caKqYROP5&pddocfullpath=%2Fshared%2Fdocument%2Fstatutes-legislation%2Furn%3AcontentItem%3A6B7G-SG43-RTYH-3036-00008-00&ecomp=6gf59kk&prid=22d89c10-a7eb-48af-90ff-837a5559904e @@ -24,8 +25,10 @@ metadata: - title: HB24-1134 href: https://leg.colorado.gov/bills/hb24-1134 - title: 2022 Colorado Individual Income Tax Filing Guide, Line 5 - href: https://tax.colorado.gov/sites/tax/files/documents/DR_0104_Book_2022.pdf#page=16 + href: https://tax.colorado.gov/sites/tax/files/documents/DR_0104_Book_2022.pdf#page=16 - title: 2023 Colorado Individual Tax Filing Guide 104 Book, Line 5 href: https://tax.colorado.gov/sites/tax/files/documents/Book0104_2023.pdf#page=18 - title: 2024 Colorado Individual Tax Filing Guide 104 Book, Instructions for Select Credits from the DR 0104CR, Line 5 href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=25 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 5 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=25 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/family_affordability/age_multiplier.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/family_affordability/age_multiplier.yaml index 91ddce77165..aa1109c1a45 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/family_affordability/age_multiplier.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/family_affordability/age_multiplier.yaml @@ -10,6 +10,8 @@ metadata: href: https://leg.colorado.gov/bills/hb24-1311 - title: 2024 Colorado Child Tax Credit Instructions, Section C href: https://tax.colorado.gov/sites/tax/files/documents/DR_0104CN_2024.pdf#page=3 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Section C + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=27 brackets: - threshold: 2024-01-01: 0 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/family_affordability/amount.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/family_affordability/amount.yaml index 9209f673da9..3cbc6bc33a7 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/family_affordability/amount.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/family_affordability/amount.yaml @@ -1,6 +1,7 @@ description: Colorado provides this family affordability tax credit base amount for each younger child. values: 2024-01-01: 3_200 + 2025-01-01: 3_273 metadata: period: year unit: currency-USD @@ -10,3 +11,5 @@ metadata: href: https://leg.colorado.gov/bills/hb24-1311 - title: 2024 Colorado Child Tax Credit Instructions, Section C href: https://tax.colorado.gov/sites/tax/files/documents/DR_0104CN_2024.pdf#page=3 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Section C + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=27 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/family_affordability/reduction/increment.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/family_affordability/reduction/increment.yaml index c44c1a509ca..e3bba3460c8 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/family_affordability/reduction/increment.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/family_affordability/reduction/increment.yaml @@ -13,6 +13,8 @@ metadata: href: https://leg.colorado.gov/bills/hb24-1311 - title: 2024 Colorado Child Tax Credit Instructions, Section C href: https://tax.colorado.gov/sites/tax/files/documents/DR_0104CN_2024.pdf#page=3 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Section C + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=27 values: diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/family_affordability/reduction/rate.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/family_affordability/reduction/rate.yaml index 61c63105797..3d019029ca2 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/family_affordability/reduction/rate.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/family_affordability/reduction/rate.yaml @@ -7,6 +7,8 @@ metadata: - title: Colorado General Assembly House Bill 24-1311 Family Affordability Tax Credit href: https://leg.colorado.gov/bills/hb24-1311 - title: 2024 Colorado Child Tax Credit Instructions, Section C - href: https://tax.colorado.gov/sites/tax/files/documents/DR_0104CN_2024.pdf#page=3 + href: https://tax.colorado.gov/sites/tax/files/documents/DR_0104CN_2024.pdf#page=3 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Section C + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=27 values: 2024-01-01: 0.06875 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/family_affordability/reduction/threshold.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/family_affordability/reduction/threshold.yaml index 9c98dccbbca..0abef0fdc56 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/family_affordability/reduction/threshold.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/family_affordability/reduction/threshold.yaml @@ -10,6 +10,8 @@ metadata: href: https://leg.colorado.gov/bills/hb24-1311 - title: 2024 Colorado Child Tax Credit Instructions, Section C href: https://tax.colorado.gov/sites/tax/files/documents/DR_0104CN_2024.pdf#page=3 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Section C + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=27 SINGLE: values: 2024-01-01: 15_000 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/age_limit.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/age_limit.yaml index 1aff35eda73..2f40e2ff4d7 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/age_limit.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/age_limit.yaml @@ -12,5 +12,7 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=28 - title: 39-22-544 - Credit against tax - qualifying seniors (4) (a) href: https://casetext.com/statute/colorado-revised-statutes/title-39-taxation/specific-taxes/income-tax/article-22-income-tax/part-5-special-rules/section-39-22-544-credit-against-tax-qualifying-seniors-creation-legislative-declaration-definitions + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 6 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=28 # Program only in effect for tax years 2022 and 2024 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/income_threshold.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/income_threshold.yaml index 089183014d3..b2517e3d526 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/income_threshold.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/income_threshold.yaml @@ -11,6 +11,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=28 - title: 39-22-544 - Credit against tax - qualifying seniors (4) (a) href: https://casetext.com/statute/colorado-revised-statutes/title-39-taxation/specific-taxes/income-tax/article-22-income-tax/part-5-special-rules/section-39-22-544-credit-against-tax-qualifying-seniors-creation-legislative-declaration-definitions + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 6 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=28 values: 2022-01-01: 75_000 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/reduction/amount.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/reduction/amount.yaml index 8b2eab11fe9..c5a43047bad 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/reduction/amount.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/reduction/amount.yaml @@ -12,6 +12,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=28 - title: C.R.S. 39-22-544 (4) href: https://advance.lexis.com/documentpage/?pdmfid=1000516&crid=36044aec-3814-40aa-973a-a3c829f9fd0b&action=pawlinkdoc&pdcomponentid=&pddocfullpath=%2fshared%2fdocument%2fstatutes-legislation%2furn%3acontentItem%3a6633-05N3-GXF6-81C6-00008-00&pdtocnodeidentifier=ABPAACAACAABAAGACL&config=014FJAAyNGJkY2Y4Zi1mNjgyLTRkN2YtYmE4OS03NTYzNzYzOTg0OGEKAFBvZENhdGFsb2d592qv2Kywlf8caKqYROP5&ecomp=k2vckkk&prid=0823b89b-e2f2-4942-affb-ba0d59f746b8 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 6 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=28 breakdown: - filing_status diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/reduction/increment.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/reduction/increment.yaml index 2fbd8dd4dcd..5f1809e5d8f 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/reduction/increment.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/reduction/increment.yaml @@ -12,6 +12,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=28 - title: C.R.S. 39-22-544 (4) href: https://advance.lexis.com/documentpage/?pdmfid=1000516&crid=36044aec-3814-40aa-973a-a3c829f9fd0b&action=pawlinkdoc&pdcomponentid=&pddocfullpath=%2fshared%2fdocument%2fstatutes-legislation%2furn%3acontentItem%3a6633-05N3-GXF6-81C6-00008-00&pdtocnodeidentifier=ABPAACAACAABAAGACL&config=014FJAAyNGJkY2Y4Zi1mNjgyLTRkN2YtYmE4OS03NTYzNzYzOTg0OGEKAFBvZENhdGFsb2d592qv2Kywlf8caKqYROP5&ecomp=k2vckkk&prid=0823b89b-e2f2-4942-affb-ba0d59f746b8 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 6 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=28 values: 2022-01-01: 500 2023-01-01: 0 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/reduction/max_amount.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/reduction/max_amount.yaml index f0c2763590f..e2410960f15 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/reduction/max_amount.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/reduction/max_amount.yaml @@ -14,7 +14,9 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=28 - title: C.R.S. 39-22-544 (4) href: https://advance.lexis.com/documentpage/?pdmfid=1000516&crid=36044aec-3814-40aa-973a-a3c829f9fd0b&action=pawlinkdoc&pdcomponentid=&pddocfullpath=%2fshared%2fdocument%2fstatutes-legislation%2furn%3acontentItem%3a6633-05N3-GXF6-81C6-00008-00&pdtocnodeidentifier=ABPAACAACAABAAGACL&config=014FJAAyNGJkY2Y4Zi1mNjgyLTRkN2YtYmE4OS03NTYzNzYzOTg0OGEKAFBvZENhdGFsb2d592qv2Kywlf8caKqYROP5&ecomp=k2vckkk&prid=0823b89b-e2f2-4942-affb-ba0d59f746b8 - + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 6 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=28 + SINGLE: 2022-01-01: 1_000 2023-01-01: 0 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/reduction/start.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/reduction/start.yaml index 963b3196805..a9e03d81cd1 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/reduction/start.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/income_qualified_senior_housing/reduction/start.yaml @@ -12,6 +12,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=28 - title: C.R.S. 39-22-544 (4) href: https://advance.lexis.com/documentpage/?pdmfid=1000516&crid=36044aec-3814-40aa-973a-a3c829f9fd0b&action=pawlinkdoc&pdcomponentid=&pddocfullpath=%2fshared%2fdocument%2fstatutes-legislation%2furn%3acontentItem%3a6633-05N3-GXF6-81C6-00008-00&pdtocnodeidentifier=ABPAACAACAABAAGACL&config=014FJAAyNGJkY2Y4Zi1mNjgyLTRkN2YtYmE4OS03NTYzNzYzOTg0OGEKAFBvZENhdGFsb2d592qv2Kywlf8caKqYROP5&ecomp=k2vckkk&prid=0823b89b-e2f2-4942-affb-ba0d59f746b8 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 6 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=28 values: 2022-01-01: 25_499 2023-01-01: 0 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/refundable.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/refundable.yaml index e634c19c1ce..aceb5ac640f 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/refundable.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/refundable.yaml @@ -12,6 +12,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/Book0104_2023.pdf#page=18 - title: 2024 Colorado Individual Income Tax Filing Guide, 104 Book href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=25 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=25 values: diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/age_threshold.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/age_threshold.yaml index 8deef7c6723..7ff8b12a3b4 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/age_threshold.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/age_threshold.yaml @@ -15,3 +15,5 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR_0104_Book_2022.pdf#page=23 - title: 2024 Colorado State Sales Tax Refund href: https://tax.colorado.gov/income-tax-topics-state-sales-tax-refund + - title: 2025 Colorado Individual Tax Filing Guide 104 Book + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=23 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/amount/amount.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/amount/amount.yaml index ed0ce57b613..64766f4e35a 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/amount/amount.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/amount/amount.yaml @@ -11,3 +11,5 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/Book0104_2023.pdf#page=9 - title: Colorado General Assembly HB23-1311 Identical Temporary TABOR Refund href: https://leg.colorado.gov/bills/hb23-1311#:~:text=The%20act%20creates%20a%20new,2022%2D23%20state%20fiscal%20year + - title: 2025 Colorado Individual Tax Filing Guide 104 Book + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=23 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/amount/flat_amount_enabled.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/amount/flat_amount_enabled.yaml index 440eabd19e2..b9765368587 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/amount/flat_amount_enabled.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/amount/flat_amount_enabled.yaml @@ -3,6 +3,7 @@ values: 2021-01-01: false 2023-01-01: true 2024-01-01: false + 2025-01-01: false metadata: period: year unit: bool @@ -16,3 +17,5 @@ metadata: href: https://tax.colorado.gov/income-tax-topics-state-sales-tax-refund - title: Colorado General Assembly HB23-1311 Identical Temporary TABOR Refund href: https://leg.colorado.gov/bills/hb23-1311#:~:text=The%20act%20creates%20a%20new,2022%2D23%20state%20fiscal%20year + - title: 2025 Colorado Individual Tax Filing Guide 104 Book + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=23 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/amount/multiplier.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/amount/multiplier.yaml index c61a3500c54..a4d81cf0f50 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/amount/multiplier.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/amount/multiplier.yaml @@ -12,6 +12,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR_0104_Book_2022.pdf#page=23 - title: 2024 Colorado State Sales Tax Refund href: https://tax.colorado.gov/income-tax-topics-state-sales-tax-refund + - title: 2025 Colorado Individual Tax Filing Guide 104 Book + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=23 breakdown: - filing_status diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/amount/scale.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/amount/scale.yaml index 64aca01edb9..acc37723d98 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/amount/scale.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/amount/scale.yaml @@ -19,6 +19,8 @@ metadata: href: https://leg.colorado.gov/bills/hb23-1311#:~:text=The%20act%20creates%20a%20new,2022%2D23%20state%20fiscal%20year - title: 2024 Colorado State Sales Tax Refund href: https://tax.colorado.gov/income-tax-topics-state-sales-tax-refund + - title: 2025 Colorado Individual Tax Filing Guide 104 Book + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=23 brackets: - threshold: 2021-01-01: -.inf @@ -27,15 +29,18 @@ brackets: 2022-01-01: 153 2023-01-01: 0 2024-01-01: 177 + 2025-01-01: 19 - threshold: 2021-01-01: 44_001 2022-01-01: 48_001 2024-01-01: 53_001 + 2025-01-01: 52_001 amount: 2021-01-01: 49 2022-01-01: 208 2023-01-01: 0 2024-01-01: 240 + 2025-01-01: 25 - threshold: 2021-01-01: 88_001 2022-01-01: 95_001 @@ -45,15 +50,18 @@ brackets: 2022-01-01: 234 2023-01-01: 0 2024-01-01: 277 + 2025-01-01: 29 - threshold: 2021-01-01: 139_001 2022-01-01: 151_001 2024-01-01: 166_001 + 2025-01-01: 168_001 amount: 2021-01-01: 68 2022-01-01: 285 2023-01-01: 0 2024-01-01: 323 + 2025-01-01: 35 - threshold: 2021-01-01: 193_001 2022-01-01: 209_001 @@ -63,13 +71,16 @@ brackets: 2022-01-01: 300 2023-01-01: 0 2024-01-01: 350 + 2025-01-01: 37 - threshold: 2021-01-01: 246_001 2022-01-01: 268_001 2024-01-01: 302_001 + 2025-01-01: 299_001 amount: 2021-01-01: 117 2022-01-01: 486 2023-01-01: 0 2024-01-01: 565 + 2025-01-01: 59 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/magi_sources.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/magi_sources.yaml index 68631ff6a42..efc87ad9c68 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/magi_sources.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/sales_tax_refund/magi_sources.yaml @@ -17,3 +17,5 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR_0104_Book_2022.pdf#page=23 - title: 2024 Colorado State Sales Tax Refund href: https://tax.colorado.gov/income-tax-topics-state-sales-tax-refund + - title: 2025 Colorado Individual Tax Filing Guide 104 Book + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=23 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/tabor/joint.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/tabor/joint.yaml index d77a133c90e..dd22945863b 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/tabor/joint.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/tabor/joint.yaml @@ -10,3 +10,5 @@ metadata: # The house bill initially appropriated a $800 rebate which was increased to $1,500 due to sufficient funds # https://www.colorado.gov/governor/news/providing-immediate-relief-governor-polis-state-leaders-announce-millions-colorado-cash-back href: https://leg.colorado.gov/sites/default/files/documents/2022A/bills/2022a_233_01.pdf + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 4 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=24 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/credits/tabor/single.yaml b/policyengine_us/parameters/gov/states/co/tax/income/credits/tabor/single.yaml index b0369b55a23..1b70f8e4ffb 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/credits/tabor/single.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/credits/tabor/single.yaml @@ -10,3 +10,5 @@ metadata: # The house bill initially appropriated a $400 rebate which was increased to $750 due to sufficient funds # https://www.colorado.gov/governor/news/providing-immediate-relief-governor-polis-state-leaders-announce-millions-colorado-cash-back href: https://leg.colorado.gov/sites/default/files/documents/2022A/bills/2022a_233_01.pdf + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 4 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=24 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/rate.yaml b/policyengine_us/parameters/gov/states/co/tax/income/rate.yaml index cf0a100161a..af43d893ad8 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/rate.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/rate.yaml @@ -21,6 +21,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=11 - title: TABOR Refund Mechanisms Legislation 2024-2034 href: https://leg.colorado.gov/bills/SB24-228 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Line 12 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=11 values: 1987-01-01: 0.05 # form rate determined by Legislation diff --git a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/able_contribution/cap.yaml b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/able_contribution/cap.yaml index 581b63731a5..4b510d05bf9 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/able_contribution/cap.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/able_contribution/cap.yaml @@ -12,6 +12,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=21 - title: C.R.S. 39-22-104(4)(i)(II)(B) href: https://law.justia.com/codes/colorado/2022/title-39/article-22/part-1/section-39-22-104/ + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Subtractions Line 11 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=21 JOINT: 2023-01-01: 31_000 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/charitable_contribution/adjustment.yaml b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/charitable_contribution/adjustment.yaml index 26ebbef6bf9..57fd5cfb0d8 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/charitable_contribution/adjustment.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/charitable_contribution/adjustment.yaml @@ -17,3 +17,5 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/Book0104_2023.pdf#page=14 - title: 2024 Colorado Individual Tax Filing Guide 104 Book - Subtractions Line 12 href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=21 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Subtractions Line 12 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=21 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/collegeinvest_contribution/max_amount.yaml b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/collegeinvest_contribution/max_amount.yaml index 3c282a6469e..e586d95dce2 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/collegeinvest_contribution/max_amount.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/collegeinvest_contribution/max_amount.yaml @@ -18,6 +18,8 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/Book0104_2023.pdf#page=13 - title: 2024 Colorado Individual Tax Filing Guide 104 Book - Subtractions Line 10 href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=20 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Subtractions Line 10 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=20 HEAD_OF_HOUSEHOLD: 2021-01-01: .inf diff --git a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/military_retirement/age_threshold.yaml b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/military_retirement/age_threshold.yaml index 2cc8f9c39c2..ecbb19e97e2 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/military_retirement/age_threshold.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/military_retirement/age_threshold.yaml @@ -17,3 +17,5 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/Book0104_2023.pdf#page=12 - title: 2024 Colorado Individual Tax Filing Guide 104 Book - Subtractions Line 7 href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=19 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Subtractions Line 7 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=19 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/military_retirement/max_amount.yaml b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/military_retirement/max_amount.yaml index e398e6fea9a..5746c4ab00f 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/military_retirement/max_amount.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/military_retirement/max_amount.yaml @@ -20,3 +20,5 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/Book0104_2023.pdf#page=12 - title: 2024 Colorado Individual Tax Filing Guide 104 Book - Subtractions Line 7 href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=19 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Subtractions Line 7 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=19 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/age_threshold/older.yaml b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/age_threshold/older.yaml index 2aba4feb4c5..873b33f2ba8 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/age_threshold/older.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/age_threshold/older.yaml @@ -17,3 +17,5 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=18 - title: C.R.S. 39-22-104(4)(g)(III)(B) href: https://law.justia.com/codes/colorado/2022/title-39/article-22/part-1/section-39-22-104/ + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Subtractions Line 4 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=18 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/age_threshold/younger.yaml b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/age_threshold/younger.yaml index 4d3e913de5e..ac367ff6eaa 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/age_threshold/younger.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/age_threshold/younger.yaml @@ -17,3 +17,5 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=18 - title: C.R.S. 39-22-104(4)(g)(I) href: https://law.justia.com/codes/colorado/2022/title-39/article-22/part-1/section-39-22-104/ + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Subtractions Line 4 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=18 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/cap/older.yaml b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/cap/older.yaml index 8c896fe37b7..6fa0d0a7c5c 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/cap/older.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/cap/older.yaml @@ -17,3 +17,5 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=18 - title: C.R.S. 39-22-104(4)(g)(III)(B) href: https://law.justia.com/codes/colorado/2022/title-39/article-22/part-1/section-39-22-104/ + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Subtractions Line 4 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=18 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/cap/younger.yaml b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/cap/younger.yaml index 9143c008b75..af427dff242 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/cap/younger.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/cap/younger.yaml @@ -17,3 +17,5 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=18 - title: C.R.S. 39-22-104(4)(g)(III)(A) href: https://law.justia.com/codes/colorado/2022/title-39/article-22/part-1/section-39-22-104/ + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Subtractions Line 4 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=18 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/income_sources.yaml b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/income_sources.yaml index a48233d2ca1..638f1aac584 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/income_sources.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/income_sources.yaml @@ -23,3 +23,5 @@ metadata: href: https://tax.colorado.gov/sites/tax/files/documents/DR0104AD_2023.pdf#page=1 - title: Government of Colorado - Income Tax Topics, Social Security, Pensions, and Annuities href: https://tax.colorado.gov/sites/tax/files/documents/ITT_Social_Security_Pensions_and_Annuities_Feb_2023.pdf#page=2 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Subtractions Line 4 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=18 diff --git a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/social_security_subtraction_available.yaml b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/social_security_subtraction_available.yaml index e673f430516..47f44ffc95d 100644 --- a/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/social_security_subtraction_available.yaml +++ b/policyengine_us/parameters/gov/states/co/tax/income/subtractions/pension/social_security_subtraction_available.yaml @@ -13,3 +13,5 @@ metadata: href: https://law.justia.com/codes/colorado/2021/title-39/article-22/part-1/section-39-22-104/ - title: 2024 Colorado Individual Tax Filing Guide 104 Book - Subtractions Line 3 href: https://tax.colorado.gov/sites/tax/files/documents/DR0104_book_2024.pdf#page=18 + - title: 2025 Colorado Individual Tax Filing Guide 104 Book, Subtractions Line 3 + href: https://tax.colorado.gov/sites/tax/files/documents/Book104_2025.pdf#page=18 diff --git a/policyengine_us/tests/policy/baseline/gov/states/co/tax/income/credits/eitc/co_eitc.yaml b/policyengine_us/tests/policy/baseline/gov/states/co/tax/income/credits/eitc/co_eitc.yaml index 0aee79a08bc..14476fc8548 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/co/tax/income/credits/eitc/co_eitc.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/co/tax/income/credits/eitc/co_eitc.yaml @@ -37,3 +37,40 @@ state_code: CO output: co_eitc: 0 + +# 2025 Tests - EITC match rate confirmed at 50% per Tax Policy Updates April 2025 +- name: Colorado matches 50% of EITC in 2025. + period: 2025 + input: + eitc: 100 + state_code: CO + output: + # 50% match rate per HB24-1134 with economic growth trigger met + co_eitc: 50 + +- name: Colorado EITC 2025 - realistic earned income scenario + period: 2025 + input: + people: + person1: + age: 35 + employment_income: 20_000 + is_tax_unit_head: true + child1: + age: 5 + is_tax_unit_dependent: true + tax_units: + tax_unit: + members: [person1, child1] + filing_status: HEAD_OF_HOUSEHOLD + spm_units: + spm_unit: + members: [person1, child1] + households: + household: + members: [person1, child1] + state_code: CO + output: + # Federal EITC for 1 child at $20k income (head of household) is approximately $4,328 + # CO EITC = 50% * federal EITC = $2,164 + co_eitc: 2_164 diff --git a/policyengine_us/tests/policy/baseline/gov/states/co/tax/income/credits/sales_tax_refund/co_sales_tax_refund.yaml b/policyengine_us/tests/policy/baseline/gov/states/co/tax/income/credits/sales_tax_refund/co_sales_tax_refund.yaml index 6bd01b1a159..7ca1d347038 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/co/tax/income/credits/sales_tax_refund/co_sales_tax_refund.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/co/tax/income/credits/sales_tax_refund/co_sales_tax_refund.yaml @@ -68,3 +68,121 @@ filing_status: JOINT output: co_sales_tax_refund: 1_600 + +# 2025 Tests - Sales Tax Refund brackets per Income Tax Topics: State Sales Tax Refund +# Single filer brackets for 2025: +# $0-$52,000 -> $19 +# $52,001-$105,000 -> $25 +# $105,001-$168,000 -> $29 +# $168,001-$233,000 -> $35 +# $233,001-$299,000 -> $37 +# $299,001+ -> $59 + +- name: 2025 Single - lowest bracket ($0-$52,000) + period: 2025 + input: + co_modified_agi: 30_000 + co_sales_tax_refund_eligible: true + filing_status: SINGLE + output: + # AGI $30,000 falls in first bracket: $19 + co_sales_tax_refund: 19 + +- name: 2025 Single - at first threshold boundary + period: 2025 + input: + co_modified_agi: 52_000 + co_sales_tax_refund_eligible: true + filing_status: SINGLE + output: + # AGI exactly $52,000 -> still in first bracket: $19 + co_sales_tax_refund: 19 + +- name: 2025 Single - second bracket ($52,001-$105,000) + period: 2025 + input: + co_modified_agi: 75_000 + co_sales_tax_refund_eligible: true + filing_status: SINGLE + output: + # AGI $75,000 falls in second bracket: $25 + co_sales_tax_refund: 25 + +- name: 2025 Single - third bracket ($105,001-$168,000) + period: 2025 + input: + co_modified_agi: 130_000 + co_sales_tax_refund_eligible: true + filing_status: SINGLE + output: + # AGI $130,000 falls in third bracket: $29 + co_sales_tax_refund: 29 + +- name: 2025 Single - fourth bracket ($168,001-$233,000) + period: 2025 + input: + co_modified_agi: 200_000 + co_sales_tax_refund_eligible: true + filing_status: SINGLE + output: + # AGI $200,000 falls in fourth bracket: $35 + co_sales_tax_refund: 35 + +- name: 2025 Single - fifth bracket ($233,001-$299,000) + period: 2025 + input: + co_modified_agi: 260_000 + co_sales_tax_refund_eligible: true + filing_status: SINGLE + output: + # AGI $260,000 falls in fifth bracket: $37 + co_sales_tax_refund: 37 + +- name: 2025 Single - highest bracket ($299,001+) + period: 2025 + input: + co_modified_agi: 400_000 + co_sales_tax_refund_eligible: true + filing_status: SINGLE + output: + # AGI $400,000 falls in highest bracket: $59 + co_sales_tax_refund: 59 + +- name: 2025 Joint - lowest bracket (double single amount) + period: 2025 + input: + co_modified_agi: 40_000 + co_sales_tax_refund_eligible: true + filing_status: JOINT + output: + # AGI $40,000 in first bracket: $19 * 2 = $38 + co_sales_tax_refund: 38 + +- name: 2025 Joint - second bracket + period: 2025 + input: + co_modified_agi: 80_000 + co_sales_tax_refund_eligible: true + filing_status: JOINT + output: + # AGI $80,000 in second bracket: $25 * 2 = $50 + co_sales_tax_refund: 50 + +- name: 2025 Joint - highest bracket + period: 2025 + input: + co_modified_agi: 500_000 + co_sales_tax_refund_eligible: true + filing_status: JOINT + output: + # AGI $500,000 in highest bracket: $59 * 2 = $118 + co_sales_tax_refund: 118 + +- name: 2025 Ineligible - no refund regardless of income + period: 2025 + input: + co_modified_agi: 50_000 + co_sales_tax_refund_eligible: false + filing_status: SINGLE + output: + co_sales_tax_refund: 0 diff --git a/policyengine_us/tests/policy/baseline/gov/states/co/tax/income/integration.yaml b/policyengine_us/tests/policy/baseline/gov/states/co/tax/income/integration.yaml index 32dc605f2ab..e9937fda756 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/co/tax/income/integration.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/co/tax/income/integration.yaml @@ -69,3 +69,271 @@ output: co_sales_tax_refund: 177 co_income_tax: -977 + +# 2025 Integration Tests +# Key 2025 parameters: +# - Income tax rate: 4.4% +# - EITC match: 50% of federal EITC +# - Sales tax refund: Bracket-based (see co_sales_tax_refund.yaml) +# - CTC max: $1,200 for ages 0-5 +# - Family Affordability Credit: $3,273 (ages 0-5), $2,455 (ages 6-16) + +- name: 2025 Single filer with employment income - basic tax calculation + absolute_error_margin: 1 + period: 2025 + input: + people: + person1: + age: 35 + employment_income: 60_000 + is_tax_unit_head: true + tax_units: + tax_unit: + members: [person1] + premium_tax_credit: 0 + spm_units: + spm_unit: + members: [person1] + households: + household: + members: [person1] + state_code: CO + output: + # Taxable income after federal standard deduction ($15,000 for 2025) + # CO taxable income = Federal AGI - CO subtractions = $60,000 + # CO tax = taxable income * 4.4% rate + # Sales tax refund: $60k income -> second bracket ($52,001-$105,000) = $25 + co_sales_tax_refund: 25 + +- name: 2025 Joint filers with employment income - 4.4% tax rate + absolute_error_margin: 1 + period: 2025 + input: + people: + person1: + age: 40 + employment_income: 80_000 + is_tax_unit_head: true + person2: + age: 38 + employment_income: 40_000 + is_tax_unit_spouse: true + tax_units: + tax_unit: + members: [person1, person2] + filing_status: JOINT + premium_tax_credit: 0 + spm_units: + spm_unit: + members: [person1, person2] + households: + household: + members: [person1, person2] + state_code: CO + output: + # Combined income: $120,000 + # Sales tax refund: $120k income -> third bracket ($105,001-$168,000) + # Joint amount = $29 * 2 = $58 + co_sales_tax_refund: 58 + +- name: 2025 Family with young child - CTC and Family Affordability Credit + absolute_error_margin: 5 + period: 2025 + input: + people: + parent1: + age: 32 + employment_income: 20_000 + is_tax_unit_head: true + child1: + age: 3 + is_tax_unit_dependent: true + tax_units: + tax_unit: + members: [parent1, child1] + filing_status: HEAD_OF_HOUSEHOLD + premium_tax_credit: 0 + spm_units: + spm_unit: + members: [parent1, child1] + households: + household: + members: [parent1, child1] + state_code: CO + output: + # Child under 6 qualifies for: + # - CTC: $1,200 max (income below $25k single threshold) + # - Family Affordability Credit: $3,273 (ages 0-5) * multiplier + # Sales tax refund: $20k income -> first bracket ($0-$52,000) = $19 + co_sales_tax_refund: 19 + co_ctc: 1_200 + +- name: 2025 Family with older child - Family Affordability Credit only + absolute_error_margin: 5 + period: 2025 + input: + people: + parent1: + age: 40 + employment_income: 15_000 + is_tax_unit_head: true + child1: + age: 10 + is_tax_unit_dependent: true + tax_units: + tax_unit: + members: [parent1, child1] + filing_status: HEAD_OF_HOUSEHOLD + premium_tax_credit: 0 + co_ctc: 0 + co_cdcc: 0 + co_low_income_cdcc: 0 + co_eitc: 0 + co_sales_tax_refund: 0 + spm_units: + spm_unit: + members: [parent1, child1] + households: + household: + members: [parent1, child1] + state_code: CO + output: + # Child age 10 qualifies for Family Affordability Credit only (age 6-16) + # $2,455 * 0.75 multiplier = $1,841.25 at full amount + # At $15k income (below threshold), should get full credit + co_family_affordability_credit: [0, 2_455] + +- name: 2025 EITC integration - low income worker with child + absolute_error_margin: 10 + period: 2025 + input: + people: + parent1: + age: 28 + employment_income: 25_000 + is_tax_unit_head: true + child1: + age: 7 + is_tax_unit_dependent: true + tax_units: + tax_unit: + members: [parent1, child1] + filing_status: HEAD_OF_HOUSEHOLD + premium_tax_credit: 0 + spm_units: + spm_unit: + members: [parent1, child1] + households: + household: + members: [parent1, child1] + state_code: CO + output: + # Federal EITC for 1 child at $25k income (head of household) + # CO EITC = 50% of federal EITC + # Sales tax refund: $25k income -> first bracket = $19 + co_sales_tax_refund: 19 + +- name: 2025 Senior with pension - senior subtraction eligible + absolute_error_margin: 5 + period: 2025 + input: + people: + person1: + age: 68 + taxable_private_pension_income: 30_000 + social_security: 18_000 + is_tax_unit_head: true + tax_units: + tax_unit: + members: [person1] + premium_tax_credit: 0 + spm_units: + spm_unit: + members: [person1] + households: + household: + members: [person1] + state_code: CO + output: + # Senior (age 65+) qualifies for pension/SS subtraction + # Sales tax refund: $48k total income -> first bracket = $19 + co_sales_tax_refund: 19 + +- name: 2025 High income family - phased out credits + absolute_error_margin: 5 + period: 2025 + input: + people: + parent1: + age: 45 + employment_income: 150_000 + is_tax_unit_head: true + parent2: + age: 43 + employment_income: 100_000 + is_tax_unit_spouse: true + child1: + age: 4 + is_tax_unit_dependent: true + tax_units: + tax_unit: + members: [parent1, parent2, child1] + filing_status: JOINT + premium_tax_credit: 0 + spm_units: + spm_unit: + members: [parent1, parent2, child1] + households: + household: + members: [parent1, parent2, child1] + state_code: CO + output: + # Combined income: $250,000 + # CTC: Phased out at this income level (joint limit ~$87k) + # Family Affordability Credit: Phased out (joint limit ~$96k) + # Sales tax refund: $250k -> fifth bracket ($233,001-$299,000) + # Joint amount = $37 * 2 = $74 + co_sales_tax_refund: 74 + co_ctc: 0 + +- name: 2025 Family with multiple children - different age groups + absolute_error_margin: 5 + period: 2025 + input: + people: + parent1: + age: 35 + employment_income: 10_000 + is_tax_unit_head: true + child1: + age: 2 + is_tax_unit_dependent: true + child2: + age: 8 + is_tax_unit_dependent: true + child3: + age: 14 + is_tax_unit_dependent: true + tax_units: + tax_unit: + members: [parent1, child1, child2, child3] + filing_status: HEAD_OF_HOUSEHOLD + premium_tax_credit: 0 + co_ctc: 0 + co_cdcc: 0 + co_low_income_cdcc: 0 + co_eitc: 0 + co_sales_tax_refund: 0 + spm_units: + spm_unit: + members: [parent1, child1, child2, child3] + households: + household: + members: [parent1, child1, child2, child3] + state_code: CO + output: + # Child age 2: CTC $1,200 + FATC $3,273 + # Child age 8: FATC $2,455 (age 6-16 category) + # Child age 14: FATC $2,455 (age 6-16 category) + # At $10k income (below thresholds), full credit amounts + co_family_affordability_credit: [0, 3_273, 2_455, 2_455]