Taxes

TAXES

Retail Sales Tax

2.9% State of Colorado (excluding food)

None Weld County

2% Town of Mead

State Corporate and Personal Income Tax

4.63% of Federal Taxable Income

Inventories, Goods in Transit and Intangibles

Not taxed in Colorado and there is no franchise tax.

Property Taxes

Industrial/commercial property (buildings, land and equipment) is assessed at 29% of market value (based on a variety of factors). The state does not levy a property tax; however, counties throughout the state do. In Weld County there are 150 tax districts that overlap in a way that creates over 1,522 different tax areas and therefore mill levies which range from approximately 60.000 mills to 148.000 mills. The mill levy represents the dollars levied for each $1,000 of assessed value. For example, with a mill levy of 95.000 mills, the property owner would pay $95.00 for every $1,000 in assessed value.

Personal Property Taxes
For information go to:

http://dola.colorado.gov/dpt/personal_property_tables/docs/2011%20ARL%205%20SAC%20CHANGES%20MEMO%2012-22-10.pdf

State Unemployment Insurance

Unemployment insurance tax liability is based on the taxable wage base, which is the first $10,000 of each worker’s wage. If covered for the first time, the tax rate will be 1.7% of the wage base or a rate equal to the industry average, whichever is greater. Upon the 3^rd and 4^th years of coverage, the rate is changed to a computed rate based on the employer’s individual experience.