Colorado voters weigh six-bracket tax plan that could reshape bills

The Colorado Sun provides an online calculator to estimate how Initiative 195 would change tax bills under a proposed six-bracket graduated income tax (3.7% up to $25k; 4.2% to $100k; 4.4% to $500k; 7.4% to $750k; 7.9% to $1M; 8.4% above $1M), replacing Colorado’s flat 4.4% rate. It notes the estimates are based on federal taxable income, are for planning purposes, and that actual filings will vary, with higher earners potentially paying more and some lower earners paying less.