Conservatives filed a lawsuit in September, challenging the initiative’s placement on the ballot because dozens of paid signature gatherers for Amendment 87 didn’t follow the state’s registration rules
Today, everyone in Colorado pays the same 4.4% state income tax rate, no matter how much money they make.
Under Amendment 87, individual income and business profits would be taxed at different rates across six brackets.
Taxes would go down to 4.2% or less on the first $100,000 of taxable income. Then, for every dollar earned above $500,000, the tax rate would increase in increments up to a top marginal tax rate of 8.4% for income greater than $2 million.
10·9 days ago