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Paycheck Calculation Formula:
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The Denver Colorado Paycheck Calculator helps employees in Denver estimate their net pay after accounting for federal, state, local taxes, and FICA contributions. It provides an accurate calculation specific to Denver's tax structure for 2025.
The calculator uses the following formula:
Where:
Explanation: The calculation accounts for all mandatory deductions specific to Denver, Colorado for the year 2025.
Details: Accurate paycheck calculation is essential for financial planning, budgeting, and understanding your take-home pay after all mandatory deductions.
Tips: Enter your gross pay amount, federal tax withholding, and select your pay frequency. The calculator will automatically compute state tax (4.4%), local Denver tax ($5.75/month prorated), and FICA contributions (7.65%).
Q1: Why is Colorado state tax 4.4%?
A: Colorado has a flat state income tax rate of 4.4% for 2025, which applies to all taxable income levels.
Q2: What is the local Denver tax?
A: Denver charges a flat $5.75 per month occupational privilege tax, which is prorated based on your pay frequency.
Q3: How is FICA calculated?
A: FICA consists of Social Security (6.2%) and Medicare (1.45%) taxes, totaling 7.65% of your gross pay.
Q4: Are there other deductions not included?
A: This calculator includes mandatory taxes only. Additional deductions like health insurance, retirement contributions, or voluntary deductions are not included.
Q5: Is this calculator accurate for all income levels?
A: While the state and local taxes are fixed, federal tax varies by income bracket. For precise federal withholding, consult IRS withholding tables.