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Payroll Colorado, Unique Aspects of Colorado Payroll Law and Practice

The Colorado State Agency that oversees thereached  at  303-297-2849 or on the web at .
collection and reporting of State income
taxes  deducted  from  payroll  checks  is:Colorado does not allow compulsory direct
deposit
Department  of  Revenue
Colorado requires the following information
State  Capital  Annexon  an  employee's  pay  stub:
1375  Sherman  St.Gross  and  Net  Earnings
Denver,  CO  80261-0009Deductions
800-332-2087www  revenue.state.co.us/Pay  period  dates
Colorado allows you to use the Federal W-4Employee's  name  or  social  security number
form to calculate state income tax
withholdingEmployer's  name  and  address
Not all states allow salary reductions madeColorado requires that employees be paid
under Section 125 cafeteria plans or 401(k)monthly or every 30 days which ever is
to be treated in the same manner as the IRSlonger.
code allows. In Colorado cafeteria plans
are: not taxable for income tax calculation;In Colorado requires that employees be paid
not taxable for unemployment insuranceno more than 10 days after the end of the pay
purposes. 401(k) plan deferrals are: notperiod.
taxable for income taxes; taxable for
unemployment  purposes.Colorado payroll law requires that
involuntarily terminated employees must be
In Colorado supplemental wages are taxed at apaid their final pay immediately or within 6
4.63%  flat  rate.hours of the payroll department becoming
operational; next day if payroll is offsite.
You must file your Colorado State W-2s by(By mail upon request) Voluntarily
magnetic media if you are required to fileterminated employees must be paid their final
your  federal  W-2s  by  magnetic  media.pay  by  the  next  regular  payday.
The Colorado State Unemployment InsuranceDeceased employee's wages must be paid to the
Agency  is:surviving spouse or next legal heir; personal
representative if already appointed. After
Department  of  Labor  &  Employmentan affidavit showing claimant's relationship
to  the  deceased  is  presented.
Division  of  Employment  and  Training
Escheat laws in Colorado require that
1515  Arapahoe  St.,  Tower  2,  Ste.  400unclaimed wages be paid over to the state
after  one  year.
Denver,  CO 80202-2117
The employer is further required in Colorado
303-603-8254to keep a record of the wages abandoned and
turned over to the state for a period of five
The State of Colorado taxable wage base foryears.
unemployment purposes is wages up to
$10,000.00.Colorado law concerning tip credits against
State minimum wage allows a maximum credit of
Colorado has optional reporting of quarterly$3.02  per  hour.
wages  on  magnetic  media.
In Colorado the payroll laws covering
Unemployment records must be retained inmandatory rest or meal breaks are a 30-minute
Colorado for a minimum period of five years.meal break after five hours and 10 minutes of
This information generally includes: name;rest  after  four  hours.
social security number; dates of hire, rehire
and termination; wages by period; payroll payColorado law concerning record retention of
periods and pay dates; date and circumstanceswage and hour records requires a minimum of
of  termination.two  years  retention.
The Colorado State Agency charged withThe Colorado agency charged with enforcing
enforcing  the  state  wage and hour laws is:Child  Support  Orders  and  laws  is:
Department  of  Labor  &  EmploymentDivision  of  Child  Support  Enforcement
Labor  Standards  Office1575  Sherman  St.,  2nd  Fl.
1515  Arapahoe  St.,  Ste.  375Denver,  CO  80203-1714
Denver,  CO 80202-2117303-866-5994
303-318-8441Colorado has the following provisions for
child  support  deductions:
The minimum wage in Colorado is $5.15 per
hour.When to start Withholding? Within 14 days
after  receipt  of  order.
The general provision in Colorado State Law
covering paying overtime is one and one halfWhen to send Payment? Within 7 days of
times regular rate after 12 hour day or 40Payday.
hour  week.
When to send Termination Notice? Within 10
Colorado State new hire reportingdays  of  termination.
requirements are that every employer must
report every new hire or rehire. TheMaximum  Administrative Fee? $5 per month.
employer must report the federally required
elements  of:Withholding Limits? Federal Rules under
CCPA.
Employee's  name
Please note that this article is not updated
Employee's  addressfor changes that can and will happen from
time  to  time.
Employee's  social  security  numbe
Charles J. Read, CPA has been in the payroll,
Employer's  nameaccounting and tax business for 30 years, the
last  fifteen  in  private  practice.
Employers  address
Mr. Read is the author of How to Start a New
Employer's Federal Employer IdentificationBusiness.
Number (EIN)
To find professional payroll service at a
This information must be reported within 20budget price go to a paperless payroll
days of the hiring or rehiring or firstcompany.
payroll  after  hire.
For a full service payroll bureau with CPAs
The information can be sent as a W4 oron  staff  visit .
equivalent  by  mail,  fax or electronically.
See an excerpt of Mr. Reads interviews from
There is no penalty for a late report inWilliam Shatners Heartbeat of America
Colorado.television show on the web sites linked
above.
The Colorado new hire reporting agency can be



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