Are there Colorado state 1099 tax filing requirements?
Yes, Colorado requires all 1099 forms to be filed with the Colorado Department of Revenue.
Which forms does Colorado require?
If Colorado tax is required to be withheld for any income earned, payers are required to submit an annual information return and 1099s to the CO Department of Revenue.
A Colorado state 1099 tax filing may be required for the following forms:
| 1099-A | 1099-G | 1099-MISC | 1099-QA |
| 1099-B | 1099-INT | 1099-NEC | 1099-R |
| 1099-C | 1099-K | 1099-OID | 1099-S |
| 1099-CAP | 1099-LS | 1099-PATR | 1099-SA |
| 1099-DIV | 1099-LTC | 1099-Q | 1099-SB |
In addition to Form W-2, Colorado requires Form DR 1106, Annual Transmittal of State 1099 Forms, to be filed.
How must Forms 1099 be filed with Colorado?
Colorado accepts both paper filing and e-filing. However, e-filing is required if filing more than 250 forms.
Does Colorado participate in Combined Federal/State Filing?
Yes, Colorado participates in Combined Federal/State Filing. If you utilize CF/SF when filing your 1099s, the IRS will forward the information to the Colorado Department of Revenue and you will not have to do so yourself.
However, if withholding is reported on the 1099 forms, you are required to also file your forms and Form DR-1106 to report backup withholding to the state directly.
Form 1099-NEC must be filed directly with the state of Colorado, even if you participate in the CF/SF program.
What are the due dates for Colorado state 1099 tax filing?
Traditionally, the filing and furnishing deadline for Colorado Forms 1099 and DR 1106 is January 31st.
If the deadline falls on a weekend or legal holiday, then the due date is typically the following business day.
What are the penalties for Colorado state 1099 tax filing?
The 1099 penalties for Colorado are as follows:
- Failure to file or late filing: Penalty of $5-50 per form, at the CO Department of Revenue’s discretion. This penalty also applies if the employer was required to file electronically and failed to do so, even if they filed via paper filing.
- Failure to pay or late payment: Penalty of $5 or 5% of unpaid tax, whichever is greater, PLUS an additional 0.5% for reach month that the tax isn’t paid, not to exceed 12% of unpaid tax.
What is the responsible state agency?
Colorado Department of Revenue
Taxation Divison
P.O. Box 17087
Denver, CO 80217-0087
(303) 238-7378
What about other states?
BoomTax, The Boom Post, and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors prior to engaging in any transaction.
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