Graduated Income Tax Petition Drive Launched in Colorado

A coalition of Colorado community and tax policy groups has been cleared to start collecting signatures for a ballot initiative asking voters to establish a graduated income tax system that will lean primarily on wealthy taxpayers.

The Protect Colorado’s Future coalition said Friday it plans to collect more than 125,000 signatures before August to ensure Initiative 195 appears on the November ballot, modifying current constitutional language that limits the state to a flat personal and corporate income tax. While the rate has fluctuated, it currently rests at 4.4% for both individuals and businesses. The proposed system is expected to have ...