Q: Is there an amount of money you can earn that's under what you're required to file state taxes for?
A: Colorado requires a return be filed for all full time or part time Colorado residents (regardless of income). This can result in a CO income tax return filed with all 0s. Note, there is no penalty for not filing IF there is no Colorado tax liability. The rules are similar for business and trusts based in Colorado. For Colorado-source income (without a Colorado residence), a return must be filed for ONLY the Colorado-source income. Contact a tax professional if you need more information.
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