Colorado Filing Change Notices
The Colorado Department of Revenue Filing Change Notice indicates to the employer that their deposit requirements will change in the new year. This is related specifically to the state income taxes withheld from your employee's checks. If you would like to learn more about the specifics of how the state determines these deposit frequencies, click here or contact us to discuss the state look-back rules.
1. Going from a Quarterly deposit schedule to a Monthly deposit schedules.
Quarterly CO withholding taxes are typically due before the last day of the month preceding a quarter end (Jan/April/July/Oct)
Monthly CO withholding taxes would be due on the 15th following the months end.
2. Moving to a Weekly deposit frequency; this change requires employers make payments on an accelerated schedule on or before the third business day following any week ending in which they had withheld income tax from an employee's check. Weekly filers must make their payments via EFT.