January 18th, 2022

Colorado Employer Tax Prep 2022

The 2022 tax filing season officially begins on January 24th. But employers have already been preparing forms. This year will be another challenging tax year for Colorado businesses due to the ongoing pandemic and changes. 

Colorado also implemented a new wage base and employer tax rates for specific industries this year. For reference, the minimum wage for Colorado in 2022 is $12.56 per hour. The increase went into effect on January 1st, 2022. The minimum salary for exempt employees in Colorado (employees exempted from overtime pay) increased from $40,500 to $45,000. 

So while preparing forms for 2021, businesses should also keep an eye out for changes for this year. To avoid penalties or issues with your tax filing, make sure: 

  1. Employee information is up to date
  2. You don’t miss deadlines
  3. Your payroll is up to date with 2022 requirements 

To help, here are some of the tax forms and deadlines that Colorado employers need to know. 

Colorado Tax Forms & Deadlines 

There are a variety of end-of-year tasks that have probably taken up your time lately. But the new year means you have to submit some required tax forms in January and February: 

  • Form W-2 and W-3
  • Form 1099-NEC, Form 1099-MISC, and Form 1096
  • Form 941 and Form 940

While getting these forms put together and filed, now is also an ideal time to submit any license renewals you may have, update employee information, report any changes to your business, and review your HR policies and procedures.  

2022 Colorado Tax Deadlines

Download the Full List of 2022 Tax Deadlines

Use this reference guide to keep track of important tax deadlines—from end-of-year tax forms to quarterly state withholding to unemployment forms.

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Let Obsidian HR Tackle Your Taxes

Obsidian HR knows the burden that tax administration places on businesses. As a result, we process, file, pay, and distribute many of your payroll tax documents, reports, and deposits on your behalf. 

We stay up to date with the changes, filing requirements, and deadlines that each tax season brings so you don’t have to. We’ll also remind you of other important dates and HR requirements. 

  • We record, file, and share your forms with you (Form W-3, W-2 1099s, 941, 940, 1096, and SUTA and state withholding quarterly and annually) 
  • Paystubs and W-2 forms are available electronically for you and your employees for ease and convenience through our payroll platform 
  • Our platform also tracks time off, attendance, and can create customized reports to make it easier to conduct payroll audits and update employee records

Plan for the year with our 2022 HR Calendar. And if you’re ready to spend less time dealing with these administrative end-of-year tasks—and more time celebrating the new year—reach out to us!

Download the 2022 HR Calendar!

Use this calendar to keep track of all the human resource dates you need to know—from major federal and state holidays to key compliance deadlines and more. With Obsidian HR, it's easier to handle payroll, HR, and compliance deadlines. 

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