Another importance factor in choosing a location is its cost of doing business. Although Archuleta County is a mountain resort community, you will find the County has extremely competitive rates.
Additionally, Colorado was ranked 6th in 2006 for the most Business-Friendly Tax Climate and the State has no business franchise or inventory tax. Archuleta County currently has no Use Tax. View additional information below:
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Local Property Taxes: Assessed on 29% of actual value for commercial properties, 7.96% for residential. View More Details |
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State Income Tax
Corporate Income Tax Rate: 4.63%
Colorado offers businesses the choice of calculating their state tax liability on the basis of the standard three-factor formula (revenue, property and payroll) or a two-factor formula (revenue and property), whichever is less. The apportionment formula can be changed annually. There are tax credits available for investment and other items.
Individual Income Tax Rate: 4.63% of Federal net taxable income with adjustments
Local Property Taxes
Taxes on commercial and industrial property are levied against a taxable (or "assessed") value, which is calculated as 29% of actual value for commercial properties, 7.96% for residential. The average mill rate in Archuleta County is 57.837 mills. The following example illustrates the calculation of property taxes. A $2,500,000 facility would have a taxable or assessed value of $725,000 ($2,500,000 x .29). Based on the average mill levy, the annual property taxes due on the facility would be $41,931.83. Of course this value could go up or down depending on the different districts.
Sales Tax
Sales Tax for Archuleta County is 6.9%. The state sales tax rate is 2.9%, with 4% being levied by Archuleta County. The Town of Pagosa Springs splits the 4% with Archuleta County.
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Unemployment Insurance Tax
Unemployment insurance taxes are based on a company's taxable wage base, which is the first $10,000 of each worker's wage. Effective July 1, 1997, an employer newly subject to unemployment tax pays at the standard rate of 1.7 percent (0.017) or at a computed rate, whichever is higher. A tax surcharge of .22% is added for benefits paid out and not chargeable to any specific, active employer. For more information, contact the CO Department of Labor & Employment at 1-800-480-8299, or visit their website at http://www.coworkforce.com/UIT/
Workers' Compensation Rates
Workers' compensation rates vary by industry. For information about the workers' compensation rate for a specific industry, contact the Colorado Compensation Insurance Authority at (303) 837-4000.
Site and Building Costs
There is a wide variety of commercial real estate in the Pagosa area. See the Commercial/Industrial Development section for data and reports, and an interactive map. For companies looking to lease, the average lease rates for retail and office space range anywhere from .85 cents to $1.50 per square foot. Industrial is currently leasing at the rate of .60 cents per square foot on average. Most leases are triple net. See our interactive map for some of the site locations where potential lease space may be available.
For companies looking to build, industrial land is currently selling for $2.29 per square foot, with building costs averaging around $65-$75 per square foot. For additional information, contact the Pagosa Springs Builders Association.
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Infrastructure Rates
For infrastructure rates, see our Infrastructure section.
Wages and Salaries
Salaries are competitive for the area. See the following report for detailed information:
CO OES Wage Survey Report
Links
Archuleta County Tax Assessor
Pagosa Springs Builders Association
Colorado Dept of Revenue
Colorado Tax Forms
Colorado Business Resource
Unemployment Compensation Rate
Worker's Compensation Insurance
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