While Colorado is home to relatively fewer foreign immigrants, the state more than makes up for it with interstate in-migration.
The most significant shift in the tax reform bill is a decrease in the top corporate tax rate from 35 percent to 21 percent – a monumental decline by any standards.
We’ll have to wait until January to see the final numbers, but if spending trends over the holidays are a good litmus test for the general state of the economy, I’d say things are looking moderately healthy.
For corporations the rate is permanently reduced from 35 percent to 21 percent.
The “theory” behind the tax cut is that businesses will reinvest this capital and therefore continue to drive the economy.
Given the historically low unemployment rate, it appears further employment growth could be significantly hindered in 2018.
There are still more people moving here than leaving, but the reasons people are giving are headed out will ultimately slow the population increases in the near future and have an impact on future real estate price appreciation.
Comparing the two rates is a good way to look at the Denver economy relative to the nation – higher inflation generally means a hotter economy.
What is in the tax bill that is so different? The proposed tax bill changes the way mortgage servicing rights are treated.
As the bill stands now, tax brackets will decrease, the wealthy will get a greater break, teachers will get a nominal tax deduction taken away, corporate taxes will decrease, the Federal deficit will rise, and small business owners with pass-through status will get a tax break.
Colorado currently has 22 public CNG fueling stations with locations from Grand Junction to Colorado Springs, from Eaton to Trinidad.
The proposed Tax Cuts and Jobs Act, unveiled by the Trump administration Nov. 2, 2017, proposes to eliminate the deduction for maintenance (alimony) payments made to an ex-spouse for Decrees entered into after Jan. 1, 2018