Dr 0021w Colorado Form

Instructions and help about dr 0021w colorado pdf

You can choose to have Colorado State income taxes withheld from your PERA benefit. During your working years, your PERA contributions are tax deferred. This means that you don't pay income taxes on the amount that you put into your PERA account. Instead, you're taxed when you begin receiving payments. Although optional, you can choose to have Colorado State income taxes withheld from your retirement benefit by filling out the Colorado State withholding form. To complete the form, log into your secure account at copera.org. On the left side of the screen, click on “Forms” and select “Tax Withholding for Colorado State Income Tax”. If you don't plan to be a resident of Colorado and want to avoid any unplanned deductions, you can use this form to tell PERA that you want $0 withheld for the state. For Colorado residents, you can take advantage of the pension income exclusion, which lowers your taxable income. Here's how it works. From age 55 through 64, $20,000 of retirement incom