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    hphappy1963's Avatar
    hphappy1963 Posts: 1, Reputation: 1
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    #1

    Jan 11, 2011, 09:34 AM
    What is the state tax % for 401k withdrawl in Colorado?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Jan 11, 2011, 09:38 AM

    The proceeds of a 401(k) withdrawal are added to your taxable income for the year. So how taxes you owe depends on your total taxable income. You will still owe the 10% federal penalty.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Jan 11, 2011, 09:47 AM
    Colorado will tax the distribtuion as ordinary income, with NO penalty like the federal return. As ScottGem said, the percentage depends on your overall income.
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