How much does a Petroleum Engineers actually take home in Colorado?
4.4% flat rate — 29.8% effective total tax rateData: BLS OEWS 2024 + IRS/State Tax Brackets 2024 • Updated 2026-04-02
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Detailed line-by-line tax calculation for a Petroleum Engineers earning $170,010 in Colorado (single filer, standard deduction).
| Tax Component | Annual Amount | Effective Rate |
|---|---|---|
| Gross Salary (Median) | $170,010 | — |
| Federal Income Tax | -$30,340 | 17.8% |
| Colorado State Income Tax | -$7,480 | 4.4% |
| Social Security (OASDI) | -$10,453 | 6.1% |
| Medicare | -$2,465 | 1.4% |
| Total Taxes | -$50,739 | 29.8% |
| Take-Home Pay | $119,270 | 70.2% |
Take-home pay varies significantly across experience levels. Here is the after-tax breakdown for each salary percentile of Petroleum Engineers in Colorado.
| Percentile | Gross Salary | Total Taxes | Take-Home Pay | Tax Rate |
|---|---|---|---|---|
| 10th Percentile (P10) | $82,190 | -$19,826 | $62,363 | 24.1% |
| 25th Percentile (P25) | $119,020 | -$32,445 | $86,574 | 27.3% |
| Median (P50) | $170,010 | -$50,739 | $119,270 | 29.8% |
| 75th Percentile (P75) | $206,820 | -$61,810 | $145,009 | 29.9% |
| 90th Percentile (P90) | $224,750 | -$68,758 | $155,991 | 30.6% |
After federal income tax ($30,340), state tax ($7,480), and FICA ($12,918), a Petroleum Engineers in Colorado takes home $119,270 per year — or $9,939 per month. The effective tax rate of 29.8% is moderate compared to the national range.
Where does a Petroleum Engineers keep the most of their paycheck? Top 10 states ranked by after-tax take-home pay.
Colorado ranks #2 out of 26 states for Petroleum Engineers after-tax take-home pay.
A Petroleum Engineers in Colorado earning a median salary of $170,010 will take home approximately $119,270 per year after federal income tax ($30,340), state income tax ($7,480), and FICA ($12,918). That is $9,939 per month or $4,587 per bi-weekly paycheck.
The effective total tax rate for a Petroleum Engineers in Colorado is 29.8%, broken down as: federal income tax 17.8%, Colorado state tax 4.4%, and FICA (Social Security + Medicare) 7.6%. This assumes a single filer with the standard deduction for 2024.
Colorado has a 4.4% flat rate. On a Petroleum Engineers's median salary of $170,010, the state income tax amounts to $7,480 per year, which is an effective state rate of 4.4%.
After all taxes, a Petroleum Engineers in Colorado takes home approximately $9,939 per month, or about $57.34 per hour (based on a standard 2,080-hour work year). These figures assume a single filer, standard deduction, and no additional pre-tax deductions.
We start with the 2024 BLS median salary of $170,010 for Petroleum Engineers in Colorado, then subtract: federal income tax using 2024 IRS brackets ($14,600 standard deduction), Colorado state income tax (4.4% flat rate), Social Security (6.2% up to $168,600), and Medicare (1.45%). The result — $119,270/yr — does not include local taxes, pre-tax deductions (401k, HSA), or tax credits.
This estimate assumes a single filer using the 2024 standard deduction ($14,600), with W-2 employment income only. It does not account for: itemized deductions, tax credits (e.g. earned income credit, child tax credit), local/city taxes, pre-tax contributions (401k, HSA, FSA), self-employment tax, or additional income sources. Actual take-home pay may differ. Consult a tax professional for personalized advice.
Our Methodology · Data Sources · Salary: BLS OEWS · Tax: IRS + State DOR