Child support payments in Colorado are typically calculated using a predetermined formula or a child support calculator. The calculator take into account a number of factors, including the income level of the parents, and other factors to arrive at an estimated child support payment that the non-custodial parent is required to make to the custodial parent.
To arrive at the estimated child support payments, the calculator will take into account the number of children for whom the non-custodial parent will be making payments, the gross income of the non-custodial parent, and the monthly cost of daycare as well as a family group health insurance paid by the noncustodial parent. If the non-custodial parent is currently paying child support for children from a previous marriage or alimony to an earlier spouse, then that will also be taken into account in the child support calculator. If the custodial parent has children from a previous marriage, or is paying alimony to an ex-spouse, the amount of child support and alimony will also be factored in.
However, these estimates do not apply to every situation. For instance, in those cases, where the child’s custody will be shared by the parents, the above calculations may not work. Typically, a parent who has the child for less than half of the time, is referred to as the non-custodial parent. This parent will be responsible for making child support payments. In Colorado, the system is based on the income shares method, in which support is calculated based on the child’s share of a portion of the parents’ income. Among the other factors that are taken into account, is the amount of time you spend with the children. Gross income of the custodial or noncustodial parent, includes not just wages and salaries, but also pensions, overtime payments, tips, and even other types of federal benefits like workers’ compensation official or Social security benefits.