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Colorado income tax credit

Colorado income tax credit

HI everyone.... so I'm finishing up my taxes this morning, and I noticed something potentially awesome... I always thought that the colorado EV tax credit was only for new vehicles, and so when I bought my used Model S earlier this year, I totally did not expect to file for the colorado EV credit. Anyways, just for laughs, I re-read the instructions for that EV credit form https://www.colorado.gov/pacific/sites/default/files/Income67.pdf and found this:

"The purchase of a used vehicle may qualify if the vehicle’s prior owner did not initially title and register it in Colorado. A vehicle history report must be submitted with any credit claim for the purchase of a used vehicle."

Holy crap! I biought that car from out of state, and it has never been registered in Colorado before. So that seems to indicate to me that I get the credit. I am not a lawyer, but I do worry that they say "may qualify" instead of "shall qualify" but still, i think i have a chance. Since this is a $5,000 credit, it is not insignificant (at least not to me)

does anyone here have experience getting the colorado EV credit for their used EV?

thanks,

peter

jimglas | 8 febbraio 2020

Ask your accountant
Sounds right to me