Colorado Passes “Best-in-Nation” Tax Credit for EVs


Colorado Passes “Best-in-Nation” Tax Credit for EVs

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The Legislative Council approved the Colorado bill creating a tax credit $ 5,000 for buyers who buy an electric car. of which procedure, which is usually supposed to be signed by the Governor, give the state what the item preaches best one environmental group “from the nation,” tax incentives for electric vehicles starting next year.

Colorado $ 5,000 credit applies to all EV buyers yet not to plug-in hybrids while tenants get a $ 2,500 credit. the item represents a simplification of the previous incentive program of the state (which uses a formula to determine the amount), in addition to is usually available for completely new cars only. Like all state tax credits, in addition to comes on top of the federal $ 7,500 credit. is usually supposed to jump start the electric car sales from the state percentages when the item enters into force on January 1, 2017.



the Colorado move at a time when some other states throttling back their EV incentives. in addition to Georgia abolished the tax exemption for up to $ 5,000 from the past year, Illinois has dropped up to $ 4,000 rebate in 2014, in addition to California in addition to the added income limits to his tax cuts.

Colorado Passes “Best-in-Nation” Tax Credit for EVs

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