[Boarmangl]

I was reading more on the Colorado website-innovative credit and saw this
"Credit calculation when the qualifying vehicle is eligible for other grants, credits, or rebates
If a qualifying motor vehicle purchase, lease, or conversion also qualifies for any other grants, credits, or rebates, the
other grants, credits, or rebates must be deducted in calculating the Colorado credit, regardless of whether any such
grants, credits, or rebates are actually claimed or received. Other grants, credits, or rebates that must be deducted
include any available federal grants, credits, or rebates. Information regarding alternative fuel vehicle grants, credits,
and rebates can be found online at"

Does anyone know exactly what this means as far as using the federal tax credit and state one together? We bought a Volt in 2013 and received BOTH credits. We are looking to buy a 2016 and now concerned that we can't get the full Colorado credit? How does this work? thanks in advance.

 

[Eric]

I don't recall this language when we filed for the CO credit back in 2013 (for our MY 2012 Volt). It looks to me like a change in the rules. I found via google the "Income 67" document that has the text you quoted. The copy I found is dated "05/14". I wonder if more current versions have this same text? (It seems like the state revises this doc often.) At face value, this seems to be a huge (negative) change to the CO rules. It seems like the only people who would qualify for a CO credit would be those with lower federal income tax liability.

 

[Gary Norton]

This is not new. I've done it for three Volts. This is the formula: Base price minus Federal tax credit you get times battery capacity divided by 100. 34,000 - 7,500 X 18.4 divided by 100 = $4870. I guessed on the base price and battery for 2016 but it's close.

 

[intimacygel]

https://www.colorado.gov/pacific/sites/default/files/Income67.pdf

This literally explains everything for the next few years. Get another electric car before 2018 or the rebate tapers off pretty badly after that year