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Discussion Starter · #1 ·
The G Junction state ofc doesn't think the $6000/4400 lease tax credit exists, so I can't ask them.

I would need to spread the credit over 3 years.

I have been told by one Denver dealer the credit is one shot with no State carryforward.

Help.
 

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The federal tax credit of $7500 is definitely a one-year deal only, cannot be carried over. Unfortunately I'm not familiar with your state's credits though.
 

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I believe it's structured the same way as the Federal credit. One year, no carry forward. There are lots of threads about the CO credit that might have more info.
 

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I'm sure you must use it in the year of your purchase. The program was changed a bit this year and now also takes into account the price of the vehicle. I'm not sure how this effects the credit compared to previous years, but I think the outcome is probably nearly the same.
 

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http://www.leg.state.co.us/clics/clics2013a/csl.nsf/billcontainers/C64EAF0A2C033F4987257AFE0063369A/$FILE/1247_enr.pdf
 

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It is a refundable tax credit. That means that if your tax liability is less than the credit you get a check for the difference. The Federal credit is different. You only get the value of the credit up to your tax liability.

Also, starting in 2013 the amount of the credit is not a fixed $6,000. It is based on how much you pay for the car minus the Federal credit you get. You take that net cost, multiply it by the battery capacity (16.5) and divide by 100. So, if you pay $34,000 and get the full Federal credit of $7,500 you multiply $26,500 times 16.5 which equals 437250, which you divide by 100 to give you a credit of $4372.
 

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Discussion Starter · #7 ·
That sounds good, Gary. And this works even though the Fed credit is taken by the leasing company, right?
 

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