Chevy Bolt EV Forum banner
1 - 2 of 2 Posts

·
Registered
Joined
·
4 Posts
Discussion Starter · #1 ·
Hi all,
I am trying to get clarification -- with some hard evidence -- of the answer to the following question about the Colorado State EV tax credit:

1. Is the credit applied ONLY against your state tax liability for the year in which you leased (I leased my Bolt in Sept. 2017) the Bolt/EV without ANY additional credit up to $2,500?

2. OR does the formula for the credit work like this: Total of $2,500 back from the state -- with part of that coming to offset one's total state tax liability PLUS a refund for the rest of the $2,500 if one's state tax liability is less than $2,500.

The 2017 PDF document online from the Colorado State Dept. of Revenue does NOT explicitly provide an answer to my question.

My confusion arises because the 2016 PDF document DOES provide an answer, and the answer =

"The innovative motor vehicle credit is a refundable credit. The allowable credit is first applied against the income tax liability of the person who purchases, leases, or converts the qualifying motor vehicle. If the credit exceeds the tax due, the excess credit will be refunded."

Apparently I cannot put links in posts here, but I do have the exact links to BOTH the 2017 document, which, again does NOT even address the question of refund + tax liability OR tax liability only.

I am seriously bummed if the answer is that I can only get a rebate up to my tax liability in 2017 as clearly I will have lost out then because the language in the 2017 document states the financing company for Chevy could have applied $2,500 off my lease, but Ed Bozarth (Park Meadow) did NOT do this, and they clearly knew even less about the state tax credit in Colorado than I did.

If you add www. to the links below, you will come to both documents.

It seems CRAZY to me that the newest document does not even address how the consumer can claim the credit, or how it will work. Are buyers no longer allowed to claim the credit, only dealers and financers can claim it now?

C-O-N-F-U-S-I-N-G

.colorado.gov/pacific/sites/default/files/Income69.pdf (2017-2021)

.colorado.gov/pacific/sites/default/files/Income67.pdf (2015-2016)
 

·
Registered
Joined
·
6 Posts
Your scenario #2 is how the Denver Tesla showroom explained it works to a family member of mine who just leased a model S. The Drive Electric Northern Colorado site's information on the credit suggests the same (http://driveelectricnoco.org/tax-credits/). Neither of which are hard evidence, but I have yet to see anything that would qualify. You might try reaching out to the Northern Colorado group to see if they have any further details or sources.
 
1 - 2 of 2 Posts
Top