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Owners in the Denver Colorado or surrounding area

Hello, I'm a new potential buyer. I wanted to know if you could share your experience with your purchase and tax credit. My understanding is that its a credit and not a actual rebate check. So you get a perceived saving toward your taxable income? Did it have a actual effect on your return? Dig you get a bigger return? Thank you for your input.
 

tvuolo

Member
Supporting Member
Sep 8, 2013
295
114
Colorado
For Colorado, it's a tax credit and has no impact on your taxable income. I owed ~$100 to the state. I got a $6000 credit less $100, and ended up with a check for $5900. I'm not sure about the federal credit, since my car was used (just never registered in CO).

NOTE: I filed my taxes in early Feb, and I didn't receive my check until late August. Colorado was having a bunch of fraud, so it took a long time this year. The point is... don't count on it arriving a few weeks after filing.
 

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