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Tax Credit on used cars for out of state buyers?

Discussion in 'Mountain/Southwest' started by Chaitu, Jun 24, 2016.

  1. Chaitu

    Chaitu Member

    Joined:
    Jun 8, 2016
    Messages:
    62
    Location:
    Kansas City
    I heard colorado has $5000 tax credit on ev vehicles? can dealership claim the credit and reduce the price?
     
  2. deonb

    deonb Active Member

    Joined:
    Mar 4, 2013
    Messages:
    3,019
    Location:
    Redmond, WA
    You feel entitled to the money that the taxpayers of Colorado has paid to their state? Why exactly?
     
    • Like x 1
  3. Chaitu

    Chaitu Member

    Joined:
    Jun 8, 2016
    Messages:
    62
    Location:
    Kansas City
    nopes , not at all. Just a question out of curiosity.
     
  4. dgpcolorado

    dgpcolorado Member

    Joined:
    Apr 25, 2015
    Messages:
    698
    Location:
    The Western Slope, Colorado
    The story is this: under the old rules used EVs were eligible for up to $6000 in tax credit if they hadn't been registered in Colorado before. Under the new law there is a $5000 point-of-sale rebate (the dealer/store files for the rebate, as I understand it, and uses it as part of the down payment). The new rebate begins on January 1st, 2017 and applies to new cars only. So, no more used car tax credit after the end of this year. In order to claim the current tax credit you would need to register the car in Colorado and file a Colorado income tax return. With the new rebate I presume that the car would have to be registered in Colorado as part of the purchase process (but don't know for sure how it will work; the law is quite new).
     

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