Colorado EV Tax Credit

September 27, 2020

Colorado Electric Vehicle Tax Credits

Updat­ed as of 1/4/21: The $4,000 no longer applies for 2021. This cred­it has been reduced to $2,500. 

Dis­claimer: Dri­ve Elec­tric Col­orado and its affil­i­ates are not tax advi­sors. This infor­ma­tion is pro­vid­ed to help you make an informed deci­sion. Please con­sult your tax advi­sor for advice about your spe­cif­ic situation.

Inter­est­ed in own­ing or leas­ing an elec­tric vehi­cle? Right now you can get a $4,000 tax cred­it in Col­orado for the pur­chase or lease of ANY new all-elec­tric vehi­cle and qual­i­fy­ing plug-in hybrid elec­tric vehi­cles! This includes all Tes­la mod­els and Bolts that do not receive the Fed­er­al tax incentive.

This tax cred­it goes down to $2,500 on Jan­u­ary 1, 2021 so buy your car now to take advan­tage of the $4,000 credit.

You can lease an elec­tric vehi­cle instead and get $2,500 by the end of the year. Tax cred­its can be stacked with fed­er­al EV incen­tives and will decrease in val­ue after 2020, drop­ping to $2,500 in 2023 and $2,000 in 2026.

If you don't have $4,000 in Col­orado state income tax this year you can roll over the unused por­tion of the cred­it to next year.

Don’t miss out on this offer to save big on elec­tric vehi­cles by Jan­u­ary 1, 2021. 

Learn more about the Col­orado tax cred­its and how to claim them here.

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