Does Colorado have any tax incentives on EVSE?

[wantonsoup]

I've read that some locales have tax credits/rebates for getting an EVSE. Does Colorado? I can't find anything about this online, which doesn't bode well, but couldn't hurt to ask! Thanks. :mrgreen:

 

[iamwjh]

I performed a search on a site called "Google" and found the following results:

http://www.electricridecolorado.com/get_set/my_home/ready-your-home/colorado-tax-credits

http://www.colorado.gov/cs/Satellit...goBlobs&blobwhere=1251759239122&ssbinary=true

http://www.afdc.energy.gov/laws/law/CO/5246

http://www.pluginamerica.org/incentives

http://www.thecarelectric.com/content/electric-car-benefits-by-state.php

I hope you find these results useful in your search for information.

 

[wantonsoup]

I performed a search on a site called "Google" and found the following results:

Wow you're so super helpful! And still not an answer to my question. Thanks for replying! :ugeek:

 

[iamwjh]

:roll:

 

[MatimalND]

I did some research also and could not find a definitive answer on how much if any. Looks like you what can find from the google searches seems like you should but never found anyone that has.

I hope someone replies, trying to talk my sister in Fort Collins to get one.

 

[iamwjh]

I found the irs tax form for claiming the EVSE for residential use. However it is from 2012.
Maybe call the irs and ask.
IRS Tax Help Line for Individuals(800) 829-1040

 

[wantonsoup]

What is the form number

 

[iamwjh]

Sorry, meant to include that...
2012
http://www.irs.gov/pub/irs-pdf/f8911.pdf

Instructions for form: http://www.irs.gov/uac/Form-8911,-Alternative-Fuel-Vehicle-Refueling-Property-Credit

 

[iamwjh]

Sorry, meant to include that...

http://www.irs.gov/pub/irs-pdf/f8911.pdf

Looks like the 2012 credit was 30%. Don't know about 2013.

 

[MatimalND]

I guess I can't read. I was wondering on the rebate/tax credit for buying a Leaf or iMiEV not the EVSE. I posted on the MYiMiEV site but no response. Does anyone know the exact amount credit/rebate one gets for a Leaf or iMiEV in Colorado?

 

[iamwjh]

I guess I can't read. I was wondering on the rebate/tax credit for buying a Leaf or iMiEV not the EVSE. I posted on the MYiMiEV site but no response. Does anyone know the exact amount credit/rebate one gets for a Leaf or iMiEV in Colorado?

using the links that I posted above about the tax credits, I found this document:
http://boulderhc.com/FYI_Income67.pdf

I hope this helps.

 

[wantonsoup]

I guess I can't read. I was wondering on the rebate/tax credit for buying a Leaf or iMiEV not the EVSE. I posted on the MYiMiEV site but no response. Does anyone know the exact amount credit/rebate one gets for a Leaf or iMiEV in Colorado?

The Colorado electric car rebate situation is murky. They say it's up to $6k but they come up with some cockamamey value for each car based on nonsense apparently. I think it was around $4800 in 2012. Who knows for 2013, we'll find out when we do our taxes in 13 months.

Edit - had number wrong.

 

[iamwjh]

I guess I can't read. I was wondering on the rebate/tax credit for buying a Leaf or iMiEV not the EVSE. I posted on the MYiMiEV site but no response. Does anyone know the exact amount credit/rebate one gets for a Leaf or iMiEV in Colorado?

The Colorado electric car rebate situation is murky. They say it's up to $6k but they come up with some cockamamey value for each car based on nonsense apparently. I think it was around $3800 in 2012. Who knows for 2013, we'll find out when we do our taxes in 13 months.

From the Colorado DOR:

Leaf
2011 & 2012 Leaf: Category 1
Incremental price difference $13,920.00
Incremental price difference for comparison after FTC $6,420
Tax credit available for tax year 2012 $4,815

 

[Viktor]

Anyone figured out how much of that rebate would apply for leased cars?

 

[wantonsoup]

They address leasing in the document. It's basically whatever percentage your net lease payments are out of the total purchase price (cap cost) of the purchase tax credit.

 

[cgaydos]

I just did my 2012 taxes with TurboTax and read publication 67 referenced above.

So the Leaf Colorado tax credit is $4812 in both 2012 and 2013. 2012 is clearly stated in the document, 2013 you can deduce from the table they provide. For leasing as noted above you get part of the credit. Subtract the lease residual from the purchase price before taxes or the federal credit. Then divide by the purchase price to get the percentage of the car price that you are covering. Multiply that percentage times $4812 for your tax credit amount.

Turbo tax does this automagically although you have to input the car info twice and have to figure the lease percentage on your own.

I could not find an EVSE tax credit in Colorado. The federal credit for 2012 is also easily done in turbotax and is 30%.

 

[iamwjh]

If I understand all the rules,
Summary for Tax Year 2012:
Nissan LEAF Purchase:
Federal Tax Credit? YES
Colorado State Tex Credit? YES

Nissan LEAF Lease:
Federal Tax Credit? NO, must be purchased. Credit goes to the Owner/Leasing Agent
Colorado State Tex Credit? YES

EVSE Purchase:
Federal Tax Credit? YES
Colorado State Tax Credit? NO

Did I miss something?

 

[cgaydos]

If I understand all the rules,
Summary for Tax Year 2012:
Nissan LEAF Purchase:
Federal Tax Credit? YES
Colorado State Tex Credit? YES

Nissan LEAF Lease:
Federal Tax Credit? NO, must be purchased. Credit goes to the Owner/Leasing Agent
Colorado State Tex Credit? NO, must be purchased. Credit goes to the Owner/Leasing Agent.

EVSE Purchase:
Federal Tax Credit? YES
Colorado State Tax Credit? NO

Did I miss something?

All correct except that you do get a portion of the state tax credit if you lease. See my previous post and the earlier link to Publication 67.

For me the 2012 credit was over $1900 - almost covered the lease down payment.

 

[dgpcolorado]

"Does Colorado have any tax incentives on EVSE?"

No, none that I am aware of or that anybody else has reported over the last couple of years.

Do take advantage of the state tax credit, whether purchasing or leasing (the amount is reduced based on capitalized cost when leasing). Unlike the federal tax credit it is "refundable", meaning that one is eligible for the credit regardless of state taxes owed in the year claimed.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Information about the Colorado tax credits is scattered among several threads; since this one is active I'll repost it here:

The current information document from the Department of Revenue describing the Colorado tax credit:
FYI Income 67 Innovative Motor Vehicle and Alternative Fuel Vehicle Credits

The actual law governing the Colorado Tax Credits:
CRS 39-22-516.5. Tax credit for innovative motor vehicles

An old thread discussing the topic (last post a year ago):
Can anyone explain the Colorado state tax credit for EVs?

 

[iamwjh]

All correct except that you do get a portion of the state tax credit if you lease. See my previous post and the earlier link to Publication 67.

For me the 2012 credit was over $1900 - almost covered the lease down payment.

Thanks for the correction. I made the edit to my post.