First, here's a link to the the "FYI Income 9 Alternative Fuel Income Tax Credits" for the State of Colorado (2011)-- http://www.colorado.gov/cs/Satellite?bl ... inary=true
Second, I personally find the language of the document to be ambiguous. Here's how I'm reading the document above -- though I'm hoping someone who's better at translating legalese and better at math than I am might be can set me straight if I'm reading it wrong, which I could well be.
According to the document -->
"The credit is a percentage [85%] of: a) The difference between the cost of the vehicle and the cost of the same or most similar vehicle that uses a traditional fuel."
I would say a Nissan Versa is the most similar vehicle that uses a traditional fuel -- but who knows, maybe the State of Colorado will say the most similar vehicle is a Toyota Prius. How they make this "similarity" determination, I do not know.
In any case, an entry level Versa = about $11,000. That's a helluva lot less than the approximately $28,000 for a 2012 LEAF SV, post Federal Tax Credit., actually about $16,000 less (I'm rounding numbers here).
The way I'm reading this document, you're eligible for a tax credit of 85% of the difference.
$16,000 x .85 = $13,600
Now, even if the rules are such that the $7,500 federal tax credit gets lopped off the sticker price AND must ALSO be subracted from the total tax credit eligibility I've calculated above, you still have -->
$13,600 - $7,500 = $6,100
And, according to the language in the Colorado Dept. of Revenue document above, you can carry that tax credit across multiple tax years if your total tax liability isn't enough in year 1, 2, etc.:
"If the credit allowed exceeds the net tax liability for that year, any excess credit may be carried forward and claimed on future year returns for up to five years until the credit is fully utilized."
So, I'm basically wondering if I'm completely misreading the document above -- clarifications are welcome
-- 2014 LEAF SV, 2-year lease, Feb. 2014 - March 2016
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