Author Topic: Getting the Colorado Electric Vehicle Tax Credit  (Read 1049 times)

Slow2FIRE

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Getting the Colorado Electric Vehicle Tax Credit
« on: March 12, 2017, 10:06:43 PM »
Is anyone familiar with the new method of getting the tax credit?

From what I can tell, you purchase the vehicle and the financing company takes the tax credit directly (if you choose to let them) instead of you taking the tax credit.  Plus it is a flat $5000 for any electric light duty vehicle.

We live part time in Arizona and part time in Colorado and are considering purchasing a Prius Prime 2017.  If we can acquire one with Federal and Colorado incentives, we get a $9500 discount on the price of the vehicle.

Right now we are living in Arizona and have all our mail forwarded to AZ from our CO address.  Will we have any problems with flying up to CO, purchasing a vehicle, driving it down to AZ, then flying back up to CO when we receive our notice to register the vehicle?  The potential issues I see:
1.  I assume I will need to use my CO address and cannot do this with my AZ address.  We are home owners in CO.
2.  Will they forward these DMV registration papers?
3.  Will the process of papers being mailed and forwarded be timely enough to get back to CO for registering the vehicle?
4.  Will I need to file any additional paperwork with my part-year CO resident tax forms?
5.  Anything else I need to consider?