Colorado EV Tax Credit

In Colorado, individuals can benefit from tax credits when acquiring or leasing new electric vehicles (EVs) and plug-in hybrid electric vehicles. Residents qualify for a state tax credit of $5,000 for the purchase or lease of a new EV starting from July 1, 2023, with a manufacturer’s suggested retail price (MSRP) up to $80,000. Lease agreements must span a minimum of two years. From January 1, 2024, onwards, Coloradans purchasing an EV with an MSRP up to $35,000 will be eligible for an additional $2,500 tax credit.

To explore a comprehensive list of fully electric and plug-in hybrid electric vehicles, please visit the Alternative Fuels Data Center’s Alternative Fuel and Advanced Vehicle Search.

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