Colorado Offers Tax Credits On Used EVs, PHEVs
Shopping for a used PHEV or EV in Colorado? You still may be able to take a tax credit, thanks to the state’s structuring of its EV purchase tax credit.
The credit — up to $6,000 — can be applied to used PHEV or EV purchases so long as it wasn’t claimed already via VIN registration, Green Car Reports says. Though most Colorado-based offerings likely already have the credit cashed-in, out-of-state imports are the biggest beneficiaries.
Per an anonymous source, a Colorado resident could purchase a vehicle registered out-of-state for at least three years after originally leaving the lot, then bring the car back home to register its VIN as used in Colorado, legally claiming the credit on their next tax return in so doing.
According to the publication, the used PHEV/EV credit is the only one of its type in the United States, as the focus of tax incentives is on new vehicles.