A Whopping Incentive
If the Guinness Book had a record for the largest vehicle incentive, Colorado’s tax credit for the Tesla Roadster would merit the title.
Until yearend, Colorado residents who buy the new $109,900 Roadster electric sports car will get back about $42,083 — nearly 40% off the sticker price — from the state.
The incentive, part of a statewide program to promote electric vehicles, offers an income tax credit of up to 85% of the difference between the price of certain alternative-fueled vehicles and the price of an equivalent vehicle running on liquid fuel. In the Roadster’s case, the comparable vehicle is a Lotus.
The Colorado tax credit has been around for a decade, but in most cases residents qualify for smaller discounts. Last year, the state shelled out a combined $12.5 million to 6,727 tax filers. The Colorado Department of Revenue expects fewer than 10 tax filers qualify for the Tesla incentive.
