Colorado’s electric vehicle tax credit is now worth $5,000

Colorado’s electric vehicle tax credit is now worth $5,000

Saturday, July 1, 2023

It’s official: Colorado has the country’s most generous electric vehicle tax credit available to all residents.

On July 1, the state’s incentive jumps from $2,000 to $5,000 for any electric vehicle with a starting price of less than $80,000. Data from the U.S. Department of Energy show that’s larger than any state-level discount on battery-powered cars.

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