mountaineer
Well-known member
If you bought a 2013 Ford Focus Electric in 2012, the old rules apply, and you or your tax advisor must calculate the allowable Colorado tax credit from the manufacturer's incremental price, which is unpublished. I have just obtained it from Ford, and it is $14,304 for that year and model.
You will need to know this because the recently updated Colorado Income 67 brochure does not include precalculated tax-credit values for any Ford or Mercury electric vehicles after 2011. I have been trying for over a year to get Colorado Department of Revenue to catch up on its paperwork, to no avail.
My lay interpretation of the instructions in that brochure -- I am not a tax advisor, accountant, or lawyer -- is that the calculation is to subtract any Federal tax credit you got (presumably $7,500) from $14,304, take 75% of the result of that, and you then have your Colorado tax credit, not to exceed $6,000.
If you bought a FFE in 2013, you can opt to use a simpler and probably more favorable rule that doesn't require you to know the incremental price, and if you buy it in 2014 (to, I think, 2016), you must use that new rule.
You will need to know this because the recently updated Colorado Income 67 brochure does not include precalculated tax-credit values for any Ford or Mercury electric vehicles after 2011. I have been trying for over a year to get Colorado Department of Revenue to catch up on its paperwork, to no avail.
My lay interpretation of the instructions in that brochure -- I am not a tax advisor, accountant, or lawyer -- is that the calculation is to subtract any Federal tax credit you got (presumably $7,500) from $14,304, take 75% of the result of that, and you then have your Colorado tax credit, not to exceed $6,000.
If you bought a FFE in 2013, you can opt to use a simpler and probably more favorable rule that doesn't require you to know the incremental price, and if you buy it in 2014 (to, I think, 2016), you must use that new rule.
