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Thread: Colorado State tax credit bonus!
01-09-2006 03:38 AM #1
Colorado State tax credit bonus!
FYI for anyone in Colorado thinking of buying a hybrid. The State income tax credit is very generous, and is in addition to the federal credit. For example, the State credit is $2,936 for an '05 Accord hybrid, $2,306 for a '05 Civic (auto transmission), and $3,285 for a '06 Prius. However, if you are replacing a non-hybrid car and you sell it to someone outside of Colorado (or to a salvage yard), then you State income tax credit increases (to $3,915 for a '05 Accord, $3,075 for a '05 Civic (auto), and $3,865 for a '06 Prius). Combined with the federal credit it really becomes a no-brainer to buy hybrid if you live in Colorado.