Colorado Politics

Fort Collins study highlights electric vehicle expansion in Colorado

For Coloradans looking for a new car, the time to buy electric is now.

“Colorado has the best incentives in the nation for electric vehicle purchases,” said Ben Prochazka, vice president of the Electrification Coalition.

The state offers an income tax credit of $5,000 for those who buy an electric vehicle and $2,500 for those who lease one. Combined with the federal income tax credit of up to $7,500, Coloradans could save up to $12,500 in taxes by buying an electric vehicle.

The only state with a higher credit incentive is West Virginia, which offers buyers an income tax credit of 35 percent of the electric car purchase price, up to $7,500.

Read more at The Gazette.

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