That’s right. Buy a $110,000 Tesla Roadster, and according to the Denver Post, the state of Colorado will give you $42,000 in tax breaks. That’s 85 percent of the premium over a Lotus Elise. Colorado’s alt-fuel and zero-emissions tax credit system gives between 50 percent and 85 percent of the premium over a comparable gas-burning car, but as a zero-emissions vehicle only the Tesla can claim the full 85 percent discount. “Most of them are (Toyota) Priuses and hybrid vehicles,” say CO revenue department spokesfolks. Still, the colossal incentive on the two-seat Roadster was enough for the state legislature to limit discounts to no more than $6,000. But that limit doesn’t go into effect until January. Between now and then though, there’s practically no reason to buy an Elise in Colorado… unless you want to be able to fill up at a gas station. [Hat Tip: Freedmike]
Wow. A lot of well heeled folks have property in Colorado. What a perfect time to purchase a toy like this and register there.
Thank goodness! The Tesla-buying demographic needs all the help they can get. Uncle Sam has been so stingy with the TARP funds that there just isn’t enough to cover purchases of both that crucial 5th home AND an impractical toy car.
You can only get a credit against taxes due/paid, so you would have to “owe” more than 42k in taxes first.
Cant stop thinking of the Fiero every time a see a Tesla Roadster.
The Tesla-buying demographic needs all the help they can get.
Silicon Valley and tech stocks are humming along pretty good, without a penny of TARP.
Yeah, you’d need to earn over $200k/year in Colorado and know that you’re going to continue doing so for the next five years to fully take advantage of this.
I think the real clever use of this would be for *businesses* (assuming the credits apply to them as well), which almost certainly pay enough in taxes for this to be worth it. Buy ’em, then sell ’em out of state.
I’ll take the Elise at even money.
Thanks anyway.
Bunter
The Tesla-buying demographic needs all the help they can get.
Silicon Valley and tech stocks are humming along pretty good, without a penny of TARP.
Even better! People with soaring (paper) net worth need a $42k tax break too. Nice to see the government helping these poor souls get a leg-up.
Little known fact: the Tesla is actually a dual-fuel vehicle, running on both electricity and hundred-dollar bills. The motor initially runs in Benjamin-powered mode while at the dealership to conserve battery life, switching permanently to electric power upon delivery.
Nuts!