What is the Innovative Motor Vehicle Credit?
You may qualify for the Innovative Motor Vehicle Credit if you purchased, leased, or converted a vehicle in 2018 that meets one of the following criteria:
- It is an electric, plug-in hybrid electric, or gasoline-electric hybrid motor vehicle.
- It is a compressed natural gas, liquefied petroleum gas, liquefied natural gas, or hydrogen motor vehicle.
- It is a hydraulic hybrid truck conversion.
- It is a clean fuel refrigerated trailer.
- It is modified to include idling reduction technology.
- It uses aerodynamic technologies.
Please read Colorado Income Tax FYI Publication Income 69
to make sure your vehicle qualifies for this credit. The vehicle must be titled and registered in Colorado.