BREAKING: New CT deal for Colorado residents only in 2024

[awhehackeur]

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[Deleted member 17810]

https://tax.colorado.gov/sites/tax/files/documents/ITT_Innovative_Truck_Credit_Jun_2023.pdf

 

[M0unt41nm4n]

Be clear on this.... this does NOT appear to apply to a FS.

(a.3) Limitation on credit. No CREDIT IS ALLOWED FOR A PURCHASE​

OR LEASE MADE ON OR AFTER JULY 1, 2023, BUT BEFORE JANUARY 1, 2029,​

OF A CATEGORY 1 VEHICLE THAT EXCEEDS A MANUFACTURER'S SUGGESTED​

RETAIL PRICE OF EIGHTY-THOUSAND DOLLARS.​

Also from the Feds:

The vehicle's manufacturer suggested retail price (MSRP) can't exceed:​

• $80,000 for vans, sport utility vehicles and pickup trucks

<SNIP>​

​

Your modified adjusted gross income (AGI) may not exceed:​

• $300,000 for married couples filing jointly
• $225,000 for heads of households
• $150,000 for all other filers

So it may be rather tough to get these on FS series vehicles. You may have to wait for the non-FS to make this work provided you don't make too much money ?

UPDATE: The full Colorado law is here:

https://tax.colorado.gov/sites/tax/files/documents/ITT_Innovative_Truck_Credit_Feb_2024.pdf

There is no $80K price qualification as far as I can tell for Colorado, only for the IRS. Looks like that was removed under the HB. But unfortunately the FS for the IRS won't apply.

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