Electric Vehicle Offers & Information

Businesses are eligible to receive a Federal Tax Credit for alternative fueling infrastructure including EV charging stations. Tax credits for qualified alternative fueling infrastructure are for up to 30% of the cost to purchase and install the infrastructure. Fueling station owners who install qualified equipment at multiple sites are allowed to use the credit towards each location. Consult with your tax professional to see how these credits apply to your business.

FTA provides grants to local public transit systems, including buses, subways, light rail, commuter rail, trolleys and ferries. Since 1964, FTA has partnered with state and local governments to create and enhance public transportation systems, investing more than $13 billion annually to support and expand public transit services. FTA provides annual formula grants to transit agencies nationwide as well as discretionary funding in competitive processes.

The Bipartisan Infrastructure Law, as enacted in the Infrastructure Investment and Jobs Act, was signed into law by President Biden in November 2021 and is the largest federal investment in public transportation in the nation’s history. The legislation reauthorizes surface transportation programs for FY 2022-2026 and provides advance appropriations for certain programs. The Bipartisan Infrastructure Law authorizes up to $108 billion to support federal public transportation programs, including $91 billion in guaranteed funding.

The Airport Zero Emissions Vehicle (ZEV) and Infrastructure Pilot Program improves airport air quality and facilitates use of zero emissions technologies at airports. Created in 2012, the program allows airport sponsors to use Airport Improvement Program (AIP) funds to purchase ZEVs and to construct or modify infrastructure needed to use ZEVs.

Grant funding must be used for airport-owned, on-road vehicles used exclusively for airport purposes. Vehicles and infrastructure must meet the Federal Aviation Administration's Airport Improvement Program requirements, including Buy American requirements.

Consumers who purchase qualified residential charging equipment may receive a tax credit of 30% of the cost, up to $1,000.

A federal tax credit is available for new and used electric vehicles that meet requirements specified in Internal Revenue Code Section 30D.

New Vehicle Clean Credit up to $7,500.
You may qualify for a credit up to $7,500 if you buy a new, qualified plug-in EV. The Inflation Reduction Act of 2022 changed the rules for this credit for vehicles purchased from 2023 to 2032. Information about new vehicles purchased in 2022 and before or for vehicles purchased in 2023 and after.

Used Vehicle Clean Credit up to $4,000.
Beginning January 1, 2023, if you buy a qualified used electric vehicle (EV) from a licensed dealer for $25,000 or less, you may be eligible for a used clean vehicle tax credit. The credit equals 30% of the sale price up to a maximum credit of $4,000. Additional Details.

The credit is nonrefundable, so you can't get back more on the credit than you owe in taxes. You can't apply any excess credit to future tax years.

Starting in January 2024, an Inflation Reduction Act provision allows consumers to transfer the tax credit to car dealers, reducing the purchase price of eligible new and used vehicles at the time of sale.

Colorado taxpayers are eligible for a state tax credit of $5,000 for the purchase or lease of a new EV on or after July 1, 2023 with a manufacturer’s suggested retail price (MSRP) up to $80,000. Lease agreements must have an initial term of at least two years. Beginning January 1, 2024, Coloradans purchasing an EV with an MSRP up to $35,000 will be eligible for an additional $2,500 tax credit.

The Vehicle Exchange Colorado (VXC) program helps income-qualified Coloradans recycle and replace their old or high-emitting vehicles with electric vehicles (EVs). The VXC rebate will partially cover the upfront cost of the EV at the time of purchase or lease from an authorized automobile dealer.