Colorado Tax credit for Nissan leaf lease

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ashp

Member
Joined
Dec 5, 2012
Messages
10
Anybdy claimed colorado tax credit for Nissan Leaf lease ?
and if so what documentation you submitted ?
 
I also am very curious about the tx credit, is it the full 6000 and what was it on a lease, from what I understand it is prorated for a lease.
 
No, the tax credit isn't the full $6000 thanks to some weird calculations by the Department of Revenue. Yes, with a lease the amount of the credit is further limited by the capitalized cost of the car during the lease period.

For more information about the Colorado tax credit please take a look at FYI Income 67 Innovative Motor Vehicle and Alternative Fuel Vehicle Credits. If you want to read the actual law check out my post: CRS 39-22-516.5. Tax credit for innovative motor vehicles.

There are a number of Colorado threads that discuss the tax credit subject if you would like to read the previous discussions on the subject.
 
So reading the form on the 12/12 version of the Innovative Tax Credit FYI Income 67, it says:

For qualifying vehicles leased on or after January 1, 2012, the credit is only available to the lessee and is not allowed to the lessor.

but on the 2/12 form it didnt say this. Has anyone run into this issue on a 2013 lease on a leaf? This would make me not lease the car, unfortunately.
 
never mind, so much legal jargon I became confused as to who was the lessee and the lessor haha.
 
So has anyone had their CO taxes processed that had a rebate?

Mine have been sitting there since Feb. They did need proof that I bought my leafs and I sent in my bill of sales in late Feb.

I assume the Leaf rebate triggered a manual review.
 
AndyLL said:
So has anyone had their CO taxes processed that had a rebate?

Mine have been sitting there since Feb. They did need proof that I bought my leafs and I sent in my bill of sales in late Feb.

I assume the Leaf rebate triggered a manual review.

I didn't get my tax return sent until April 15 so it hasn't been processed yet. However, per their requirement I included a copy of the bill of sale, with the cost and residual very clearly circled, and a copy of the Colorado registration. In retrospect I should have also included a copy of the Excel sheet I used for the calculation just to make it 100% clear.
 
Viktor said:
So - whats the final answer? Whats the rebate for CO on the leased Leaf?

The tax credit was renewed and revised, with the changes discussed in this post:

http://www.mynissanleaf.com/viewtopic.php?f=27&t=12846&p=293036&hilit=colorado#p293036" onclick="window.open(this.href);return false;

In short, the purchase credit the LEAF is now more in most cases - now often the entire $6k. The lease credit for the LEAF is less in most cases, but still usually over $1k.

And I did receive my Colorado tax refund from 2012 ... would not have been a refund except for the LEAF lease credit.
 
We own a 2013 Nissan Leaf and are tax professionals who know this credit well. Call Rich at 303-819-5373 to discuss any questions you might have. Our website is http://www.krdtax.com" onclick="window.open(this.href);return false;.
 
We applied and got a substantial rebate. There is a schedule under alternative and renewable fuel vehicles on the state of Colorado website.
 
Oliverovan said:
We applied and got a substantial rebate. There is a schedule under alternative and renewable fuel vehicles on the state of Colorado website.
As cgaydos mentioned upthread, the tax credit law was changed recently by the legislature and is quite different from the 2012 version. The discussion about the new EV related laws in Colorado is here:

http://www.mynissanleaf.com/viewtopic.php?f=27&t=12846&p=293036" onclick="window.open(this.href);return false;
 
Trying to file my 2013 taxes. My preparer says I need written documentation from Nissan stating that they are transferring the claim to the Colo rebate to me. (Lessor to lessee). Has anyone else done this? I guess the state needs to be sure Nissan and I are not both claiming the rebate.
 
Swoosh said:
Trying to file my 2013 taxes. My preparer says I need written documentation from Nissan stating that they are transferring the claim to the Colo rebate to me. (Lessor to lessee). Has anyone else done this? I guess the state needs to be sure Nissan and I are not both claiming the rebate.

I absolutely did NOT include this with my 2012 Colorado taxes and had no problems getting the credit for my LEAF lease. First time I've heard of this. Your tax preparer may be being overly cautious. In fact, I'd bet money on it. The current version of Colorado Tax Publication 67 (Google those terms) is very clear about leases (once you work through the formula details). Nissan's lease company (NMAC) is not claiming Colorado tax credits on their leased LEAFs.
 
Just saw a used LEAF advertisement on Craigslist that seemed unbelievable to me, so I went back to Publication 67 and verified. The advertisement was right. If you buy a used LEAF from out of state and register it in Colorado for the first time you get 24% of the car price as a state tax credit.

24%. For a $15k used car that would be a $3,600 tax credit. And unlike the Federal credit, you get all of it regardless of income and will get it as a refund the same year you file your taxes.

Needless to say, if I'm in Colorado and looking at LEAFs this gives me a very strong incentive to look at nearby states for used models. Shipping from, say, Houston to Denver is about $750. Of course, for a used LEAF I'd probably look at states with colder climates.
 
cgaydos said:
...Needless to say, if I'm in Colorado and looking at LEAFs this gives me a very strong incentive to look at nearby states for used models. Shipping from, say, Houston to Denver is about $750. Of course, for a used LEAF I'd probably look at states with colder climates.
I'm hoping that used Tesla prices come down in a few years (they are almost the same as new prices currently). With a Tesla one could buy it anywhere in the country and just drive it home. It would be impractical for me to qualify for the federal tax credit again, so that makes used EVs more attractive, especially with the Colorado tax credit applying to out-of-state used cars.
 
dgpcolorado said:
cgaydos said:
...Needless to say, if I'm in Colorado and looking at LEAFs this gives me a very strong incentive to look at nearby states for used models. Shipping from, say, Houston to Denver is about $750. Of course, for a used LEAF I'd probably look at states with colder climates.
I'm hoping that used Tesla prices come down in a few years (they are almost the same as new prices currently). With a Tesla one could buy it anywhere in the country and just drive it home. It would be impractical for me to qualify for the federal tax credit again, so that makes used EVs more attractive, especially with the Colorado tax credit applying to out-of-state used cars.

Good point. Occasionally I check used Tesla prices and those darn cars seem to retain value extremely well, but perhaps that will change now that so many are being sold.

Remember that the 24% credit hits the limit of $6k, though (not a factor on a used LEAF, but likely would be on a used Tesla).
 
cgaydos said:
...Remember that the 24% credit hits the limit of $6k, though (not a factor on a used LEAF, but likely would be on a used Tesla).
Yes. But that $6k will help with what would be a hugely expensive purchase! But the idea of going to only one car and having it be an EV — no more ICE car ever again! — is a mighty attractive prospect, if only I could figure out how to swing it. That's the holy grail of EV ownership, and not remotely possible with the LEAF, for rural folks like me.

I just hope that Tesla survives as a going concern. The supercharger network is a paradigm shift in EV utility IMHO.
 
Instead of starting a whole new thread I figured I would ask in here. Has anyone purchased the vehicle either during the lease or at lease end? If you did were you able to claim any additional tax credits? Reading the Income 67 document I don't see anything related to this. The document only mentions the inability to claim it if a prior owner has already claimed it. But in this case there would be no prior "owner" besides you that have claimed anything. Thoughts?
 
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