While the Obama administration is proposing a tax credit increase from $7,500 to $10,000 on alternative-energy vehicles for consumers in the near future, the state of Colorado is one-step ahead.
In addition to the federal tax credit of up to $7,500, Colorado is now offering residents who purchase or lease a new Chevrolet Volt a state tax credit of up to $6,000 for a total price reduction of as much as $13,500.
The Volt is priced from $39,145. If you include the $13,500 federal and state tax credits, the cost drops down to $25,645 for Colorado buyers.
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