Coloradans have until Sept. 30 to claim up to $7,500 in tax credits for electric vehicles

Anna Stonehouse/The Aspen Times archivesColoradans have until the end of the month to take advantage of thousands of dollars in federal tax breaks for electric vehicles. The tax credit was approved as part of the Inflation Reduction Act in 2022 and initially set to last through 2032. While the federal incentive ends on Sept. 30, Colorado will continue offering a state-level tax credit for electric vehicles, though the benefit will be considerably smaller next year. Currently, the state’s base tax credit is worth $3,500, but that will decrease to $750 starting on Jan. 1, 2026. More information on the expiring federal tax credit can be found at IRS.gov/clean-vehicle-tax-credits .