The Brammo Buying Experience > Taxes, Incentives, Advantages

Colorado, revisited

(1/3) > >>

Brammofan:
I just posted this on Brammofan.com:

Colorado has just approved the Brammo Enertia as eligible for the state’s Alternative Fuel Tax Credit.  Although it doesn’t show up yet on their online document as an approved vehicle, the State said in a recent email:


--- Quote ---Thank you for all the information on your electric motorcycle. It appears to qualify for the Colorado Alternative fuel tax credit.  I show the incremental price difference to be $3,495.00 your vehicle would qualify under category 1 so would be entitled  to an 85% credit. $3,495x.85= $2,971.00 minus any federal tax credit available.

--- End quote ---
What does this mean in English (and with real numbers)?

It means that if you buy a Brammo Enertia in Colorado, you will initially hand over the retail price of the bike plus any sales tax (I think Colorado’s State Sales Tax is 2.9%, but I’m going to leave all the taxes out of these articles because different cities and counties have their own sales taxes, and, frankly, I’ve got better things to do than to chase down local tax rates.  Better things, like…um… Hey… do your own homework.)  Speaking of homework . . .

Disclaimer: Don’t get your tax or other financial advice from anyone whose online name ends in -fan.  This means: do your own homework on this purchase.  I’m just trying to get you to think.

Colorado by the numbers:

$7995 – Retail price of Brammo Enertia

-$799 – Federal Tax Credit

-$2971 – Colorado Tax Credit

____________________

$4225

Okay, so that’s not quite as good as the $2700 figure I came up with the first time I wrote about this issue, but that’s what you get for trusting the advice of a man who chose his profession because he couldn’t stand the sight of blood and because he didn’t “do” numbers.

Still, $4225 is nothing to sneeze at.

In the current tally of SIWIBABE (States in which I’d buy a Brammo Enertia) here’s the rundown:

Oklahoma: $4059

Colorado: $4225

Illinois: $4240

California: $5834

On some of these, I added things like a “delivery charge” and some fees here and there, but this is just for comparison purposes, anyway.  I’ve never considered moving to Oklahoma before, but given that my home state of Missouri offers exactly zilch in the area of alternative vehicle incentives, it might be worth at least making a friend with a Sooner.

Bishop:
So beyond all concerns about release dates, and performance/efficiency numbers with regards to the Empulse, the deciding factor for surely all Empulse early adopters is going to price. 

Surely Brammo has targeted those states where tax credits are high like Colorado, because huge state and federal discounts make the decision to buy much easier.

When the Empulse's release day comes in Colorado, what do we know specifically about the Empulse?  Surely there have been some definitive research at Brammo giving specific estimates when it comes to Colorado's Alternative Fuel Tax Credit and how it will work with the Empulse.

If these estimates exist, could we see them? Are they comparable to the savings we currently see on the Enertia?  Will a 6.0 cost $6,000?  Less?  Will it even be approved for the Alternative Fuel Credit?

How Colorado's tax credit will work specifically with the Empulse I think will be the deciding factor for many in the state.

Jay-Fazed:
i dont want to sound dumb here...BUT. Can someone help me with understanding the tax credit. Does it work like the New home owner credit? As far as you get it on your income tax return? If so I assume you would get the credit on your state return correct? Im just trying to plan ahead. Im from FL but i live in CO(Military) and if the credit only applys to State residents ill just change my residency. Plan on getting out of Military actually and live in CO. And not that it matters but I will be recieving an Honorable Discharge! ;D 6yrs is up and im ready to try something else out.

Brammofan:
Hey, there are no stupid questions here, except for the one about whether a dogs mouth is cleaner than a human's mouth.

Your answers can be found in this helpful document on the Colorado Department of Revenue site.

And yes, the Colorado credit would be applied to your taxes for the year you buy the bike, so it would reduce the amount of state income tax you would have to pay by whatever the amount of the credit turns out to be. 

Oh, and thank you for your service!

Jay-Fazed:
Thanks for the link! You guys are real helpful and friendly around here. I like this forum already.

Navigation

[0] Message Index

[#] Next page