Colorado DOR Issues Information on Innovative Truck Income Tax Credits

The Colorado Department of Revenue (DOR) July 1 issued information on innovative truck credits for corporate income and individual income tax purposes. The state allows innovative motor vehicle and innovative truck credits for the purchase, lease, or conversion of motor vehicles, trucks, and trailers that use certain alternative fuels. The DOR provided information on: 1) credits for trucks that run on compressed natural gas, liquefied natural gas, or liquefied petroleum gas; 2) credits for idling reduction and aerodynamic technologies; 3) qualifying trucks, conversions, and devices and trucks that don’t qualify; 4) the determination of credit amounts and the claiming process; ...