Colorado Tax Credit Aims to Drive Greener Commuting Options

The Colorado Department of Revenue is drafting guidance for a first-in-the-nation refundable tax credit designed to encourage employers to offer eco-friendly commuter transportation options.

The department is developing a form that will allow employers to file plans with the state under the Alternative Transportation Options Tax Credit program, which launches on Jan. 1, 2023. More rules will be drafted in the new year establishing a process for employers to claim the credit for the 2023 tax year, department spokesman Daniel Carr said.

States, municipalities, and the federal government have encouraged alternatives to single-occupancy vehicle options through pre-tax deductions ...