Colorado Innovative Motor Vehicle Credit
Extracted from PDF file 2022-colorado-form-dr-0617.pdf, last modified June 2018
Innovative Motor Vehicle CreditDR 0617 (10/19/22) COLORADO DEPARTMENT OF REVENUE Tax.Colorado.gov *DO=NOT=SEND* Innovative Motor Vehicle Credit and Innovative Truck Credit Tax Year 2022 Instructions Use this form to calculate the innovative motor vehicle and innovative truck credit available for the purchase or lease of a qualifying motor vehicle. Please visit Tax.Colorado.gov prior to completing this form to review our publications about these credits. Complete Vehicle Information with the vehicle information for each vehicle before proceeding to Credit for Purchase or Lease of Qualifying Motor Vehicle or Truck. Credit for Purchase or Lease of Qualifying Motor Vehicle or Truck shall be used for the purchase or lease of a qualifying motor vehicle or truck. No credit is allowed for CNG, LNG, and LPG trucks, hydraulic hybrid conversions, idling reduction technologies, aerodynamic technologies, and clean fuel refrigerated trailers purchased, leased, or converted in tax year 2022. You must complete a separate DR 0617 for each purchased or leased vehicle or truck. You must submit the completed form DR 0617, along with copies of the vehicle registration and vehicle invoice, purchase agreement, or lease agreement with the income tax form (DR 0104, DR 0112, etc.) on which you are claiming the credit. If claiming a credit that was assigned to you by a purchaser or lessee, please check ‘Yes’ checkbox. If yes, you must include a copy of the signed election statement (DR 0618) for each purchaser with your income tax return along with a DR 0617 for each credit/vehicle. If you are a transportation network company or are claiming a credit that was assigned to you by a transportation network company, please check ‘Yes’ checkbox. If claiming a credit assigned to you by a transportation network company, you must include a copy of the signed election statement (DR 0618) for each credit/vehicle with your income tax return along with a DR 0617 for each credit/vehicle. If you checked yes, please provide the transportation network company’s Public Utilities Commission (PUC) number. The PUC number is provided by the PUC for commercial carriers of property, excluding household goods, when providing transportation between points. Transportation network companies are companies involved in ride-sharing and other similar activities. Examples of these types of companies are Lyft, Uber, and other similar entities. Vehicle Information Note: If ALL information is not completed in Vehicle Information, there will be delays processing your return and your credit may be denied. For trucks, the vehicle weight rating is required in order to calculate the credit. Lines 1-4. Enter the make, model, model year, and vehicle identification number ( VIN ) to identify the motor vehicle or truck for which the credit is being claimed. Enter the complete and full manufacturer’s name of the vehicle make and model ( for example, “Chevrolet” instead of “Chevy” or “Volkswagen” instead of “VW”. ) If multiple vehicles are eligible during this tax year, you must complete a separate DR 0617 for each purchased or leased vehicle or truck. Line 5. Vehicle Type. Designate which type of vehicle is being claimed. You may only mark one checkbox per form. Refer to FYI Income 69 available at Tax.Colorado.gov for more information. • Passenger Motor Vehicle consists of a private electric or plug-in hybrid electric vehicle, including vans, capable of seating 12 passengers or less (e.g., Chevrolet Volt, Nissan Leaf, Mercedes-Benz B250e), but does not include motorhomes or trucks (e.g., Ford-150). • Light Duty Electric Truck consists of an electric truck with a GVWR of less than or equal to 10,000 lbs but does not include a passenger motor vehicle. • Medium Duty Electric Truck consists of an electric truck with a GVWR greater than 10,000 lbs. and up to 26,000 lbs. • Heavy Duty Electric Truck consists of an electric truck with a GVWR greater than 26,000 lbs. Line 6. Enter the date the vehicle or truck was purchased or leased. Enter mm/dd/yyyy. Line 7. Designate whether the vehicle was purchased new, leased, or long-term leased by a transportation network company by marking the appropriate check box. You may only mark one check box on line 7. Line 8. Use Table 1 to determine the amount of your credit and enter the corresponding dollar amount on line 8. Transfer this amount to the appropriate income tax form where requested. *DO=NOT=SEND* DR 0617 (10/19/22) COLORADO DEPARTMENT OF REVENUE Tax.Colorado.gov Note: For transportation network companies ONLY. If you acquired the category 1 vehicle under a long-term lease with a duration of not less than two years and if the vehicle is offered to transportation network company drivers for short-term rental periods of not more than sixty days, for purposes of the credit use the “Vehicle Purchase” amount in Table 1. Category Table 1. Credit Values for Purchase or Lease of a Qualifying Motor Vehicle or Truck Select and enter the correct amount from this table on line 8 of the form. Credit Amount: Vehicle Type of Vehicle Fuel Gross Vehicle Weight Rating (GVWR) Purchase 1 Electric Vehicle or Plug-in Hybrid Light Duty Passenger Vehicle Electric Vehicle 7 Electric Truck or Plug-in Hybrid Electric Truck Less than or equal to 10,000 pounds Greater than 10,000 pounds but less than or equal to 26,000 pounds Greater than 26,000 pounds Vehicle Lease $2,500 $1,500 $3,500 $1,750 $5,000 $2,500 $10,000 $5,000 * Please visit our website and review §§39-22-516.7 and 516.8, C.R.S. for complete definitions of the vehicle categories listed in the table. *220617==19999* DR 0617 (10/19/22) COLORADO DEPARTMENT OF REVENUE Tax.Colorado.gov Page 1 of 2 Innovative Motor Vehicle and Truck Credits Tax Year 2022 See page 1 for instructions Use this form to claim innovative motor vehicle and innovative truck credits. A separate form must be completed for each qualifying vehicle. Please see the instructions and FYI Income 69, available online at Tax.Colorado.gov before completing this form. Ensure that you are using the correct form for your tax year. Forms and guidance publications for credits that were available in previous tax years are available online at Tax.Colorado.gov. Last Name or Business Name SSN or ITIN First Name Middle Initial FEIN Colorado Account Number Are you claiming an assigned credit from the purchaser or lessee? Yes No Are you a transportation network company (TNC), a third-party contracting with a TNC, or a financing entity to which a credit was assigned by a TNC or TNC contractor? Yes No If you answered yes to the transportation network company question, enter the PUC license number of the TNC in this box. Vehicle or Truck Information 1. Vehicle or Truck Model Year 1 2. Vehicle or Truck Make 2 3. Vehicle or Truck Model 3 4. Vehicle Identification Number (VIN) Electric 5. Qualifying Vehicle Type: Passenger Vehicle 4 Light Duty Electric Truck 6. Date of purchase or lease (mm/dd/yyyy): 6 Medium Duty Electric Truck Heavy Duty Electric Truck *220617==29999* DR 0617 (10/19/22) COLORADO DEPARTMENT OF REVENUE Tax.Colorado.gov Page 2 of 2 Name Account Number 7. Check box for the type of credit claimed: a. Purchased new c. Long-term lease by a transportation network company b. Leased 8. Use Table 1 to determine the amount of your credit and enter the corresponding dollar amount on line 8 8 You must include this credit schedule for each vehicle or credit with your return. 00
DR 0617, Innovative Motor Vehicle and Truck Credits Tax Year 2022
More about the Colorado Form DR 0617 Corporate Income Tax Tax Credit TY 2022
Use this form to calculate the innovative motor vehicle and innovative truck credit available for the purchase, lease, or conversion of a qualifying motor vehicle (including an electric vehicle like a Tesla). Please visit Colorado.gov/Tax prior to completing this form to review our publications about these credits.
We last updated the Innovative Motor Vehicle Credit in January 2023, so this is the latest version of Form DR 0617, fully updated for tax year 2022. You can download or print current or past-year PDFs of Form DR 0617 directly from TaxFormFinder. You can print other Colorado tax forms here.
Other Colorado Corporate Income Tax Forms:
TaxFormFinder has an additional 64 Colorado income tax forms that you may need, plus all federal income tax forms.
|Form Code||Form Name|
|Form DR 0617||Innovative Motor Vehicle Credit|
|Form DR 0900P||Payment Voucher - Partnership & Pass-Through|
|Form DR 0074||Enterprise Zone Pre-Certification for Business|
|Form 106EP||Colorado Composite Nonresident Estimated Tax Payment Form|
|Form 106||Partnership / S-Corporation Pass-Through Entities Tax Booklet|
View all 65 Colorado Income Tax Forms
Colorado usually releases forms for the current tax year between January and April. We last updated Colorado Form DR 0617 from the Department of Revenue in January 2023.
Form DR 0617 is a Colorado Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Colorado Form DR 0617
We have a total of ten past-year versions of Form DR 0617 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
DR 0617, Innovative Motor Vehicle and Truck Credits Tax Year 2022
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