Colorado Tesla Buyers Get $42,083 Tax Rebate

03/18/2010 05:12 am ET | Updated May 25, 2011

Just in time for the new Tesla dealership in Boulder, the state of Colorado is offering a jaw-dropping head-scratching tax rebate on "alternative fuel vehicles"--to the tune of $42,083 for a new Tesla Roadster.

How is this calculated? reports:

Colorado has been giving tax credits for alt-fuel vehicles for years, with the bigger ones going to "zero emissions vehicles" (at the tailpipe, anyway).

What they do is they calculate the difference in cost between the [Tesla Roadster] and "a comparable liquid-fuel automobile", in this case the gas-powered Lotus, and the tax credit is 85% of that price difference.

Since the Tesla is so much more expensive than the Lotus, this ends up being quite a lot of money ($42k). recommends:

If you're not in the market for a high performance electric sports car, there are numerous cars on the list eligible for various amounts of money back. Another of the more interesting cars eligible for a large chunk of change back is the Lexus LS 600hL. The large-luxury hybrid is eligible for $20,392 in rebates.

More detailed information regarding the tax credit can be found at the Colorado Taxpayer Service Division.

If you're interested in the rebate, act fast: the special credit is slated to expire on December 31st.

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