Colorado Innovative Motor Vehicle Credit

Innovative Motor Vehicle Credit
DR 0617 2023 Innovative Motor Vehicle and Truck Credits Tax Year
DR 0617 (09/01/23)
COLORADO DEPARTMENT OF REVENUE
Tax.Colorado.gov

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Innovative Motor Vehicle Credit and Innovative Truck Credit
Tax Year 2023 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 or truck. You must complete a
separate DR 0617 for each qualifying motor vehicle or truck
for which you are claiming a credit.
Credits are allowed only for purchases or leases of new
qualifying motor vehicles and trucks. Used motor vehicles
and trucks do not qualify for the credit. Prior to completing
this form, please review Department publications Income
Tax Topics: Innovative Motor Vehicle Credit and Income Tax
Topics: Innovative Truck Credit, both of which are available
online at Tax.Colorado.gov/current-guidance-publications .
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.
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.

Taxpayer Information
Enter your name and account number (social security
number (SSN), individual taxpayer identification number
(ITIN), federal employer identification number (FEIN), or
Colorado account number).
Check the applicable box to indicate whether you are a
financing entity claiming a credit assigned to you by the
purchaser or lessee. A financing entity must include a
copy of the signed election statement (DR 0618) for each
purchaser or lessee and a DR 0617 for each qualifying
motor vehicle or truck with their return.
Check the applicable box to indicate whether you are a
transportation network company (TNC), a third-party vehicle
supplier contracting with a TNC, or a financing entity to
which a credit was assigned by a TNC or TNC contractor. If
you checked yes, please provide the TNC’s Public Utilities
Commission (PUC) number. Information about TNCs is
available on the PUC’s website at PUC.Colorado.gov/tnc .
TNCs use a digital network to connect riders to drivers for
the purpose of providing transportation.

Motor Vehicle or Truck Information
Note: If all information is not completed under the section
for Motor Vehicle or Truck Information, there will be delays

in processing your return and your credit may be denied.
For trucks, the gross vehicle weight rating (GVWR) is
required in order to determine the allowable 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 qualifying motor vehicle or truck.
Line 5. Enter the manufacturer’s suggested retail price
(MSRP). No credit is allowed for any motor vehicle with an
MSRP over $80,000 that is purchased or leased on or after
July 1, 2023. This limitation does not apply to qualifying
trucks or light-duty passenger vehicles with a GVWR over
8,500 lbs. that qualify for the innovative truck credit.
Line 6. Enter the gross vehicle weight rating (GVWR) for
the qualifying motor vehicle or truck. A motor vehicle’s or
truck’s GVWR is the value specified by the manufacturer
as the maximum loaded weight of a single or a combination
(articulated) vehicle, or its registered gross weight,
whichever is greater. The GVWR of a combination
(articulated) vehicle, commonly referred to as the “gross
combination weight rating” or “GCWR” is the GVWR of the
power unit plus the GVWR of any towed unit.”
Line 7. Vehicle Type. Indicate the type of motor vehicle or
truck for which a credit is being claimed. You may only mark
one checkbox per form. For additional information about
vehicle types, please see Department publications Income
Tax Topics: Innovative Motor Vehicle Credit and Income Tax
Topics: Innovative Truck Credit, both of which are available
online at Tax.Colorado.gov/current-guidance-publications .
•	 Electric Motor Vehicles are electric or plug-in
hybrid electric motor vehicles with a GVWR of
8,500 lbs. or less.
•	 Light-Duty Passenger Motor Vehicles are
electric and plug-in hybrid electric vehicles
with a GVWR over 8,500 lbs., including vans,
capable of seating twelve passengers or less,
but excluding motor homes and motor vehicles
designed to travel on three or fewer wheels in
contact with the ground.

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DR 0617 (09/01/23)
COLORADO DEPARTMENT OF REVENUE
Tax.Colorado.gov

•	 Light-Duty Electric Trucks (for commercial
vehicles only) are electric and plug-in hybrid
electric trucks with a GVWR more than 8,500 lbs.
but less than or equal to 10,000 lbs. Do not check
this box for any light-duty passenger motor vehicle.
•	 Medium-Duty Electric Trucks are electric and
plug-in hybrid electric trucks with a GVWR greater
than 10,000 lbs. but less than or equal to 26,000 lbs.
•	 Heavy-Duty Electric Trucks are electric and
plug-in hybrid electric trucks with a GVWR greater
than 26,000 lbs.
Line 8. Enter the date (mm/dd/yyyy) the qualifying motor
vehicle or truck was purchased or leased. If you took
possession of the motor vehicle or truck on a different date
than you entered into an agreement to purchase or lease
the motor vehicle or truck, enter the date on which you took
possession of the motor vehicle or truck.

Line 9. Check the applicable box to indicate whether the
qualifying motor vehicle or truck was purchased, leased,
or leased by a transportation network company or a thirdparty supplier.
A lease must be for a term of at least two years to qualify
for the credit. You may only mark one check box on line 9.
Line 10. Use Table 1 to determine the amount of your
credit and enter the corresponding dollar amount on line
10. Transfer this amount to the appropriate income tax form
where requested.
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.

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 10 of the form.
Credit Amount:
Vehicle
Category
Vehicle Type
Gross Vehicle Weight Rating (GVWR)
Purchase
Electric Vehicle or Plug-in Hybrid
1
Electric Vehicle (purchased or
8,500 pounds or less
$2,000
leased prior to July 1)
Electric Vehicle or Plug-in Hybrid
Electric Vehicle with an MSRP
1
8,500 pounds or less
$5,000
of $80,000 or less (purchased or
leased on or after July 1)

7

Electric Truck or
Plug-in Hybrid Electric Truck

Vehicle
Lease
$1,500

$5,000

Light-Duty Passenger Motor Vehicles with
GVWR greater than 8,500 lbs.

$2,000

$1,500

Light-Duty Truck (for commercial vehicles only)
(8,501 – 10,000 lbs. GVWR)

$2,800

$1,750

Medium-Duty Trucks
(10,001 – 26,000 lbs. GVWR)

$4,000

$2,500

Heavy-Duty Trucks
(greater than 26,000 lbs. GVWR)

$8,000

$5,000

* Please visit our website and review sections 39-22-516.7 and 39-22-516.8, C.R.S. for complete definitions of the vehicle categories listed in the table.

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DR 0617 (09/01/23)
COLORADO DEPARTMENT OF REVENUE
Tax.Colorado.gov
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Innovative Motor Vehicle and Truck Credits
Tax Year 2023
Last Name or Business Name

SSN or ITIN

First Name

Middle Initial

FEIN

Colorado Account Number

Are you a financing entity claiming a credit assigned to you by the
purchaser or lessee?

Yes

No

Are you a transportation network company (TNC), a third-party vehicle
supplier 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.

Motor 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)	

	4

5.	 Manufacturer’s Suggested Retail Price (MSRP)	

	5

6.	 Vehicle or Truck Gross Vehicle Weight Rating (GVWR)	 	6

DR 0617 (09/01/23)
COLORADO DEPARTMENT OF REVENUE
Tax.Colorado.gov
Page 2 of 2

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Name

Account Number

7.	 Qualifying Vehicle Type:

Electric Motor Vehicle

Light-Duty Passenger Motor Vehicles

Light-Duty Electric Trucks
(for commercial vehicles only)

Medium-Duty Electric Truck

Heavy-Duty Electric Truck
8.	 Date of purchase or lease (mm/dd/yyyy):	
9.	 Check box for the type of credit claimed:
a. Purchased
b. Leased

	8

c. Long-term lease by a transportation network company or third-party
vehicle supplier contracting with a transportation network company

10.	Use Table 1 to determine the amount of your credit and enter the
corresponding dollar amount on line 10	

	10

You must include this credit schedule for each vehicle or credit with your return.

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