The State of Colorado has revamped its EV tax credit system, offering buyers of any electric vehicle a $5,000 tax credit on top of the $7,500 already offered by the United States federal government. The revised Colorado EV tax credits are a drop of $1,000, though — under the previous relatively complex formula buyers of Tesla cars (even the upcoming Tesla Model 3) qualified for a $6,000 credit.

Tesla Model S

As noted by Electrek, the tax Colorado credit can also be assigned upfront to the car dealership, lowering the effective purchase price by $5,000 — bringing the Model 3's starting price down to an all-too-reasonable $30,000 (before claiming the $7,500 federal credit at the end of the year). The new tax credit system goes into effect at on January 1, 2017.