What is it?
The State of Colorado recently passed a bill which provides a 50% tax credit to organizations who provide alternative transportation options to their workforce.
Why?
The tax credit’s purposes are to increase the use of alternative transportation, reduce traffic congestion and improve the state’s air quality.
What qualifies?
Expenses related to programs or infrastructure to support anything other than driving alone.
including:
What's in it for you?
In addition to being good for our environment, it’s also good for your business:
- Attract and retain the best employees. Surveys show people want to work for employers that support commute options!
- Expand your corporate social responsibility program and demonstrate your business is both sustainable and innovative.
- Enhance your employee benefit offerings, and receive a tax credit for doing so!
Learn more about Colorado Clean Commute:
https://waytogo.org/colorado-clean-commute
Resources
Alternative Transportation Options Tax Credit - Colorado Department of Revenue
Guidance Document from the Colorado Department of Revenue
Alternative Transportation Options Credit Reporting Template
FAQ
CLICK HERE TO LEARN MORE
Tax Credit Example:
RTD EcoPass
Let our team keep you up to date on all the latest changes for House Bill 1026: