Let’s say you really need a little tax deduction to get your 2009 taxes down, and let’s say you also have spare $50K jingling in your pocket.

Now might be a good time to hop in your jet and pop back to your ski vacation home in Colorado and pick up a surefire winner of a green Christmas stocking stuffer: a nice little 2009 Tesla Roadster that runs on electrons. Gasoline cars are just so 20th century.

Colorado is offering a $42,083 state tax rebate on the 2009 Roadster until December 31st.

Colorado has a unique way of figuring the value of EV tax credits. By subtracting the sale price of a comparable gasoline-powered vehicle from the sale price of an alternative-fueled vehicle, that difference in price ends up being the value of the tax credit. In the case of the Tesla Roadster, Colorado has chosen the Lotus Elise—on which the Roadster is based—as the comparable-gasoline powered vehicle. Given that the Roadster is almost $50K more than the Elise, that adds up to one hefty tax credit.

>>Complete list of Colorado tax credits (PDF)

On top of the state tax credit, there is also the Federal tax credit for $7,500, of course.

But if you don’t live in Colorado, not to worry: Colorado isn’t the only state offering lavish EV incentives. Even Oklahoma is offering an electric vehicle tax break that, with the Federal tax break, brings the cost of a Smart4Two knockoff from China waaaay down… to $865. A bargain. [Ed. Note: But it is from China and, it’s looking more and more like China is flexing its newfound economic muscle in a bad way.]

Image: Steve Jurvetson