10% tax credits are back for electric motorcycles!

There was a little Christmas present for buyers of electric motorcycles in the year-end spending and tax bills passed by Congress to prevent a government shutdown.

Based on the price of the vehicle, the 10% Federal tax credit applies to any electric 2 or 3-wheeler capable of over 45mph and with at least a 4 kWh battery pack, up to a maximum of $2,500. Which means it applies to most electric motorcycles, 125cc-equivalent scooters and 3-wheelers! So if you buy a $15.000 electric bike, you get a $1,500 tax credit. This tax credit had expired at the end of 2013, and the new Federal law is retroactive for any bike bought in 2015 and will also apply to any purchase made in 2016.

Furthermore, the bill also extends the tax credit to the EV infrastructure, which means that it will also apply to any charging equipment.

Zero and Plug-In America took credit for ensuring that these tax credits were re-instated in this press release: http://www.prnewswire.com/news-releases/zero-motorcycles-helps-deliver-tax-credits-for-electric-motorcycles-300195475.html

This is the best news possible for supporters of electric bikes, after a disappointing year 2015. With several new electric models announced for 2016, we might finally see sales take off.

 

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cleanrider.com
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