$2,500 Federal Tax Credit For Electric Motorcycles Is Back!
The federal tax credit for two and three wheel plug-in electric motorcycles is back, just in time to apply for all purchases in 2015, and will stay around in 2016.
The news of the 10% tax credit (up to $2,500) resurrection after it disappeared in 2013 was announced by Zero Motorcycles:
“The tax credit was included in the “last minute” tax extenders bill approved by Congress on Friday and signed into law by President Obama that afternoon.
Zero Motorcycles took the lead in working with Plug-In America and a coalition of other electric motorcycle companies to ensure the plug-in tax credit would be extended and include electric motorcycles. Standing together with companies coast-to-coast, the coalition rallied Congress to take action and expand green jobs in this exciting and emerging industry. Zero Motorcycles dealers, customers and fans weighed in as well, urging Congress to support the extension of the plug-in tax credits.”
Tax credit is available on all Zero Motorcycles models and we believe that most other models on the market including Victory Empulse TT, latest Alta Motors Redshift, Lightning, Energica and more (provided top speed is at least 45 mph and battery is at least 4 kWh).
Richard Walker, CEO of Zero Motorcycles said:
“Tax credits for electric motorcycles are not only an effective way to create jobs, they are also an investment in clean energy technology. We think that America can and should lead the world in electric motorcycle technology. The electric motorcycle industry is rapidly responding to our country’s need for affordable and environmentally responsible transportation. We’re naturally excited to combine our passion for motorcycles with something that benefits everyone.”
Details from Zero press release:
“After many months of consistent work with Congress, two major plug-in tax credits, including the 2-3 wheeled plug-in tax credit which had expired at the end of 2013, were extended as part of the final tax extenders legislation signed by President Obama. The signed bill includes the following provisions:
- Extends the EV infrastructure tax credit from the beginning of 2015 until the end of 2016.
- In the case of the 2-3 wheeled plug-in tax credit, this covers 10 percent of the purchase price, up to $2,500 maximum, and applies only to vehicles capable of over 45 mph and with a 4 kilowatt-hour or larger battery pack. The 2016 Zero S, Zero SR, Zero DS, Zero DSR, Zero FX and Zero FXS all qualify for the incentive.
- These tax credits are retroactive and apply to electric motorcycles and EV chargers purchased in 2015. All new Zero models purchased in 2015 or 2016 are eligible for the tax credits.”