The 10% Federal Tax Credit Is BACK!
Could we have actually gleaned something positive from the recent fiscal cliff nonsense? How about the reinstatement of the 10% Federal tax credit for two wheeled EVs that initially got the axe last year! Yes, its back! Not only for this year, but those who purchased an electric motorcycle last year will get to claim the 10% credit for that tax year too. The credit amounts to 10% of the purchase price of a two wheeled, 45mph+ capable, electric motorcycle (with 4kWh or larger battery). All 2012 and 2013 Brammo and Zero motorcycles will qualify for the credit.
The credit will help take the bite out of electric motorcycles purchase price making them even more competitive to their ICE powered counterparts:
Be sure to thank Senator Wyden (D-OR) for his efforts in getting this credit reinstated.
On a sadder note the very generous Colorado state tax rebate no longer applies to electric motorcycles. No reason was given for the policy change. This leaves Georgia as the most generous state for electric motorcycle tax incentives with a Zero Emission Vehicle (ZEV) tax credit of 20% (Limit of $5000). Complete details can be found here: www.afdc.energy.gov