The Brammo Buying Experience > Taxes, Incentives, Advantages

Tax Credit Sunset

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Homer Jay:
While I was having my return completed with my accountant, I inquired about the federal tax credit for purchasing a new electric motorcycle.  He was not readily familiar with the incentive, but had a large book, in which he confirmed the 10% tax credit.  Interestingly there was no provision for the tax credit past the year 2011.  Is this what you folks understand?

Brammofan:
I think it expires in December 2011, but I'm hopeful it will be extended.

Harlan:
There is no guarantee that the federal tax incentives will be extended.  Additionally, the $1500 California Rebate has limited funding and with the introduction of the Nissan Leaf there is no guarantee that it will be around at the end of the year either. 

Gavin:
Hollywood Electrics says this in an ad:


With the 10% Federal Tax credit set to expire on December 31 2011, this may be your last opportunity to take advantage of government incentives on an eligible 2011 Zero Motorcycles model.


Is the rebate going away?

Gavin

Phantom:


Technically, the current provision will expire, but I think it will be extended when the new tax laws are due.

This part applies to us:

Plug-In Electric Vehicle Credit (Section 1142): The new law also creates a special tax credit for two types of plug-in vehicles — certain low-speed electric vehicles and two- or three-wheeled vehicles. The amount of the credit is 10 percent of the cost of the vehicle, up to a maximum credit of $2,500 for purchases made after Feb. 17, 2009, and before Jan. 1, 2012. To qualify, a vehicle must be either a low speed vehicle propelled by an electric motor that draws electricity from a battery with a capacity of 4 kilowatt hours or more or be a two- or three-wheeled vehicle propelled by an electric motor that draws electricity from a battery with the capacity of 2.5 kilowatt hours. A taxpayer may not claim this credit if the plug-in electric drive vehicle credit is allowable.

Source: http://www.irs.gov/newsroom/article/0,,id=206871,00.html

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