In time for the Holidays, your government is giving back.
More than 40 states offer some sort of program to support the purchase of electric and hybrid vehicles. There is even a federal tax credit available, but until recently, it was limited to vehicles bought before 2018 (so until the end of 2017). Good news everyone! The coverage period has now been extended. If you’ve recently purchased an electric motorcycle or are planning to do so in 2020, you are now eligible for a federal tax credit.
The federal tax credit on electric vehicles now includes motorcycles (and cars) sold in 2018 and 2019 and will also apply to any future sales through the end of 2020. Electric motorcycle buyers will receive a tax credit equivalent to 10 percent of their vehicle’s purchase price for a sum of up to $2,500. So even if you buy a Harley-Davidson LiveWire at $30K+, you are topped at $2,500.
Be aware, however, that this isn’t instantaneous. Don’t expect the dealer to scan a special coupon or to receive a check in the mail in the next five to six business weeks. The tax credit means you get money off whatever amount of dinero you owe the government the year you purchased the motorcycle.
Zero Motorcycles gave itself a little pat on the back following the program’s extension, commenting “We at Zero Motorcycles have long been at the forefront of advocacy for tax incentives for electric motorcycles. Now, with the help from some of Santa’s little helpers, we were part of a coalition that got a massive EV tax incentive included in the new spending bill just signed into law.”
Zero invites its customers to contact their dealer to learn more about the program. Other companies have yet to come forward about this but we can suspect the dealers will be notified and able to provide more information.