Russ Brown Motorcycle Attorneys®: Tax breaks adding to the incentive to go green in the motorcycle industry.
The big trend in the auto industry nowadays is the shift towards electronic vehicles; what with the big manufacturers pumping out new environmentally friendly automobiles like the Chevy Volt, Nissan Leaf and others transitioning to cleaner engines like Ford’s EcoBoost. Well, as mentioned in previous motorcycle industry blogs, this trend has begun shifting to the motorcycle industry as well and the government has begun to take notice.
The federal government is extending a tax credit program designed to help offset the cost of a plug-in-motorcycle or scooter as price is still the number one hurdle faced when searching for consumer support for these bikes. The credit can offer as much as a 10% tax break on the sticker price of a new electric motorcycle—or a maximum of $2,500.
This is just one incentive that is part of a nationwide program designed to emphasize the good that the E(lectric) V(ehicle) industry can do for the global energy crisis. While the EV industry is only in its infancy relative to the rest of the auto industry, it’s not just the federal government getting into the game. States across the nation have taken notice and have begun implementing incentives of their own to encourage potential motorcycle buyers to go electric.
California for one, has offered a $900 grant to those who purchase an electric motorcycle. The Clean Vehicle Rebate Project, funded by the California Environmental Protection Agency’s Air Resources Board has administered 45.2 million dollars since 2009 to motivate people to go electric. Washington State is on board as well, allowing for a tax exemption for the purchasers of electronic bikes which amounts to excluding the cost of the battery and charging units from the price of the motorcycle—a $4,600 exemption. The purchaser need only pay the remaining cost on the bike. When coupled with the nationwide tax incentive, prospective EV motorcycle purchasers can save up to $7,100 if the buy an electronic bike. Not to be left out, Oregon is chipping in too and not just because their congressman was the one who created the nationwide tax incentive. Private motorcycle buyers receive up to $750 off the cost of the motorcycle, as well as a maximum of $750 off the cost of the battery. The business credit is an exemption of 35% of the cost of the bike; however this option expires in January of 2014, barring a renewal of the bill.
Other states are in on the plan as well, Georgia offers a 20% discount on the vehicle cost for Zero Emission qualified purchases. Colorado, Utah and Maryland also offer some type of incentive program as well to go along with the nationwide program. Other states are sure to capitalize as the benefits of these programs begin to be demonstrated.
This is a great time to investigate purchasing a new electronic motorcycle and to help jump start the transition to a cleaner air space. Be sure to check and see if there are any incentives in your home state and go green!
Russ Brown Motorcycle Attorneys®
Serving motorcycle riders nationwide – Russ Brown Motorcycle Attorney s are one of the most recognized law firms in the motorcycle industry. Motorcycle lawyer Russ Brown, an avid motorcycle activist, has been fighting for bikers rights for over thirty-five years and created BAM, the free emergency roadside and legal assistance benefit card that helps hundreds of motorcyclists throughout the year. Russ Brown Motorcycle Attorneys recently launched a “Keep Me Alive Don’t Text And Drive” Campaign to raise awareness about the ever increasing dangers of texting and driving. Motorcycle accidents caused by distracted driving are on the upswing and Russ Brown Motorcycle Attorneys® want to do everything possible to help prevent such needless crashes.