ElectricMotorcycleForum.com

  • February 18, 2018, 01:49:52 AM
  • Welcome, Guest
Please login or register.

Login with username, password and session length
Advanced search  

News:

Electric Motorcycle Forum is live!

Pages: [1] 2 3

Author Topic: Zero reminding everybody that the tax credit ends 12/31/16  (Read 1433 times)

NEW2elec

  • Hero Member
  • *****
  • Posts: 636
    • View Profile
Zero reminding everybody that the tax credit ends 12/31/16
« on: November 30, 2016, 08:43:37 PM »

Will it be extended? Who knows but it is a factor for anyone on the fence.  I know there are still some 15s and plenty of 16s that are already discounted adding  the 10% credit puts them mostly inline with with some of their gas bike competitors.
Logged

Richard230

  • Hero Member
  • *****
  • Posts: 5085
    • View Profile
Re: Zero reminding everybody that the tax credit ends 12/31/16
« Reply #1 on: November 30, 2016, 09:45:54 PM »

Will it be extended? Who knows but it is a factor for anyone on the fence.  I know there are still some 15s and plenty of 16s that are already discounted adding  the 10% credit puts them mostly inline with with some of their gas bike competitors.

I heard that the federal budget would likely be "rolled over" to sometime early next year.  Does the current IRS law specifically say that the motorcycle EV credit actually expire on 12/31?  If that date is not spelled out in the law then the EV credit might actually continue into 2017, at least until it is killed off by Congress and Trump - both of whom are not big fans of electric propulsion.  (I am not too sure how they feel about wood-burning steam power, though.  ::) )
Logged
Richard's motorcycle collection:  2018 16.6 kWh Zero S, 2016 BMW R1200RS, 2011 Royal Enfield Bullet 500 Classic, 2009 BMW F650GS, 2005 Triumph T-100 Bonneville, 2002 Yamaha FZ1 (FZS1000N) and a 1978 Honda Kick 'N Go Senior.

NEW2elec

  • Hero Member
  • *****
  • Posts: 636
    • View Profile
Re: Zero reminding everybody that the tax credit ends 12/31/16
« Reply #2 on: November 30, 2016, 10:22:53 PM »

Zero's got it posted on their Facebook page so I guess at least they feel it may go away.
Logged

Richard230

  • Hero Member
  • *****
  • Posts: 5085
    • View Profile
Re: Zero reminding everybody that the tax credit ends 12/31/16
« Reply #3 on: December 01, 2016, 04:25:54 AM »

Zero's got it posted on their Facebook page so I guess at least they feel it may go away.

I think they are just covering their bases just in case Congress kills off the IRS credit for EVs.  The way politics are going right now you don't dare bet on anything happening - other than some nutty news every day.  If Congress shuts their eyes and allows the current budget laws to just continue for a few more months (as is predicted by the pundits), the EV credit may continue until someone decides to attack it next year.  But it is also possible that Congress will have so much on their plate then that fooling with the EV credit will be the last thing on their minds.   ;)  Anyway that is my prediction.  :)

BTW, I heard on the national news that Trump and Romney were eating frog legs in front of the public yesterday.   ::)
« Last Edit: December 01, 2016, 04:29:58 AM by Richard230 »
Logged
Richard's motorcycle collection:  2018 16.6 kWh Zero S, 2016 BMW R1200RS, 2011 Royal Enfield Bullet 500 Classic, 2009 BMW F650GS, 2005 Triumph T-100 Bonneville, 2002 Yamaha FZ1 (FZS1000N) and a 1978 Honda Kick 'N Go Senior.

domingo3

  • Full Member
  • ***
  • Posts: 125
    • View Profile
Re: Zero reminding everybody that the tax credit ends 12/31/16
« Reply #4 on: December 01, 2016, 06:58:18 AM »

I'm not a tax lawyer, and I didn't even stay at a Holiday Inn Express last night.  That being said, my understanding is that the tax credit automatically expires at the end of the year and it is not a situation where if Congress does nothing then the tax credit will continue.  New legislation would have to be passed next year to continue it.  Since the starting point of new legislation is often old legislation, it's entirely possible that it will continue.  It's also entirely possible that it will get the axe.  This was one of the many factors that pushed me over the edge into becoming a happy 2016 Zero owner.
Logged
2016 Zero FXS

BrianTRice

  • Unofficial Zero Manual Editor
  • Hero Member
  • *****
  • Posts: 2375
  • Nerdy Adventurer
    • View Profile
    • Personal site
Re: Zero reminding everybody that the tax credit ends 12/31/16
« Reply #5 on: December 01, 2016, 07:16:18 AM »

I think everything you can assume about the US federal government is now forfeit until further notice.
Logged
Zero: 2016 DSR, 2013 DS
Also: 2012 Suzuki DL-650 V-Strom Adv

David S

  • Newbie
  • *
  • Posts: 36
    • View Profile
Re: Zero reminding everybody that the tax credit ends 12/31/16
« Reply #6 on: December 01, 2016, 08:06:07 AM »

anyone know what would happen if i upgraded my 2016 to a 17? i received my tax credit this year for my 16
Logged

Electric Terry

  • Hero Member
  • *****
  • Posts: 666
    • View Profile
Re: Zero reminding everybody that the tax credit ends 12/31/16
« Reply #7 on: December 01, 2016, 08:29:12 AM »

anyone know what would happen if i upgraded my 2016 to a 17? i received my tax credit this year for my 16

So with 2 separate purchases in one year I'm not sure, but I would guess it might cap at $25,000 that is eligible for the 10% credit.  How much was your 2016?  I would take $25,000 and subtract that to start, but ask a tax attorney, perhaps 2 separate purchases resets it.  Not sure.  But if you already got your credit, you must have done it on your 2016 taxes so paid for it before Jan 1, 2016, correct?  I think you're in the clear as long as you get it before 12/31/16 to start over again
Logged
100,000+ all electric miles on Zero Motorcycles - 75,000+ on a 2012 Zero S and 35,000+ miles on a 2015 Zero SR
http://www.facebook.com/electricterry
http://instagram.com/electricterry
https://twitter.com/electricterry

David S

  • Newbie
  • *
  • Posts: 36
    • View Profile
Re: Zero reminding everybody that the tax credit ends 12/31/16
« Reply #8 on: December 01, 2016, 01:22:59 PM »

yes i purchased it in in 2015 and did it on my 2016 taxes. I got around 1600 back i believe.
Logged

mousejstr

  • Newbie
  • *
  • Posts: 17
    • View Profile
Re: Zero reminding everybody that the tax credit ends 12/31/16
« Reply #9 on: December 01, 2016, 08:23:26 PM »

Damn.. I found the tax code and confirmed this expires.  Ugg

Logged

Richard230

  • Hero Member
  • *****
  • Posts: 5085
    • View Profile
Re: Zero reminding everybody that the tax credit ends 12/31/16
« Reply #10 on: December 01, 2016, 09:39:20 PM »

Damn.. I found the tax code and confirmed this expires.  Ugg

Well, that sucks!  :( I don't suppose that the Republican-controlled Congress is going to continue funding the EV credit for any vehicles next year.  If I recall correctly, they were the ones that killed off the 2014 electric motorcycle credit for that year - which fortunately I was able to receive because the IRS hadn't updated their computerized EV credit form before I submitted my credit request in January 2015.  Gotcha! ;D
Logged
Richard's motorcycle collection:  2018 16.6 kWh Zero S, 2016 BMW R1200RS, 2011 Royal Enfield Bullet 500 Classic, 2009 BMW F650GS, 2005 Triumph T-100 Bonneville, 2002 Yamaha FZ1 (FZS1000N) and a 1978 Honda Kick 'N Go Senior.

Electric Terry

  • Hero Member
  • *****
  • Posts: 666
    • View Profile
Re: Zero reminding everybody that the tax credit ends 12/31/16
« Reply #11 on: December 01, 2016, 09:40:50 PM »

yes i purchased it in in 2015 and did it on my 2016 taxes. I got around 1600 back i believe.

So you are good to get it again.  And I was wrong above anyway its not $25000 max, its 10% of $75000 anyway.  But yes it looks like it will expire in 30 days and probably never return is my guess.   I'd say do it if you can.
Logged
100,000+ all electric miles on Zero Motorcycles - 75,000+ on a 2012 Zero S and 35,000+ miles on a 2015 Zero SR
http://www.facebook.com/electricterry
http://instagram.com/electricterry
https://twitter.com/electricterry

NEW2elec

  • Hero Member
  • *****
  • Posts: 636
    • View Profile
Re: Zero reminding everybody that the tax credit ends 12/31/16
« Reply #12 on: December 01, 2016, 09:51:50 PM »

Got an email from Zero stating that the 30% credit for "off board chargers" will expire as well so any of you guys thinking about juice boxes or Bosch or Tesla wall chargers for your house may want to ask Santa for one.
Logged

Low On Cash

  • Full Member
  • ***
  • Posts: 203
    • View Profile
Re: Zero reminding everybody that the tax credit ends 12/31/16
« Reply #13 on: December 02, 2016, 12:00:43 AM »



Trump's on the right track to stop thieves like our friend Elon Musk who made the tax payers finance his shitty Telsa and now sells direct to screw each state out of tax money. I love watching his rockets blow up!
« Last Edit: December 04, 2016, 01:52:18 AM by Low On Cash »
Logged

DynoMutt

  • Full Member
  • ***
  • Posts: 146
    • View Profile
Re: Zero reminding everybody that the tax credit ends 12/31/16
« Reply #14 on: December 02, 2016, 12:32:13 AM »

How does selling direct screw states out of tax money?

The state I live in requires payment of the sales tax when registering the vehicle at the DMV.

I think with a populist president that has come out against the theory of AGW, and a two-chamber congress of the same political party, that EV subsidies will be the least of things on the chopping block.  Expect coal plants to make a comeback with a vengeance, also.
Logged
Pages: [1] 2 3