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Author Topic: Federal Tax Credit Renewed?  (Read 329 times)

Rugby4life

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Federal Tax Credit Renewed?
« on: December 16, 2017, 08:19:25 AM »

Does anyone know if the new federal budget bill renews the motorcycle tax credit? Everything I've read refers to the car credit but I guess electric motorcycle buyers are too small of minnows to warrant spilling any electronic ink to keep us informed.
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Richard230

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Re: Federal Tax Credit Renewed?
« Reply #1 on: December 16, 2017, 08:39:55 AM »

Does anyone know if the new federal budget bill renews the motorcycle tax credit? Everything I've read refers to the car credit but I guess electric motorcycle buyers are too small of minnows to warrant spilling any electronic ink to keep us informed.

I believe that the federal tax credit for motorcycles was axed a couple of years ago.  :( Don't look for it to have been added back in the new tax bill.  ::) The story was that the Republican-controlled House of Representatives killed off the M/C tax credit because Brammos (at the time) were being made in Oregon and someone had it in for a Senator from that state and just wanted to screw his state over for the fun of it.  Of course, Zero got the same treatment and being made in the "blue" state of California, no Republicans shed a tear.  Things might have been different if Harley was selling electric vehicles, though.  ??? The auto EV credit likely stayed in the law because so many large ($$$) car manufacturers were making, and were planning to sell, electric cars.  Right now I don't think anyone knows if the 4-wheel EV credit remains in the new tax bill.  But if someone told me that it was axed too, I wouldn't be surprised.  ::)
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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.

Rugby4life

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Re: Federal Tax Credit Renewed?
« Reply #2 on: December 16, 2017, 04:49:15 PM »

If that were true why did Zero run a sales promotion this summer offering a 10% rebate if the tax credit was allowed to expire by Congress?
http://www.cyclenews.com/2017/05/article/zero-motorcycle-assures-federal-tax-credit-electric-motorcycles/
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Burton

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Re: Federal Tax Credit Renewed?
« Reply #3 on: December 16, 2017, 05:47:55 PM »

If that were true why did Zero run a sales promotion this summer offering a 10% rebate if the tax credit was allowed to expire by Congress?
http://www.cyclenews.com/2017/05/article/zero-motorcycle-assures-federal-tax-credit-electric-motorcycles/

From the link above
Quote
The previous Electric Motorcycle Federal Tax Credit expired at the end of 2016.
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Rugby4life

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Re: Federal Tax Credit Renewed?
« Reply #4 on: December 17, 2017, 12:42:24 AM »

And the next sentence said there is a push to restore the credit. My question is, were they successful in getting it included in the bill?
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heroto

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Re: Federal Tax Credit Renewed?
« Reply #5 on: December 17, 2017, 01:18:53 AM »

The 7500 4 wheel credit survives. Good for Detroit.
« Last Edit: December 17, 2017, 02:27:40 AM by heroto »
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Burton

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Re: Federal Tax Credit Renewed?
« Reply #6 on: December 17, 2017, 01:56:47 AM »

And the next sentence said there is a push to restore the credit. My question is, were they successful in getting it included in the bill?

The tax bill didn't eliminate the 7.5k EV tax credit ... and it didn't re-add the motorcycle equivalent which was previously sunset after year 2016.

https://www.congress.gov/bill/115th-congress/house-bill/1/text

Feel free to search 2-3, wheel, motorcycle, 10%, electric, vehicle, etc ... it isn't in there ...

I think if there was any news about it being "re-added" Zero would have been all over it on their news / incentives page :D
http://www.zeromotorcycles.com/incentives/


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Richard230

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Re: Federal Tax Credit Renewed?
« Reply #7 on: December 17, 2017, 05:34:46 AM »

Poor Zero just can't afford to buy themselves a Congressman.  ::)
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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.

Burton

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Re: Federal Tax Credit Renewed?
« Reply #8 on: December 17, 2017, 06:21:01 AM »

Poor Zero just can't afford to buy themselves a Congressman.  ::)

So long as they are still selling bikes I guess it is OK ... Remember the earlier days? https://www.crunchbase.com/organization/zero-motorcycles/funding_rounds/funding_rounds_list
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Richard230

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Re: Federal Tax Credit Renewed?
« Reply #9 on: December 17, 2017, 07:50:05 AM »

Poor Zero just can't afford to buy themselves a Congressman.  ::)

So long as they are still selling bikes I guess it is OK ... Remember the earlier days? https://www.crunchbase.com/organization/zero-motorcycles/funding_rounds/funding_rounds_list

I have to admit I was really impressed that Zero was able to pull in that type of investor funding on something as flaky as a new electric motorcycle company. I give those investors credit for taking that sort of chance - with not much of a guarantee of a payoff any time soon.  ???
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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.

heroto

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Re: Federal Tax Credit Renewed?
« Reply #10 on: December 18, 2017, 08:09:22 AM »

Too bad Zero is not incorporated in Indiana.
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