Zero Motorcycles Tax Credit
Zero Motorcycles has announced that its entire 2016 model lineup will again be eligible for a 10 percent tax credit – and that equates to a bit of savings as well as some extra incentive to pick up a new electric bike. This past Friday, the tax credit was included in the “last minute” tax extenders bill approved by Congress and signed into law by President Barack Obama in the afternoon.
Zero Motorcycles led a coalition of electric bike producers to ensure that the plug-in tax credit would be extended and include electric motorcycles. As a sign of unity, the coalition rallied Congress to take action and expand green jobs in the rapidly growing industry. Zero Motorcycle dealers, customers and fans had the opportunity to share their support as well by urging Congress to support the extension of the plug-in tax credits.
“Tax credits for electric motorcycles are not only an effective way to create jobs, they are also an investment in clean energy technology. We think that America can and should lead the world in electric motorcycle technology,” said Richard Walker, CEO of Zero Motorcycles. “The electric motorcycle industry is rapidly responding to our country’s need for affordable and environmentally responsible transportation. We’re naturally excited to combine our passion for motorcycles with something that benefits everyone.”
It took many months of consistent work with Congress for the two major plug-in tax credits to success. This also included the 2-3 wheeled plug-in tax credit which had expired at the end of 2013, which was extended as part of the final tax extenders legislation signed into law by President Barak Obama. The signed bill includes the following provisions:
- Extends the EV infrastructure tax credit from the beginning of 2015 until the end of 2016.
- In the case of the 2-3 wheeled plug-in tax credit, this covers 10 percent of the purchase price, up to $2,500 maximum, and applies only to vehicles capable of over 45 mph and with a 4 kilowatt-hour or larger battery pack. The 2016 Zero S, Zero SR, Zero DS, Zero DSR, Zero FX and Zero FXS all qualify for the incentive.
- These tax credits are retroactive and apply to electric motorcycles and EV chargers purchased in 2015. All new Zero models purchased in 2015 or 2016 are eligible for the tax credits.
Interested parties are strongly encouraged to speak with an authorized Zero Dealer for more information about this federal tax credit. For additional information, visit Zero Motorcycles.