With a few small changes, the federal income tax credit for buyers who purchased electric motorcycles (two or three wheeled) in 2012 has been extended through 2013. The most significant change is the elimination of electric golf carts from the list of vehicles eligible for the tax credit, the tax credit was created with the intent of helping consumers purchasing electric motorcycles for real transportation.
Buyers who purchase a two- or three-wheeled electric motorcycle that is capable of traveling at least 45mph will be eligible for a tax credit of up to 10 percent of the purchase price through the end of 2013.
Brammo, a manufacturer of electric motorcycles based in Oregon, along with Senator Ron Wyden from Oregon, worked diligently to get the tax credit extended. Senator Wyden believes the U.S. electric motorcycle industry can create 16,000 jobs over the next five years. Also in support of the tax credit, Zero Motorcycles, based in California, worked side by side with Plug-In America and other electric motorcycle companies by sending letters to Congress in support of the extension.
The details of the tax credit for the purchase of electric motorcycles are as follows: A two- or three-wheeled plug-in vehicle that uses a 4 kilowatt-hour or larger battery pack and can go over 45 mph is eligible for a tax credit of up to 10 percent of the purchase price, with a maximum credit of $2500. The tax credits are retroactive on vehicles purchased in 2012.
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