US Relaunches Tax Breaks for Electric Motorbikes
December 21, 2015 Taxation in USA
WASHINGTON D.C. – The USA has reinstated a tax break on electric motorbikes, a move which is claimed will not only increase purchases but will also boost research and employment in the green-tech industry.
Last week the US Congress approved a spending package which include the return of a previously cut tax credit on the purchase of electric motorbikes.
The tax credit, which was dropped in 2013, will apply to the sale of all two- and three-wheel electric vehicles which can reach a top speed of at least 45 miles per hour, and have a battery capacity of at least 4kwH.
The new tax credit will be worth 10 percent of the purchase price, with a maximum cap of USD 2 500.
The tax credit for qualifying purchases will be applied retroactively for all sales made from January 1st 2015, and will last until the end of 2016.
The tax credit will also apply to any optional extra electric vehicle chargers purchased for the vehicles.
Commenting on the tax credit, the CEO of the electric motorcycle manufacturer Zero Motorcycles claimed that the beneficial tax treatment will help create more jobs and boost investment into green energy technology and research.
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