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Federal Tax Credit Approved For Electric Motorcycles (Gas2)

As part of $1.1 trillion dollar spending package approved by Congress last week, a federal tax credit for electric motorcycles that expired at the end of 2013 has been reinstated.  The new law authorises a federal tax credit equal to 10% of the purchase price of a qualifying plug-in two or three wheel vehicle, provided it has a top speed of at least 45 mph and a 4 kwH battery or larger. The maximum credit is capped at $2,500. The credit will apply retroactively to all purchases of a qualifying vehicle since January 1, 2015 and to any new purchases until the end of 2016.

Attribution: http://gas2.org/

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