If you are in the market for an electric motorcycle (or any road-legal electric vehicle, for that matter), you have only a few more days to take advantage of the federal tax credit that comes with the purchase of these machines.
For potential electric motorcycle buyers, that means the 10% federal savings (some states offer their own incentives as well) will only be available for purchases made for the remaining four days of 2016.
Once January 1st, 2017 rolls up on the calendar, electric motorcycles will cost their full freight. How this will affect the space though, remains to be seen.
A pivotal moment on Capital Hill for the electric motorcycle segment, as the US Senate Finance Committee has green-lit a bill that would extend tax credits for on-road electric vehicles, which include electric motorcycles. The measure now goes to the full body of the US Senate for voting, and if passed, then$2,500 in tax credits will continue to be given on electric vehicle purchases.
“Without an extension of this tax credit for the purchase of electric motorcycles, we could be stifling this innovative new industry in its infancy,” said Senator Ron Wyden (D-Oregon). A testament to the lobbying power of electric motorcycle manufacturers, Sen. Wyden is at least correct in his assessment that the federal and state subsidies available to electric vehicle manufacturers create a tipping-scale advantage for this fledgling industry.
Through an Enterprise Zone tax credit, the Wisconsin Department of Commerce has handed Harley-Davidson a $25 million tax break for coming to terms with its labor unions in the company’s Tomahawk and Monemonee Falls production facilities. In a move that saw unions cave to Harley-Davidson’s ultimatum, the Bar & Shield brand has disclosed to the SEC that the agreement will save the company $50 million in annual operating expenses, but not before the company writes off a one-time charge of $85 million in restructuring costs, which includes the severance packages for laid off workers.