What do chickens have to do with potatoes? For that matter, what do chickens have to do with steel? And what do both of those things have to do with tires? The answer isn’t as obvious as you may think, and this week everyone in the motorcycle industry is asking themselves what European motorcycles have to do with beef exports. The answer to all these questions is the same though, and it involves the rather unsophisticated motorcycle industry being dragged into the rather complex world of international trade negotiation. Let me explain. What’s the beef? You see for nearly 30 years now, the United States has been battling with the European Union over the prohibition of hormone-raised beef being sold on the European market.
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.
More bad news comes from Italy, as MV Agusta has come under investigation by the Guardia di Finanza for allegedly misusing its employees’ INPS contributions (Italy’s national pension system, similar to the USA’s Social Security system), which may have gone to paying bills from suppliers, to the tune of €6.8 million.
To put this into context for our American readers, Italy’s Guardia di Finanza is law enforcement agency that handles financial crimes – its duties and powers are analogous to the intersection on a Venn diagram that is composed of our IRS, FTC, and US Customs bureaus.
Italian businesses are required to pay into the INPS pensions of their employees, and here the Guardia di Finanza has been investigating whether MV Agusta used those funds instead to pay its supplier invoices. MV Agusta CEO Giovanni Castiglioni denies the allegations, though has some financial issues of his own to contend with.
Starting this November, Oklahoma riders will have to start paying a $3 fee that helps fund motorcycle safety in the OK State. The tax will be added to existing registration fees, and affects new bikes and their renewals.
While the Oklahoma Advisory Committee for Motorcycle Safety and Education will decided how the funds are used, it’s under the presumption that revenue generated from the tax will be spent on safety advertising and promotion.
Despite the hit to the wallet, the Daily Oklahoman says that riders in Oklahoma aren’t complaining about the increased registration costs.