Press Release | December 28, 2019
Electric Motorcycles Again Eligible for 10 Percent Federal Tax Credit
This is a press release from Zero Motorcycles…
Washington, D.C. (December 23, 2019) – Zero Motorcycles, the global leader in the electric motorcycle industry, announced that the company’s complete 2020 model line of electric motorcycles will again be eligible for a 10 percent federal tax credit for plug-in vehicles. The tax credit was included in the “last minute” tax extenders bill approved by Congress last week and signed into law by the President on Friday, Dec. 20.
Zero Motorcycles, in conjunction with a coalition of other notable electric motorcycle companies, worked to ensure the plug-in tax credit would be extended. Standing together with manufacturers coast to coast, the coalition rallied Congress to take action and expand green jobs. Zero dealers, customers and fans weighed in as well, urging Congress to support the extension.
“Tax credits for electric motorcycles are not only an effective way to create jobs in an emerging American EV industry, but they are also an investment in our clean energy future,” said Sam Paschel, CEO, Zero Motorcycles. “We think the U.S. can and should continue to lead the world in electric motorcycle technology, and we realize that no single company can blaze the trail alone. It’s through collective action like this tax credit coalition that our industry will grow and succeed.”
After numerous months of consistent work with Congress, two major plug-in tax credits, including the 2-wheeled plug-in tax credit that expired at the end of 2017, were extended as part of the final tax extenders legislation signed Friday by President Trump. The bill extends the EV infrastructure tax credit from January 1, 2018 through January 1, 2021.
The extended two-wheeled plug-in tax credit covers 10 percent of the purchase price, up to a $2,500 maximum, and applies only to vehicles that exceed speeds of 45 mph. The 2020 Zero SR/F, Zero S, Zero SR, Zero DS, Zero DSR, Zero Black Forest, Zero FX, and Zero FXS all qualify for the incentive. The tax credits are retroactive, making any Zero model purchased during 2018 or 2019 eligible as well.
Consumers are encouraged to speak with an authorized Zero Dealer to obtain more information about the Federal Tax Credit. For information on how to claim tax credits, please seek professional advice from a tax advisor, attorney or accountant.
For more informatiom about Zero Motorcycles, visit https://www.zeromotorcycles.com/
