As part of the Fiscal Cliff agreement approved on January 1st, 2013 tax provisions due to expire at the end of 20112 related to green energy and electric vehicles have been extended. The list of preserved tax items is good news for those in support of the green energy and technology proposals of the Obama Administration.
The renewed credit will provide up to a $2500 tax credit to customers for the purchase of an electric motorcycle. Low speed vehicles like electric golf carts are now eligible for the consolidated tax credit.
The electric motorcycle industry is expected to create nearly 2,000 jobs in just the next 18 months and more than 16,000 jobs over the next 5 years.