Electric Bike Tax Credit in us, with a maximum deduction of $1,500
According to reports, on March 21, the federal government re-proposed the tax deduction bill for the purchase of electric bicycles. The deduction amount is 30% of the price of electric bicycles, with a cap of $1,500. Last year, the electric bike tax credit was excluded from the Reduce Inflation Act, but this year the federal bicycle tax credit incentive has been reinstated.
Because of the lightness, speed and efficiency of electric bicycles, the use of electric bicycles in the United States has grown steadily in the past few years. Electric bicycles have become a car substitute for many people, but compared with traditional bicycles, the cost of electric bicycles is high, and the cost of low-end electric bicycles The starting price is about 600 to 800 US dollars, and the price of high-end electric bicycles has increased by more than ten times. The high price has become an obstacle for the government to promote low-carbon travel.
In order to lower the purchase threshold, different subsidy policies have been introduced from the federal government down to the state government. The restart of the federal tax credit bill will further accelerate the popularity of electric bicycles and the usage rate in residents’ daily travel. Denver issued more than 4,700 e-bike rebates last year through its e-bike rebate program.
Access to tax credits is conditional
First, e-bikes must be purchased for less than $8,000, double the $4,000 stated in President Joe Biden’s original Build Back Better proposal.
To make the subsidy available to low-income people, the bill caps buyers’ incomes at $150,000 for individual filers, $225,000 for heads of household and $300,000 for joint filers.
For joint couples who buy two e-bikes, each can get one or two credits every three years.
After the previous federal e-bike incentives stalled, many cities and state governments have also begun to develop local incentive programs. Below is a list of US state subsidy programs.
California:California offers up to $1,000 for regular e-bikes and up to $1,750 for cargo or adaptive e-bikes.
Contra Costa County can claim up to $300 in savings on a new e-bike.
Contra Costa County age 18, meet income requirements and live in designated counties to receive $500 for the purchase of an e-bike.
Heldsburg Offers Heldsburg Electric Customers $50-$700 in Qualifying Electric Bike Rebates.
City of Redding, CA Meets Income Guidelines and Enrolls in Residential Energy Rebate Program to Receive Up to $1,150 in Vouchers.
Santa Cruz program provides $800 to eligible low-income residents and $400 to non-low-income residents.
Connecticut to get $500 rebate on e-bikes that cost $3,000 or less.
Hawaii offers residents 20% rebate on e-bikes up to $500.
Massachusetts to give e-bike rebates of $500 to $750 depending on residents’ income status.
New York state ：program will offer 50% rebates up to $1,100 on e-bike purchases.
Oklahoma ;offers $200 tax credit for qualifying new e-bike purchases.
Nashville： has a base rebate of up to $300 for e-bikes and a maximum rebate of $500 for cargo e-bikes. E-bike or cargo e-bike income-qualified rebate up to $1,400
Washington, D.C. offers local residents a discount of 75% or up to $1,200 off the cost of a bike or 75% off the cost of a bike.
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