Stimulus bill offers tax credit for motorcycle purchases
The economic stimulus bill will provide a tax credit for the purchase of motorcycles, which wasn’t included in prior bills, according to a press release from the American Motorcyclist Association (AMA).
The tax credit will not only help riders, but motorcycle retailers as well, says Ed Moreland, AMA Vice President for Government Relations.
“When it appeared that motorcycles were going to be overlooked in this bill,” he noted in the release, “the AMA and the association’s members, along with Harley-Davidson and others, took our case straight to Capitol Hill and persuaded lawmakers that this was the right decision.”
Motorcycles are included as “qualified vehicles” in Section 1008 of the legislation. Those purchasing a new motorcycle will be able to deduct the sales and excise taxes on their 2009 tax returns. Prior to the current bill, the deductions only applied to the purchase of new cars and light trucks.
Moreland added, “This victory is particularly gratifying because it represents a community-wide effort to elevate motorcycles as a recognized and viable means of transportation in America.”
