IMPORTANT TAX NEWS! (click open/close)
Buy a Scooter, get a TAX REBATE!!!
The U.S. Government's recently approved stimulus package includes tax
breaks for consumers who purchase new on-road two or three wheeled
motorcycles or scooters in 2009.
The law, officially designated as the American Recovery and Reinvestment
Act of 2009, allows buyers of "qualified motor vehicles" to take a tax
deduction for state or local sales or excise tax imposed on the
purchase, up to $49,500 of the purchase price. The deduction applies to
NEW purchases made between February 17 and December 31, 2009, and
taxpayers do not need to itemize to claim it.
Key Tax Break Points
* Vehicles eligible for the tax deduction are all on-road two and three
wheeled vehicles weighing less than 8,500 pounds and is limited to the
tax on up to $49,500 of the purchase price
* The deduction applies to vehicles purchased between February 17, 1009
- Dec. 31, 2009
* Only new on-road two- or three-wheeled motorcycles or scooters are
eligible
* The tax deduction is for state or local sales or excise tax imposed on
the purchase
* Single taxpayers with an adjusted gross income over $125,000 and
married tax payers with an adjusted gross income over $250,000 are not
eligible
* The law also includes a new 10 percent tax credit, up to $2,500 for
motorcycles (two or three-wheeled vehicles) with electric motors
manufactured primarily for use on public streets, roads and highways
purchased by December, 2011
The U.S. Government's recently approved stimulus package includes tax
breaks for consumers who purchase new on-road two or three wheeled
motorcycles or scooters in 2009.
The law, officially designated as the American Recovery and Reinvestment
Act of 2009, allows buyers of "qualified motor vehicles" to take a tax
deduction for state or local sales or excise tax imposed on the
purchase, up to $49,500 of the purchase price. The deduction applies to
NEW purchases made between February 17 and December 31, 2009, and
taxpayers do not need to itemize to claim it.
Key Tax Break Points
* Vehicles eligible for the tax deduction are all on-road two and three
wheeled vehicles weighing less than 8,500 pounds and is limited to the
tax on up to $49,500 of the purchase price
* The deduction applies to vehicles purchased between February 17, 1009
- Dec. 31, 2009
* Only new on-road two- or three-wheeled motorcycles or scooters are
eligible
* The tax deduction is for state or local sales or excise tax imposed on
the purchase
* Single taxpayers with an adjusted gross income over $125,000 and
married tax payers with an adjusted gross income over $250,000 are not
eligible
* The law also includes a new 10 percent tax credit, up to $2,500 for
motorcycles (two or three-wheeled vehicles) with electric motors
manufactured primarily for use on public streets, roads and highways
purchased by December, 2011
Think globally, act locally...
According to independent testing on behalf of Piaggio, 30% of US consumers have considered adding a cheaper mode of transportation to their garage.
Were we to switch just 10% of our total mileage to scooters and motorcycles, we would consume 14 to 18 million fewer gallons of fuel per day, and carbon dioxide emissions could be reduced by 324 million pounds per day. (Source ICR Survey, May, 2006)
Sounds like a win-win-win option (Piaggio, the buyer and the environment) to that second automobile.
According to independent testing on behalf of Piaggio, 30% of US consumers have considered adding a cheaper mode of transportation to their garage.
Were we to switch just 10% of our total mileage to scooters and motorcycles, we would consume 14 to 18 million fewer gallons of fuel per day, and carbon dioxide emissions could be reduced by 324 million pounds per day. (Source ICR Survey, May, 2006)
Sounds like a win-win-win option (Piaggio, the buyer and the environment) to that second automobile.