Ebike Tax Credit 2023
Most Americans have a deadline to file a federal tax return (Tax Day) on Tuesday, April 18. Tax Day is also an e-bike tax refund day for e-bike enthusiasts. Many states and cities in the US offer rebates and incentives for purchasing an electric bike, making it more affordable for people to invest in sustainable transportation. Learn more.
As Rep. Earl Blumenauer, the founder and co-chair of the Congressional Bicycle Caucus's said:
"Cycling is the most efficient form of human transportation ever devised. By burning calories instead of fossil fuels, we can make our communities healthier and more livable. With an e-bike, anyone can be a bike commuter. Still, the high cost discourages too many consumers. That is why I am so excited about the E-BIKE Act. Let's get more people off the highway and into the bike lanes."
Here's what you need to know about e-bike tax refund day. First, it's essential to understand what e-bike rebates and incentives are available in your area. Troxus, a famous e-bike brand, also offers a limited-time offer for e-bikes from April 8th to April 30th ( Massive discount: 35% off! ). It's essential to note that e-bike tax credits are subject to change and may not always be available. It's always a good idea to check with your local government to confirm that the policy is still in place and to review the specific requirements for receiving the rebate. You can use real-time data from the Transportation Research and Education Center (TREC) at Portland State University.
Obtaining tax deductions for electric bicycles is subject to certain restrictions. The purchase price of the electric bike must be less than $8,000, double the $4,000 proposed by President Joe Biden's initial Build Back Better proposal. The legislation imposes income restrictions on buyers to allow low-income individuals to receive subsidies, with a maximum annual salary of $150,000 for individual filers, $225,000 for heads of households, and $300,000 for joint filers.
Couples purchasing two electric bicycles are eligible for one to two deductions every three years. The reintroduced Electric Bicycle Act also proposes regulations to help address battery hazards for low-quality bikes equipped with defective, potentially dangerous, or explosive batteries. The proposed law defines qualified electric bicycles as those that meet the battery safety standards established by the battery technology industry laboratory.
Photo by Caleb
Following the stagnation of the federal electric bicycle incentives, many cities and state governments have also begun to develop local incentive programs. The following is a summary of subsidy programs in various states in the United States:
Offers up to $1,000 for regular electric bicycles and $1,750 for cargo or adaptive electric bikes. Contra Costa County provides up to $300 in savings for purchasing a new electric bicycle. At the same time, individuals over 18 who meet income requirements and live in designated counties can receive $500 for purchasing an electric bicycle. Healdsburg Electric provides qualified electric bicycle rebates ranging from $50 to $700 to its customers, while residents of Redding, California, who meet income criteria and participate in the Residential Energy Discount Program, can receive vouchers of up to $1,150. Learn more.
Avon provides up to $200 for purchasing a new electric bicycle valued at $1,000 or more. Learn more.
While Denver offers up to $1,700 in savings for applying for an electric bicycle. Learn more.
Offers a $500 rebate for purchasing an electric bicycle, with a price limit of $3,000 or less. Learn more.
Provides a 20% rebate on electric bicycles, up to a maximum of $500, to residents. Learn more.
Offers refunds of $500 to $750 for electric bicycles, depending on the resident's income status. Learn more.
Plans to provide a 50% rebate on the purchase of electric bicycles, up to a maximum of $1,100. Learn more.
Provides a $200 tax credit for qualified new electric bicycle purchases. Learn more.
Offers a $300 refund for basic electric bicycles and up to a $500 rebate for electric cargo bicycles. The maximum refund for income-eligible electric or cargo electric bicycles is $1,400. Learn more.
Provides a 75% discount on bicycle costs, up to a maximum of $1,200, or a 75% discount on an electric bicycle. Learn more.
If you're undecided about purchasing an e-bike, a rebate or tax credit could be the incentive you need to start leaving your car at home. If you want to be one of the thousands of people transitioning to electric bikes, look at our range of high-performance e-bikes! Selected Troxus e-bikes are available at a massive 35% discount from April 8th to April 30th.
cover image photoed by Jon Conti