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U.S. Economic Stimulus Package
You can be proud that the Harley-Davidson dealer network played an important role in obtaining parity for motorcycles with the tax treatment afforded to autos, light trucks and RV’s in this legislation. We thank you for your support, as phone calls and faxes were made on short notice to key members of Congress urging for their support on equal treatment for motorcycles and the impact of the motorcycle industry on the economy.
Motorcycle purchasers deserve the same treatment as those who buy cars and light trucks. Motorcycles deliver great fuel economy, are a reliable source of transportation, great for recreation and travel and help reduce traffic congestion in urban areas.
You are now able to take a federal income tax deduction for state and local sales and excise taxes paid on new “on-road” motorcycles purchases. If you purchased your motorcycle between February 17, 2009 and year-end 2009 this tax deductibility applies to you! Eligibility for this deduction begins to phase out for single filers with adjusted gross income over $125,000 or $250,000 for married couples filing jointly. However this deduction does not apply on spending above $49,500.
Is interest on retail motorcycle loans deductible? The legislation passed by Congress provides a deduction only for state and local sales and excise taxes.
This legislation directly benefits you as a consumer and does not involve any kind of government payment to Hal’s Harley-Davidson or any other dealer. We will not be receiving any tax benefit or any other type of government funding from this legislation. This is all strictly to benefit you as a motorcycle consumer.
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