Hey guys, Dustin here, CEO of sixthreezero. Today, we're going to talk about the electric bike tax credit that we've been hearing on the news and congress talking about, so stick around.
All right, so today we're going to talk about the electric bike tax credit, but before we do, hit that subscribe button below, stay in touch with all the videos we're putting out, and be made aware of the weekly, monthly, contest we're doing here at sixthreezero. We're doing weekly, monthly giveaways for e-bikes, accessories, and standard bikes.
Now recently in the news, in the last month or so, there have been headlines about an electric bike tax credit. Now, as I know right now, this has yet to pass but I've heard the Biden administration is a very bicycle-friendly administration and they're looking for ways to increase the amount of bike riders out there, to minimize the congestion and transportation and build the bike infrastructure.
Now, the electric bike tax credit if passed, is going to be a huge, huge bonus to anybody out there in the market for an electric bike, or it could be a great incentive to get an electric bike even if you haven't been thinking about it.
Now, California did this for electric cars and I think it really worked. It got a lot of electric cars on the road. The tax credit, plus an actual state rebate, plus you would get a carpool lane incentive with the electric car. But the electric bike is an actual tax credit and the way it works from what I've seen, which this may change as the bill comes to be voted on or it actually passes, but how it would work is if you buy an electric bike up to $8,000, you'd be eligible for a 30% tax credit of the cost you paid.
Now with that... But the max tax credit would be $1,500. So if you bought an $8,000 bike, your tax credit would be 1,500. If you bought a $2,000 bike, your tax credit would be $600. Now the benefit, this is not a deduction they're talking about. This would be an actual tax credit. So at the end of the year, if you owed $0 on your taxes and let's say you bought a thousand-dollar electric bike, your rebate would be $300. That would be actually $300 the government would send back to you in the form of a check. So this is real money or real credit, something that could really end up in your wallet or your pocketbook, so this is a huge incentive. We'll keep you up to date here at sixthreezero, as we hear more about it and find out if the legislation has passed and if it's a federal or state, and how it all works.
So again, hit subscribe, stay in touch and if you have any other questions, comments, or thoughts, or if you have any updates on this topic, please put them below in the comments section or shoot us an email, email@example.com or call us (310) 982-2877. And if you're in the market for an electric bike, browse our selection on our website. At the top, go to electric bikes. We have a huge selection for men and women. Also, take our body fit quiz. You're going to answer questions about your lifestyle, your body type, and our proprietary algorithm. We'll recommend the perfect bike for you. The bonus. We have a 365-day return policy. If you don't love your bike within 365 days, send it back, zero questions asked, no money out of your pocket.
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So thanks for sticking around and learning about the electric bike tax credit and don't forget, it's your journey, your experience. Enjoy the ride.