Submitted for your approval – Imagine that it’s 2011 and you just received notice from Brammo that its latest offering, the Empulse, is ready to ship. That’s the good news.
Imagine also, that the kharmic gods have seen fit to dump you, unceremoniously, in that certain hellhole known as … The Oklahoma Zone. That’s the bad news.
Before you emigrate, you should definitely go ahead and accept delivery of your Brammo Empulse 10.0 (you did order the 10.0, didn’t you?). Here’s why: Tax Incentives.
Disclaimer: Don’t get your tax or other financial advice from anyone whose online name ends in -fan. This means: do your own homework on this purchase. I’m just trying to get you to think.
I’m going to pull the text of my previous Oklahoma post on the Brammo Enertia, and just plug in the Empulse amounts. Why? Because I’m lazy… and I’ve got to get packing for the upcoming weekend at Laguna Seca, baby!.
Oklahoma Statutes Title 68, Section 2357.22 – “One-Time Credit Against Income Tax for Investments in Qualified Clean-Burning Motor Vehicle Fuel Property.” With an alluring title like that, you know you’re in for a treat if you did a little deeper, right? Here’s the basic language, followed by my translation:
For tax years beginning before January 1, 2015, there shall be allowed a one-time credit against the income tax imposed by Section 2355 of this title for investments in qualified clean-burning motor vehicle fuel property placed in service after December 31, 1990, and for investments in qualified electric motor vehicle property placed in service after December 31, 1995.
Translation: Buy a Brammo? Get a tax credit. Oklahoma does not discriminate against motorcycles – the law says that a motor vehicle has to be “originally designed by the manufacturer to operate lawfully and principally on streets and highways.”
Question: How much is the credit? Again, here’s the basic language, followed by my translation:
There shall be a one time credit allowed for . . . investments in qualified electric property. The credit shall be 50% of the cost of . . . qualified electric motor vehicle property as defined in Title 68 O.S. Section 2357.22 and Rule 710:50-15-81.
Translation: Buy a Brammo Empulse 10.0, Get a $6997 tax credit (50% of the $13995 cost of the Brammo Enertia).
Question: How do I get this tax credit? (Do I have to do everything for you? Okay, here you go, but please keep it to yourself — if Ms. Brammofan finds out about this, she might make me do the taxes this year) When you are filling out your State Income Tax forms, you would grab the “Other Credits” form (Form 511CR) and fill in Line #3 with this number: 3997. You will also need to attach a copy of the paid invoice for the vehicle.
Question: When do I get my check? Okay, Einstein, you don’t really “get a check,” as this is not a rebate like you would get if you lived in California. Rather, it reduces the amount you would have to pay in Oklahoma State income tax. So, for example, if you owed $10,000 in Oklahoma State Income taxes for 2010, then this tax credit would reduce your tax liability to $3003.00. And, if you couldn’t use the tax credit all in one year because your income tax liability was less than $6997, the law allows you to use it over the course of three years.
Question: So, my final out of pocket cost on the Brammo Enertia in Oklahoma is $6998? No, it’s actually better than that. You still get the Federal tax credit of 10 percent the cost of the bike: $1399. So. . .
13995 (Cost of Empulse 10.0) – 6997 (Oklahoma tax credit) – 1399 (Federal tax credit) = 5559.
“Yo, Ms.Brammofan! Everything is NOT up to date in Kansas City. Pack your bags, baby, we’re going to be Sooners.”
Always read the fine print.
*remember, there’s always an asterisk. The same people who call it an “asterix” will spell the word “Empulse” incorrectly. Your mileage may vary. This amount, $5599, does not include state sales tax, local taxes, any taxes, or, of course, taxes. It also does not include any delivery charge that Brammo may include for delivering the bike to the state that proudly declares (without any irony) that it is “OK”. This is just an exercise in fantasy, of course, as Oklahoma stops all non-Harley Davidsons at the border and will not let them enter. If you do happen to smuggle the Empulse in, the second you hit the public roads on it, you’re gonna git your butt pulled over by Trooper John, who’s gonna put you in the slammer for ridin’ a Japanese or eyetalian sportbike on these fine American roads. Made in Oregon, you say? 30 more days in solitary for you, boy, for lyin’ to an officer of the peace. The price does not include anything else that may detract from the sensationalism and shock value of getting an Empulse 10.0 for the price of a moped. Wow. Did I mention I’ve already pre-ordered mine and that you can pre-order yours at http://www.brammo.com/empulse/ ? You, however, will end up with an order number much higher than mine.