Posts Tagged Colorado

Colorado Fantasy for Enertia Owners

To read this post, you must have three things:

1. Colorado residency

2. A Brammo Enertia

3. Aspirations to own the new Brammo Enertia Plus.

If you don’t have those three things, then don’t read this or you’ll just feel awful about your life.  Seriously.  Stop now and go read something about unicorns and rainbows.

Okay, now that I’m talking to the select few folks who meet 1 – 3, above, how does this sound?:  You could get your new Brammo Enertia Plus for…

Hey!  You! Yoney… get the heck out of here.  You live in Florida or some other hellhole.  You, too, Adamo.  You’re facing six months of cold, hard Illinois winter.  This will send you over the edge of despair.

Okay, where was I?  Ah… yes.  Mr. Colorado-Enertia-Owner-Who-Wants-to-Own-an-Enertia-Plus.

You ready? How does $1605 sound?  Pretty sweet, eh?  Here’s how we get there:

$8995 – retail cost of Enertia Plus

-899 – Federal tax credit

-3991 – Colorado tax credit, you lucky dawgs

– 2500 – Brammo loyalty rebate.

____________

1,605 – out-of-pocket.

Of course, you could, at that point in time, sell that aging Brammo Enertia (please use the Brammo Owner Forum’s Used Enertias for Sale board) for probably MUCH more than $1605 (hello, Legacy Value), and end up with a Brammo Enertia Plus in the garage, and a wallet (or purse) full of cash.

_____

UPDATE: Or, insert the word “Oklahoma” wherever “Colorado” appears, above, and be out-of-pocket a paltry $1098!

Disclaimer – I’m not a tax expert. I’m not even mildly proficient.  My wife does our taxes. Don’t rely on my posts when you make buying decisions.  I might be an attorney but I’m not your attorney.  Most attorneys have no special knowledge about taxes and a majority of them do not practice proper oral hygiene.  I, definitely don’t have special knowledge about taxes.  I became an attorney because I couldn’t stand the sight of blood and numbers were confusing to me.  Do your own research.  Finally, it’s flu season: cover your mouth when you cough or sneeze, you barbarian.

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Hawaii Hang 20 for Brammo?

I’ve never been to Hawaii, but I imagine it’s a perfect place for an EV like the Brammo Enertia.  It’s pretty small.  The weather’s great. And they have some great roads for riding on.  It’s also the next stop on the SIWIBABE list (States in which I’d buy a Brammo Enertia).

This month, Hawaii is scheduled to begin providing “rebates for Hawaii residents, businesses, State and County agencies, and nonprofit entities for the initial purchase of new, commercially available electric vehicles for use in Hawaii and for the purchase and installation of commercially available charging equipment in Hawaii.” See this page.

Oops.  Almost forgot the standard Brammofan Tax Advisor Disclaimer:

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.

The amount of the tax rebate (hey!  it’s a rebate, not a credit, so you’re getting a check, Dan-o) is “up to 20% of the vehicle purchase price, up to a maximum of $4500 per vehicle.”  I’m not sure why they put that first “up to” there… I see no other limiting information, but the official applications may include some fine print to mull over.

Let’s go to the numbers:

$7995 – retail price of the Brammo Enertia

-799 – Federal Tax Credit

-1599 – Hawaii Tax Rebate

——–

$5597

Not too shabby, Big Kahuna.  On the SIWIBABE list, that puts the Aloha State in between Illinois and Georgia:

Oklahoma: $4059

Colorado: $4225

Illinois: $4240

Hawaii: $5597

Georgia: $5696

California: $5834

Oregon: $6127.

Of course, there’s also the problem of getting a Brammo Enertia to the Big Island.  I am somewhat doubtful that Brammo’s $500 delivery fee for residents of states other than California and Oregon would apply, but it you’re one of the thousands of readers of Brammofan in Hawaii, and you’re ready to give it a shot, put down that pina colada and get busy: http://www.brammo.com.  Or, if you want to wait for the Empulse, at least get your preorder in.  The Empulse 10.0 would be:

13995

-1399 Fed cred

-2799 Hawaii rebate

—-

$9797

This information should be showing up soon over on empulsebuyer.com, as well, complete with his Total Cost of Ownership calculator.

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Colorado Brammo-fantasy – Revisited

Colorado has just approved the Brammo Enertia as eligible for the state’s Alternative Fuel Tax Credit.  Although it doesn’t show up yet on their online document as an approved vehicle, the State said in a recent email:

Thank you for all the information on your electric motorcycle. It appears to qualify for the Colorado Alternative fuel tax credit.  I show the incremental price difference to be $3,495.00 your vehicle would qualify under category 1 so would be entitled  to an 85% credit. $3,495x.85= $2,971.00 minus any federal tax credit available.

What does this mean in English (and with real numbers)?

It means that if you buy a Brammo Enertia in Colorado, you will initially hand over the retail price of the bike plus any sales tax (I think Colorado’s State Sales Tax is 2.9%, but I’m going to leave all the taxes out of these articles because different cities and counties have their own sales taxes, and, frankly, I’ve got better things to do than to chase down local tax rates.  Better things, like…um… Hey… do your own homework.)  Speaking of homework . . .

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.

Colorado by the numbers:

$7995 – Retail price of Brammo Enertia

-$799 – Federal Tax Credit

-$2971 – Colorado Tax Credit

____________________

$4225

Okay, so that’s not quite as good as the $2700 figure I came up with the first time I wrote about this issue, but that’s what you get for trusting the advice of a man who chose his profession because he couldn’t stand the sight of blood and because he didn’t “do” numbers.

Still, $4225 is nothing to sneeze at.

In the current tally of SIWIBABE (States in which I’d buy a Brammo Enertia) here’s the rundown:

Oklahoma: $4059

Colorado: $4225

Illinois: $4240

California: $5834

On some of these, I added things like a “delivery charge” and some fees here and there, but this is just for comparison purposes, anyway.  I’ve never considered moving to Oklahoma before, but given that my home state of Missouri offers exactly zilch in the area of alternative vehicle incentives, it might be worth at least making a friend with a Sooner.

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Brammofan-tasy: Lowest Out-Of-Pocket on a Brammo Enertia (hint: move to Colorado)

After all the tax credits and discounts and incentives and gift cards are applied, and your new Brammo Enertia is parked in your garage, what’s left in your wallet?  It depends, of course, on where you live. And where you bought it.  And who you bought it from.

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.

United States of America

Let’s assume for the sake of simplicity and Ameri-centrism, that you are a citizen of the U.S.  You have just bought a Brammo Enertia powercycle, and it cost $7,995.  (Note: by waiting until the middle of November, you already saved $4,000.)

Thanks to the Federal Government, you are eligible for a tax credit on 10 percent of your purchase price.  This isn’t a rebate, so you don’t get the “benefit” of the money until you file your income tax return for the year.  Since we’re looking at ultimate out-of-pocket, let’s go ahead and credit that amount: 10% of $7995 is $800 (we’re rounding up) which brings the out-of-pocket to: $7195.

Let’s also lump the state sales taxes and any excise taxes you might have had to pay here.  At least for Enertias purchased before December 31, 2009, you will get to take a deduction for those taxes.  Here, it gets a bit sloppy as it’s a deduction, not a credit, so it doesn’t directly subtract from your tax liability… rather, it acts as a decrease in the amount of your gross income.  I can see your eyes glazing over, so let’s just pretend that we’re not going to have to worry about sales taxes, okay?

State Tax Incentives

I’m not going to give 50 examples of how you may be able to decrease your out-of-pocket cost depending upon your state, but I do want to mention one noteworthy example. (Really good 50 state starting point is here.)

Colorado:

Colorado has an amazing tax credit that may save you big bucks.  Recently, there was a news report that if you bought a Tesla in Colorado, you could get a $42,000 state tax credit.  Lots of “ifs” here: Had to purchase by December 31, 2009, had to be a resident of the state, had to purchase from a manufacturer or vendor in the state, etc.  So… how might it apply to the purchase of a Brammo?  Bear with me, as it’s a bit circuitous, and that big disclaimer definitely applies here: I am not a tax expert, a tax attorney, or anyone you should give any more credibility to than the Sham Wow guy.

IF you bought your Brammo from Best Buy in Colorado . . . Alright, here’s our first hurdle.  None of the Best Buys in Colorado actually sell the Brammo.  But lets say, for the sake of our BrammoFantasy here, that you could order the bike from the order desk of your local Colorado Best Buy, and have it shipped to that store.  (Surely they must be working on something like this).  You give them the check for $7995, they give you the bike.

Another “if”: If a two-wheeled vehicle is eligible for the tax credit.  I’ve looked at the law and it’s much more confusing than it needs to be.  In one part it says that a “light duty vehicle” does not include a two wheeler.  However, the operative language of the tax credit just says the credit applies to a “motor vehicle” and that term refers to a vehicle that is required to be licensed and registered to operate on the highways of the state.  Thus, it does not appear to limit the credit to two wheelers.  One astute person suggested “take the credit” and let them try to prove that two-wheelers aren’t included.  Ah yes, the ol’ “it’s better to ask for forgiveness than to ask for permission” school of thought.  (It’s good that I can just theorize, rather than actually have to pull something like this off in practice.)

Okay… stay alert… we’re almost to the good part.

According to the Colorado law, for an electric (zero emission) vehicle, you can take a tax credit of 85% of the cost of the vehicle, up to a $6000 ceiling, but “the total amount of any Federal tax credits or other incentives combined with the state tax credit cannot exceed […] the difference between the actual cost and the cost of a similar traditional fueled vehicle.

Breaking it down . . . The total amount of any Federal Tax Credits or other incentives = $800
the state tax credit ($6000=the ceiling, because 85% of $7995 is greater than $6000)
“Combined” $800 + $6000 = $6800
“the difference between the actual cost ($7995) and the cost of a similar traditional fueled vehicle” ($?) Let’s take a $3500 assumption on a 250cc Ninja. $7995 – $3500 = $4495. So… wouldn’t the max Colorado credit be $4495? Bringing the cost of the bike to… 7995 – 800 – 4495 = $2700.

$2700

Holy crapballs.  Pardon my French.  Now we’re talking chicken feed, right? I mean, this guy’s white shirt probably cost more than that.

BUT WAIT!

I know what you’re thinking. ” But Brammofan, surely it can’t get better than this?”

Just hold on to your butts.  The ride’s not over.

Remember that check for $7995 that you handed over to Best Buy?  You didn’t really pay by check, did you?  Of course you didn’t.  You used your Reward Zone card, didn’t you? So you basically earned $5 for every $250 you spent at Best Buy.  So you ended up with an extra $160 you can spend at Best Buy, bringing that $2700 down to $2540.

$2540

(Disclaimer - It's not a real ad. It's just a BrammoFantasy)

So, Einstein… how much are you going to be saving at the gas pump this year because you’re not driving your Landcrusher back and forth to work?

Hey, Judy…how much money are you going to save because guys are buying all your drinks so they can sit next to the “Powercycle Chick” at the biker bar?

Just some questions to ponder this week as you get ready to do your Christmas shopping.

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