The Minnesota E-Bike Rebate program application will start on 2 July 2024, and aims to reduce e-bike costs for residents. Eligible buyers can receive a discount of up to $1,500 on qualifying e-bikes. The rebate value, ranging from 50% to 75% of expenses, depends on your 2023 tax return and income.
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Minnesota E-Bike Rebate
The Electric-Assisted Bicycle Rebate (e-Bike Rebate) in Minnesota is designed to reduce the cost for residents who want to purchase a new e-bike. A discount of up to $1,500 is offered on an eligible e-bike through the e-Bike Rebate. The actual rebate amount depends on the buyer’s 2023 tax return and their AGI income.
It ranges from 50% to 75% of the total cost. Minnesota taxpayers residing in the state who are over 15 years old and not dependents are eligible for this rebate. The application portal for the e-Bike Rebate reopens on July 2 at 11 a.m. (Central Time).
How much will Minnesota E-Bike Rebate provide?
The rebate amount is based on the total cost of the e-bike you intend to purchase.
When you buy an e-bike, the program considers the actual price you pay, including any taxes, fees, and accessories. Your annual income plays a crucial role in determining the rebate amount.
If your income falls within the specified thresholds, you’ll receive a higher percentage of the rebate. The rebate percentage varies, ranging from 50% to 75% of the total cost. The maximum rebate amount per e-bike is $1,500. To estimate your potential rebate, refer to the e-Bike Rebate Certificate Values document.
If your AGI is at least $0 and less than $54,001 in joint filing, then you are eligible to get 75% of your E-Bike total cost. And if all other filers have AGI between $0-$29,001, then they are also eligible for 75% of total cost.
Who is eligible to get Minnesota E-Bike Rebate Amount?
Let’s break down the eligibility criteria of Minnesota E-Bike Rebate for both individuals & retailers:
Individuals
- You must be a resident of Minnesota to qualify for the rebate.
- Applicants must be over 15 years old.
- You should not be claimed as a dependent on 2023 tax return.
Retailers:
- You must have been selling e-bikes at retail for at least six months before qualifying in order to be eligible. Apply for the program using the retailer’s online site. Within seven business days, authorities will reply.
- Upon receiving a rebate certificate from a customer, apply the specified discount to the eligible e-bike purchase at the point of sale.
- Using the system, choose your company as the recipient of the rebate certificate. In order to get payment for the rebate’s value, you need to do this step. Please use the official system to submit a refund request within 30 days of the sale.
Where and how can I apply for the Minnesota E-Bike Rebate?
Let’s walk through the step-by-step procedure for applying to the Minnesota E-Bike Rebate program, both for individuals and retailers:
Applying as an Individual:
- The online application portal reopens on July 2 at 11 a.m. (Central Time).
- Go to the Minnesota Department of Revenue’s e-Bike Rebate page.
- You’ll need to provide the following details:
- Your name and contact information.
- Your date of birth.
- Your Social Security Number or Individual Taxpayer Identification Number (ITIN).
- Your tax filing status for 2023.
- Refer to the e-Bike Rebate Certificate Values (PDF) to estimate your potential rebate.
- Use your 2023 filing status and adjusted gross income from either your Minnesota Form M1 or Federal Form 1040.
- Prior to using the application, you can be put in a virtual waiting room based on demand. In the same order that you entered the waiting area, you will be able to access the application.
- You will have 15 minutes to finish and submit the application when you enter it.
Applying as a Retailer:
- Currently, the option to apply as an eligible retailer is temporarily unavailable, it will also be open on 2 July.
- Retailers who want to participate in the program must apply to the Minnesota Department of Revenue online.
- Stay informed through email updates for e-Bike Rebate retailers.
Note: The official website states that the application window is brief, with a cap of 10,000 applications. Once this quota is met, the rebate application will close, and individuals in the waiting room will be informed that they cannot apply for this year.
What after the Minnesota E-Bike Rebate application?
After submitting your Minnesota E-Bike Rebate application, here’s what you can expect:
Processing Time:
- Your application will be examined by the Department of Revenue in Minnesota. Processing times may vary, but you should receive a response within a week or reasonable period.
Approval Notification:
- You will be notified if your Minnesota E-Bike Rebate application is accepted. The notification will include details about the rebate amount you qualify for.
Claiming Your Rebate:
- Follow the instructions provided in the approval notification to claim your rebate. It might be necessary for you to provide further information or documentation.
Enjoy Your E-Bike:
- Once everything is processed, you can use your rebate to make your e-bike purchase more affordable. Enjoy eco-friendly rides and explore Minnesota.
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