2006 gsxr 1000 cuts off after hard acceleration in 1st gear. Cuts off around 8,500- 9,000 RPM and red light comes on but can start right back up after stopping.

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most likely an rpm limiter sensor that prevents you from blowing the motor
moving from 1st to 2nd or any gear should be done at no more than 4000 rpms as the engine is outside the torque range and is just a waste of fuel

Replace your MAF, its a little pricey around $280.00 or so but this will clear the code but make sure you have the ECM reprogrammed to perform a "learning" sequence since sometimes the code will not clear even though the vehicle will run like new. This reprogramming will most likely have to be a dealer performed procedure.

Check out related help links to troubleshoot these problem:----Click the link below:---Idles Fine but RPM jumps in drive mode? http://technoanswers.blogspot.in/2012/07/idles-fine-but-rpm-jumps-in-drive-mode.html
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--------How to adjust rpm on 2009 dodge charger SRT8?

http://schematicsdiagram.blogspot.com/2011/12/how-to-adjust-rpm-on-2009-dodge-charger.html
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Engine cuts out at 3000 RPM? http://schematicsdiagram.blogspot.com/2011/12/engine-cuts-out-at-3000-rpm.html

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Cold start problem and vehicle shudder around 2500 to 3500 rpms
http://repairhelpcenter.blogspot.com/2012/10/cold-start-problem-and-vehicle-shudder.html

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High rpm in neutral? Inconsistant high RPM in neutral? http://technoanswers.blogspot.in/2012/02/high-rpm-in-neutral-inconsistant-high.html

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Jetski Sputters and Low RPM? http://whatisbyme.blogspot.in/2012/07/jetski-sputters-and-low-rpm.html

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Fuel Injection Problem And RPM suddenly increases http://whatisbyme.blogspot.in/2012/07/fuel-injection-problem-and-rpm-suddenly.html

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2005 Toyota Highlander: Engine runs hard RPM below 3000? http://whatisbyme.blogspot.in/2012/05/2005-toyota-highlander-engine-runs-hard.html

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1987 Toyota Camry: RPM Drops going Up hills? http://whatisbyme.blogspot.in/2012/05/1987-toyota-camry-rpm-drops-going-up.html

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Cruise Control stops working, Excessive cranks to start the engine and RPM goes max 2500 http://whoisbyme.blogspot.in/2012/07/cruise-control-stops-workingexcessive.html

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1990 Toyota 4Runner: Engine cuts off when reaches 2000 RPM?

http://whatisbyme.blogspot.in/2012/05/1990-toyota-4runner-engine-cuts-off.html

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1999 Toyota Camry: Erratic stalling and high engine RPM at idle?

http://whatisbyme.blogspot.in/2012/05/1999-toyota-camry-erratic-stalling-and.html

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1995 Toyota LS: Misfire at idle or low RPM http://whatisbyme.blogspot.in/2012/04/1995-toyota-ls-misfire-at-idle-or-low.html

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Lexus RX: Tapping noise under Valve Cover At Low RPM? http://technoanswers.blogspot.in/2012/04/lexus-rx-tapping-noise-under-valve.html

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These will help.
Thanks.

Check out the side stand safety switch, check if the switch is sticking remove any grease or dirt that may prevent the piston returning

Clean or replace air filter..then if the doesn't do it, go to Autozone and purchase a can of Sea Foam fuel treatment and pour in 1/3 can to 2 gallons of fuel, purchase or clean up your fuel filter and then dump out the fuel in it, now pour some Sea Foam into the filter and then start it up. if it doesnt start up, then push start it, and get on it and go! Ride for about 10-15 miles on and open highway where you can get on it occasionally to let the stuff work its way through the fuel system. If this did not fix it, then check all your vacuum lines, spray around the carb areas and lines with some carb spray, if the rpm increases ..then theres your problem. Can you rate this! thanks

that's a bad neutral safety switch...it's a shop repair...now, the reason it goes bad:

the 1st gear is for getting the bike moving, period...you "never" wind out in 1st gear...ever...high rpm and going from 1st to 2nd is very bad for a transmission...think about how much movement is happening to go from the bottom, past neutral, to 2nd gear...that's where most trans damage occurs...once you start moving, go to 2nd, then rev it out... remember...1st gear is for getting moving only...

Try a tranny service change a place that changes the filter the pan gasket and fluid not some of these quick places that just drain a couple quarts out of the tranny lines and thats it that wont help but a complete tranny service should help.

Sounds like you're running out of fuel. It doesn't take much power (ie, fuel) to rev it in neutral, which might explain why it does that fine but falls over under load. Checked your fuel pressure/pump/filter?

either the crank sensor, tune up, or a transmission sensor are bad