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Federal fuel taxes raised $36.4 billion in Fiscal Year 2016, with $26.1 billion raised from gasoline taxes and $10.3 billion raised from diesel and special motor fuel taxes. [16] The tax was last raised in 1993 and is not indexed to inflation. Total inflation from 1993 until 2017 was 68 percent or up to 77 percent, depending on the source. [17 ...
State tax levels indicate both the tax burden and the ... Alaska collects most of its revenue from corporate taxes on the oil and gas ... Nevada: 6038768: 80.2%: 0: 0.0%:
A fuel tax (also known as a petrol, gasoline or gas tax, or as a fuel duty) is an excise tax imposed on the sale of fuel. In most countries the fuel tax is imposed on fuels which are intended for transportation. Fuel tax receipts are often dedicated or hypothecated to transportation projects, in which case the fuel tax can be considered a user ...
Crude oil makes up about half the price of a gallon of gasoline, making crude the key factor on top of distribution costs and taxes. Motorists in Europe see far smaller fluctuations because taxes ...
Jun. 17—The New Mexico Taxation and Revenue Department was recognized by a national organization this month for an oil and gas compliance tool. The tool was developed in partnership with ...
This past month, the state of Alaska did a major overhaul of its oil and gas taxes, allowing oil companies to. Skip to main content. 24/7 Help. For premium support please call: 800-290 ...
This shortage was due to lower gas consumption as a result of the recession and higher gas prices, together meaning an overall decrease in revenues that would otherwise have been directed to the Fund. [5] Further transfers of $7 billion and an additional $19.5 billion were made in 2009 and 2010, respectively. [6]
They may be tax breaks on consumption, such as a lower sales tax on natural gas for residential heating; or subsidies on production, such as tax breaks on exploration for oil. Or they may be free or cheap negative externalities ; such as air pollution or climate change due to burning gasoline , diesel and jet fuel .