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The first federal gasoline tax in the United States was created on June 6, 1932, with the enactment of the Revenue Act of 1932, which taxed 1¢/gal (0.3¢/L). Since 1993, the US federal gasoline tax has been unchanged (and not adjusted for inflation of nearly 113 percent through 2023) at 18.4¢/gal (4.86¢/L).
Rhode Island: 2022 Child Tax Rebates. Residents of the following states who received a state tax refund and either claimed a standard deduction or itemized deductions but didn’t receive a tax ...
In January 2022, Florida governor Ron DeSantis proposed a $1 billion gas tax holiday to counter inflation. The proposed policy would have occurred between July 1, 2022, and November 30, 2022. [ 7 ] The final legislation resulted instead in a one-month gas tax holiday for October 2022. [ 8 ]
The Internal Revenue Service (IRS) finally issued guidance regarding the federal tax status involving special payments made by 21 states in 2022, determining that taxpayers in many states will not ...
The least expensive regular gas prices are found in Colorado, Mississippi and Louisiana. During the first week of April 2024, California saw the biggest increase in the cost of gas compared to any ...
The Revenue Act of 1964 restricted the SALT deduction to state and local taxes on real property, personal property, income, general sales, and gasoline and other motor fuels. [17] Amid the 1970s energy crisis, Congress passed the Revenue Act of 1978, which eliminated the deduction for state and local taxes on gasoline and motor vehicle fuel.
Receiving a state tax refund can feel like a financial windfall, but it’s important to understand the implications it may have on your federal taxes. In certain situations, your state refund may ...
However, some people use the tax refund as a simple "savings plan" to get money back each year (even though it is excess money that they paid earlier in the year). Another argument is that it is better to get a refund rather than to owe money, because in the latter case one might find oneself without sufficient funds to make the necessary payment.