Ad
related to: ifta miles vs taxable- Expense Trucking Software
Take Control of Expenses.
Get Control of Profits
- Maintenance Software
Always Be Sure that Your Vehicles
are Correctly Serviced.
- Expense Trucking Software
Search results
Results from the WOW.Com Content Network
The International Fuel Tax Agreement (or IFTA) is an agreement between the lower 48 states of the United States and the Canadian provinces, to simplify the reporting of fuel use by motor carriers that operate in more than one jurisdiction. [1]
A 2017 study in the Journal of Public Economics found that "a VMT tax designed to increase highway spending $55 billion per year increases annual welfare by $10.5 billion or nearly 20% more than a gasoline tax does because: (1) the differentiated VMT tax is better than the gasoline tax at targeting its tax to and affecting the behavior of those ...
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).
Standard Mileage Rate vs. Actual Expense Method. Not everything is tax deductible. For example, you may be able to claim a reimbursement for business-related trips, but not for your daily commute ...
On Dec. 29, the agency announced a bump in the optional standard mileage rate starting Jan. 1, 2023 — which will now be 65.5 cents per mile driven. Taxpayers can use the new rate to calculate ...
Kansas’ fuel tax receipts aren’t in decline, but revenues have started to plateau in recent years, reaching a high of $466.38 million in 2022 before ticking down to $465.69 million last year ...
In March 2022, the Alberta government announced it would suspend the collection of the fuel tax starting April 1, as a way to fight the rising cost of fuel. [19] In December 2023, the Alberta government announced that with lower oil prices, the fuel tax would be phased back in after Dec. 31, 2023. [20]
Fleet mileage will be included in the new plan and the FMCSA will study sharing information with the International Registration Plan (IRP) and International Fuel Tax Agreement (IFTA) organizations with consideration of incentives for voluntary mileage updates.
Ad
related to: ifta miles vs taxable