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The United States federal excise tax on gasoline is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel. [ 1 ] [ 2 ] Proceeds from the tax partly support the Highway Trust Fund . The federal tax was last raised on October 1, 1993, and is not indexed to inflation , which increased 111% from Oct. 1993 until Dec. 2023.
Excise taxes dedicated to the Airport and Airway Trust Fund raised $9.0 billion in fiscal year 2020, down from $16.0 billion in fiscal year 2019. [2] 90% of the excise tax revenue comes from taxing passenger air fares, and the remaining 10% comes from air cargo and aviation fuel taxes.
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 ...
In 2025, the state will increase its motor fuel tax on diesel, biodiesel, and gasoline from 28.5 cents per gallon to 31.5 cents per gallon. ... In Wisconsin, E.V. drivers will pay an excise tax of ...
Gasoline is a commodity, meaning its price is largely driven by supply and demand. But the final amount you pay at the pump is never simply a function of those two variables in your area. In fact ...
Other products with excise taxes include fuel, alcohol and sports betting. Excise taxes can be either a flat fee or a percentage of the cost of the product or service. For instance, a state could ...
Fuel Tax: In China tax on fuels differs for every type of fuel. For instance, the excise tax on gasoline is 1.52 yuan per liter and for diesel is 1.2 yuan per liter. Tobacco Tax: The tax on tobacco is actually ad valorem tax meaning that it's based on the retail price of the item rather than quantity. For example, the tax on cigarettes ranges ...
Excise taxes apply to specific goods and services. Businesses that make or sell chosen goods and services collect most of these taxes. As a consumer, you generally won’t get a bill for excise tax.