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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 ...
Federal excise taxes include: Gasoline taxes:$0.183 per gallon on regular) Pipe tobacco: $2.83 per pound. Beer: $3.50 per gallon for the first 60,000 barrels, domestic only.
In 2024, inflation has hit the U.S. and the global economy with a vengeance. From the perspective of the American consumer, the skyrocketing cost of gas has likely been the clearest indication of...
The motor fuel excise tax rate in the state is the amount for the preceding calendar year (40.4), multiplied by a percentage. The percentage is plus or minus the sum of the annual percentage ...
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 ...
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