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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 ...
The first US state to tax fuel was Oregon, introduced on February 25, 1919. [4] It was a 1¢/gal tax. [5] In the following decade, all of the US states (48 at the time), along with the District of Columbia, introduced a gasoline tax. By 1939, many states levied an average fuel tax of 3.8¢/gal (1¢/L).
Federal excise taxes have been stable at 18.4¢ per gallon for gasoline and 24.4¢ per gallon for diesel fuel since 1993. This raised $37.4 billion in fiscal year 2015. These fuel taxes raised 90% of the Highway Trust Fund. The average of state taxes on fuel was 31.02¢ per gallon for gasoline and 32.66¢ per gallon for diesel fuel in 2021 ...
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 historical use of fuel taxes as a source of general revenue, given fuel's low price elasticity, which allows higher rates without reducing fuel volumes. In these circumstances, the policy rational may be unclear. Vehicle fuel taxes may reduce the "rebound effect" that occurs when vehicle efficiency improves. Consumers may make additional ...
Based on the Department of Energy’s fuel economy calculator, assuming you drive 15,000 miles a year, the Ford F-150 Lightning could save $16,630 on fuel costs over 10 years compared its gas ...
The IRS will only levy to the extent necessary to collect the tax due, although the IRS might levy and sell an asset worth more than the tax due in order to secure the amount of tax due ...
Several states used to levy fuel franchise fees until 1997, when the High Court of Australia ruled in Ha v New South Wales that a licence fee based on the value of tobacco was unconstitutional, as it was an excise tax that only the Commonwealth can levy. The ruling brought into doubt the revenues of the states, and the states removed their fuel ...