
2021-2025 Form
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People also ask
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How much tax is on a gallon of gas in Massachusetts?
Gas Tax by State StateGasoline Tax Maryland $0.461 / gallon Massachusetts $0.24 / gallon Michigan $0.30/ gallon Minnesota $0.285 / gallon47 more rows • Mar 1, 2024
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What state has the highest fuel tax?
California has the highest tax rate on gasoline in the United States. As of January 2024, the gas tax in California amounted to 68.1 U.S. cents per gallon. California has long been known as the state with the highest tax rates – and consequently some of the highest fuel prices in the country.
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What is the fuel tax in Massachusetts?
Generally, motor fuels excise is due on fuel used on the highway. Effective July 31, 2013, the tax rate on gasoline and diesel is $. 24 per gallon and the tax is included in the price charged at the retail level. To sell motor fuel or automotive lubricating oil you need to obtain a license.
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How do I record my fuel tax credit?
If your business receives fuel tax credits, you can record the amount using a journal entry. The journal entry would involve two categories: A 4-X or 8-X Income category which would be credited. This increases income which amounts to decreasing expense.
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What is the fuel tax in Florida?
Fuel Excise Tax Gasohol – 18.4¢/gal Gasoline - 18.4¢/gal Diesel - 24.4¢/gal 2.86¢ for mass transit. 0.1¢ for leaking tanks. Remainder for roads and bridges. Fuel Sales Tax All fuels 13.4 ¢/gal At least 15.0% of DOT Receipts** dedicated for public transportation.
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How much is the government tax on each gallon of gasoline?
The United States federal excise tax on gasoline is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel. 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.
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What is the sting tax in Massachusetts?
The Sting Tax is an additional entity-level tax of roughly 2% on S-corps with gross receipts between $6 million and $9 million, with an additional 2.9% tax on S-corps with gross receipts in excess of $9 million.
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What is the fuel tax in Vermont?
A person buying at retail will pay 6% sales and use tax for natural gas to fuel a motor vehicle, propane in a free-standing container, and dyed diesel for limited specific uses. Heating oil, gas, and other fuels used for commercial purposes are also subject to 6% sales and use tax, but not when used in the home.
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