The article reports that gasoline consumption in California declined 4.5% in January 2008 but sales tax revenue was up. This was noted by the California State Board of Equalization (BOE). Despite the year-to-year and month-to-month declines, California sales tax revenue from gasoline increased ...
Last November, thestate's diesel tax jumped by 20 cents, to 36 cents per gallon — an increase of 125 percent. Also, the new law lifted the diesel sales tax rate to 13 percent from 9 percent. That said, farming does have a partial tax exemption on diesel when they use fuel for ha...
“The market controlled in the state by only a few companies” is the result of actions taken by Governor Gavin Newsom resulting in chasing oil companies Chevron and Phillips 66 out, the CARB Board regulations which increase restrictions on the oil industry resulting in higher gas prices, a...
"I had an issue with the tax increase when it went into effect because I felt that it should be paid for by the oil refineries excessive profits," he said. With the state average at over $4 a gallon, motorists pay close to $1.20 more per gallon at the pump than the national averag...
The elimination of the EV tax credit would lead to a drop in prices and initially cut into Tesla's profits. However, lower EV prices would also increase losses for legacy automakers still losing money on EVs and trying to get a firmer footing in the EV market. If traditional a...
The current gas tax is 51.1 cents per gallon, and is supposed to increase by around 3 cents per gallon when the increase kicks in on July 1. Gas PricesMoneyCalifornia Stream FOX 11 LA on FOX LOCAL TrendingDJ Akademiks under fire over grooming allegations, disturbing comments towards minor ...
They concluded nothing turns out conservatives like a chance to vote against taxes. In 2017 the Legislature passed an increase in gasoline taxes and vehicle registration fees to fund transportation – primarily road maintenance and improvements. As popular as infrastructure is, taxes are not, and the...
Proposition 13 had three unanticipated consequences: 1) the fiscalization of land use, 2) the growth of arcane finance techniques, and 3) the increase of state control over local government finance. (PDF) The Continuing Redistribution of Fiscal Stress: The Long Run Consequences of Proposition ...
But the tax cut that will get the most attention is at the pump, where Californians are paying the highest gas prices in the nation. California taxes gasoline at 51.1 cents per gallon. That tax is scheduled to increase on July 1 because of inflation. ...
House Transportation CommitteeChair Sam Graves (R-Mo.) suggested he’s unlikely to push for awholesale shift away fromthe gasoline tax in favor of something like vehicle miles traveled. That’s it for today, folks! Thanks for reading.