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May 08 - With gas prices doing what they are...and it being political campaign season... some candidates have suggested the federal gasoline excise tax (which we consumers don't really see, which like a sales tax just becomes part of the price we pay at the pump), should be discontinued for the summer. Hence reducing the amount we pay for gas.
Interestingly, many politicians, economists, etc., don't think it is a good idea. The amount is relatively small (save the average driver something like $50) over time, and the amount generated is used specifically for building roads, infrastructure, etc., which is seriously needed....and when done helps the economy itself in many ways.
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∙ 16y ago
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Is Gas sales tax deductible?
Gas tax is an excise tax not a sales tax. It is therefore not deductible for federal income tax purposes.
Is gas tax deductible on current federal income tax forms?
No.
What is McCain going to do about gas prices?
McCain declares a summer gas tax holiday, suspending the 18.4-cent for gas tax and 24.4-cent diesel tax from Memorial Day to Labor Day.
Is sales tax deductable?
Gas tax is an excise tax not a sales tax. It is therefore not deductible for federal income tax purposes.
What is the Texas state and federal tax on a gallon of gas?
Texas Gasoline Tax: 20 cents/gallon
How much tax in California is on a gallon of gas?
Tax is 63.9 cents per gallon. Of that amount 18.4 cents is Federal Tax.
How much is the federal gas tax?
18.4 cents per gallon (WHOA)
When is the last day you can mail your federal income tax forms?
April 15th - unless that day is a holiday in your state.
Month in 2010 to file tax returns?
The day to file individual federal income tax returns (Form 1040/1040A/1040EZ) is April 15 unless April 15 is a weekend or holiday. If it is a weekend or holiday, it is the next day that is not a weekend or holiday. It is the same every year.
What is the federal tax on a gallon of gas?
18.4 cents per gallon for gas; 24.4 cents per gallon for diesel.
What is the ks gas tax on gasoline per gal?
State tax is 25 cents per gallon and Federal tax is 18.4 cents for a total of 43.4 cents.
Federal income tax returnes must be postmarked by which date each year?
Individual income tax returns must by postmarked by April 15. If April 15 is a Saturday, Sunday, or holiday, then the next day that is not a Saturday, Sunday, or holiday.
