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IRS Lifts Taxes on Some Diesel Fuel
Friday September 02, 2005 3:04pm
Washington (AP) - The Internal Revenue Service acted Friday to expand the nationwide supply of diesel fuel by lifting some excise taxes. The action allows diesel fuel intended for farm equipment and government vehicles to be used by commercial trucks and other vehicles without a special tax. The decision lifts federal excise taxes typically imposed when diesel is used outside of farm and government work.
"Today's action is a relatively simple and straightforward step that will immediately increase the available supply of diesel fuel nationwide, which is especially needed in Gulf Coast relief efforts," said Treasury Secretary John Snow.
Treasury Department officials said the possibility of reducing the federal tax on gasoline is not under active consideration in the administration. They said it would require legislation to reduce the tax.
More on the link
IRS Lifts Taxes on Some Diesel Fuel
Friday September 02, 2005 3:04pm
Washington (AP) - The Internal Revenue Service acted Friday to expand the nationwide supply of diesel fuel by lifting some excise taxes. The action allows diesel fuel intended for farm equipment and government vehicles to be used by commercial trucks and other vehicles without a special tax. The decision lifts federal excise taxes typically imposed when diesel is used outside of farm and government work.
"Today's action is a relatively simple and straightforward step that will immediately increase the available supply of diesel fuel nationwide, which is especially needed in Gulf Coast relief efforts," said Treasury Secretary John Snow.
Treasury Department officials said the possibility of reducing the federal tax on gasoline is not under active consideration in the administration. They said it would require legislation to reduce the tax.
More on the link
