tax News Updates

Business

IRS Extends Highway-Use Tax Deadline to Nov. 30

The Internal Revenue Service is advising truckers and other owners of heavy highway vehicles that their next federal highway use tax return, normally due Aug. 31, will instead be due Nov. 30.

July 18, 2011
Business

N.C. Diesel, Gasoline Taxes to Rise 2.5 Cents in July

Motor carriers filling up in North Carolina will be paying 2.5 cents more in diesel taxes beginning July 1.

June 23, 2011
Government, Business

Maine Votes to End Fuel Tax Indexing

Maine’s legislature has approved a two-year, $637 million transportation funding bill that would end annual fuel tax increases tied to inflation beginning next year.

June 21, 2011
Business

Conn. Boosting Diesel Tax By 3 Cents in July

Connecticut’s diesel tax will go up 3 cents on July 1, pushing the levy from 39.6 to 42.6 cents a gallon under a recent budget agreement between state legislators and Gov. Dan Malloy (D).

June 1, 2011
Business

Measure Would Provide Truckers Tax Break for Investing in Some Safety Technologies

Fleets could receive tax credits for certain advanced safety technologies under a bill introduced this month in the House of Representatives.

May 23, 2011
Editorial, Business

A Welcome ā€˜No’ to a VMT Tax

The news from the Obama White House that it has no intention of pursuing a new tax regime based on the number of miles vehicles travel is most welcome for the trucking industry.

May 16, 2011
Business

Draft of White House Plan Mulls Mileage Tax, New Tolls

A draft of the Obama administration’s transportation reauthorization plan calls for creation of an office within the Federal Highway Administration that would spend six years studying a vehicle-miles-traveled tax to help fund the nation’s surface transportation system.

May 9, 2011
Business

Industry Lauds U.S. Congress for Push to End Tax Provision

Trucking industry officials have hailed congressional action to repeal an unpopular Internal Revenue Service reporting requirement contained in the 2010 health-care reform law and said they were confident Congress would approve repeal.

March 21, 2011
Perspective, Business

Opinion: S Corporations and Trucking

What was the most important event that occurred in 1958? The creation of NASA? Perhaps the birth of the King of Pop? For privately owned trucking and logistics companies, there is only one answer: tax legislation permitting S corporations.

March 9, 2011
Business

Obama Backs Infrastructure Development in Chamber of Commerce Speech

President Obama urged businesses to join him in an effort to change what he termed ā€œburdensomeā€ corporate tax code, while touting investment in infrastructure, Bloomberg reported.

February 8, 2011