A. No. The gasoline tax in most states is an excise tax, not a sales tax. Therefore, this is not a tax individuals can deduct, as opposed to a sales tax on products such as TVs and automobiles. Sales-tax deductions for individuals are generally based on a state-by-state table.
Like what you've read? ...Republish it and share great business tips!
Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...
We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.
The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.
" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/7252/hit-the-brakes-on-deducting-gasoline-tax "
- Prepare for payroll confusion in new year unless Congress takes action
- ... Or fine-tune your 2003 income with depreciation choices
- Stop 'buddy punching': Install a biometric time clock
- Joint-employer status may come down to who cuts the paychecks
- Hiring your child for summer creates bundle of tax breaks