Items related to Collection Procedures for Excise Taxes on Gasoline,...
Collection Procedures for Excise Taxes on Gasoline, Diesel, and Nongasoline Aviation Fuels (S, 2075, S. 2003, S. 2062, S. 2067, S. 2118, and S. 2128): ... Agricultural Taxation of the Senate Commit - Hardcover
Synopsis
A clear look at proposed tax changes for diesel and nongasoline aviation fuels, with relief paths and new rules.
This edition outlines how excise taxes would apply after March 31, 1988, including which uses may qualify for tax relief or refunds. It covers who must register, the role of Treasury in issuing regulations, and how exemptions are to be realized through refunds or credits. The material also describes bill-by-bill proposals and their effective dates, offering a concise snapshot of possible changes to the tax landscape for fuels.
- Exemptions and refunds: exemptions for uses such as farm use, state and local government use, and certain educational or aircraft museum uses; refunds or credits for those engaging in exempt uses.
- Buyer and seller requirements: registration, possible bonding, and financial responsibility standards for sellers and producers; case-by-case authority for sales without payment of tax in some cases.
- Coverage and timing: rules for taxable fuels, the timing of tax collection, and the effective dates tied to enactment or specific dates like March 31, 1988.
- Definitions and scope: who counts as a producer, what constitutes off-highway use, and how gasohol blending and related exemptions are handled.
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