Tax

When gas prices rose in 2008, one of the few bits of good news was that the federal government was bumping up the business mileage deduction to 55 cents per mile. Now that gas prices have stabilized in 2009, the Internal Revenue Service has reportedly decided to cut back on some of its ...

The Governor of Massachusetts is backing a new state proposal to tax larger gas-guzzling vehicles each year when drivers register them. The so-called "Hummer Tax" would be the first in the nation, and it is designed to directly discourage ...

Ask for a little help from the government, and the next thing you know you're asking for the government to protect you from the very help it's giving you. General Motors is restructuring its debt load by offering equity shares instead of cash to debt holders, namely the government and the UAW. The ...

European car ads are always mentioning how many grams of CO2 a car emits because more than twelve European countries tax drivers based on those emissions. Germany, home to a cadre of automakers for which CO2 parsimony is not a prime consideration, has held out from the carbon dioxide taxation ...

Oregon ran a pilot program in 2006 and 2007 that fitted 300 cars with GPS receivers, which kept track of the cars' mileage. The receivers also kept records of when the cars were on the road, noting whether they traveled during rush hour or not. When the drivers went to several specially-equipped ...

California isn't the only one taking aim at the pumps in an effort to raise state revenue. The Michigan state legislature is also proposing a hike in its gas tax that could potentially make its gas taxes the highest in the nation. The current nineteen cent per gallon tax on gas, and fifteen cent ...

var digg_url = 'http://digg.com/autos/Can_You_Handle_the_Truth_About_High_Gas_Taxes'; People have always had something of an aversion to hard truths. Most Americans say they want their country to get off foreign oil or help the environment, but when it comes to the bottom line, they want cheap ...

New York Governor David Paterson needs to close a $15.4-billion budget deficit, and has proposed 88 new fees and taxes to do it. One of them is aimed at New York car buyers: a 5% tax on all cars sold for $60,000 or more. Notice the phrasing "sold for," not "MSRP of". That means if you add $8,001 in ...

We knew last month that the Jetta TDI was qualified for the tax credit. Now, word is out that all of the new-generation clean diesels for Volkswagen (TDI) and Mercedes-Benz (Bluetec) will be joining the elite handful of vehicles that qualify for a federal alternative-powertrain tax credit. Formerly ...

Ding, ding... Round Three! When the city of London decided in November 2006 to tax gas-guzzling, emission-spewing vehicles (aka sports cars), we knew someone would put up a fight. It didn't take long before Porsche, the enthusiast-oriented German automaker, stepped into the ring. Round One ...