carapace – Not your father's america

TODAY IN ENERGY: Wednesday, May 1, 2013

State gasoline taxes average 23.5 cents per gallon but vary widely

The average state gasoline tax throughout the nation is 23.5 cents per gallon (cpg), but the range of state taxes is wide. Alaska and Georgia charge 8 cpg, and California charges 38.2 cpg. The state taxes are in addition to a federal tax of 18.4 cpg. EIA collects information on state gasoline taxes twice a year, and the latest data are for January 1, 2013.

See map and read more….

State Taxation of Internet Transactions, April 19, 2013:

http://www.fas.org/sgp/crs/misc/R41853.pdf

Friday, April 12, 2013

See Where Each 2012 Tax Dollar Went

JO COMERFORD, jo@ nationalpriorities.org

Comerford is executive director of the National Priorities Project. She said today: "Millions of Americans will file their 2012 federal income tax returns on Monday, but few know what happens to their tax dollars. That’s why National Priorities Project has launched Tax Day 2013 — to show exactly how each federal income tax dollar was spent in 2012, down to the penny.

   "This analysis finds that the largest share of federal income taxes went to the military, which accounted for 26.5 cents of every dollar. Next was health care (20 cents), followed by interest on the federal debt (13.6 cents). Meanwhile, education programs accounted for 3.5 cents on the dollar and science took a single penny." See the breakdown.

FROM: the Institute for Public Accuracy

How energy companies can benefit from tax exemptions

Numerous states offer very generous sales tax exemptions to the energy industry. Those existing exemptions can reduce a company’s tax expenditures on operational purchases such as equipment, supplies and services. Here, a brief review of sales tax exemptions in a few states where the energy industry is currently active: Texas, Kansas, Missouri, Ohio, Pennsylvania and West Virginia.

FROM http://www.ogfj.com/articles/2013/01/sales-tax-incentives–how-energy-companies-can-benefit-from-tax-.html?cmpid=EnlOGFJMarch122013.html

Refundable Tax Credits

report

The U.S. tax code contains many preferences that lower or eliminate the amount of taxes owed. Those preferences include deductions, exclusions, and tax credits, which can be either refundable or nonrefundable. Refundable tax credits differ from other preferences in a significant way: Whereas other preferences reduce the amount of taxes owed to the government, refundable credits can result in net payments from the government.

Tax Havens: International Tax Avoidance and Evasion, January 23, 2013:

http://www.fas.org/sgp/crs/misc/R40623.pdf