A Texas wholesaler and retailer is on the hook for a $1.9 million tax bill for tractor-trailer tires it bought from Chinese manufacturers.
The federal heavy vehicle use tax year began on July 1, and taxes for 2023–2024 are due by Aug. 31.
State tax rates for retail gasoline and diesel increased in 13 states in 2023
State gasoline taxes varied widely across the United States in July
Biden signs bill providing tax credit of up to $40,000 per truck
How much does it really cost to own a new car?
A gas guzzler tax is imposed on passenger cars that don’t meet minimum federal fuel efficiency standards.
E-commerce is giving brands of all sizes the opportunity to grow, but without the right partner to make the shopping experience local, they are likely losing out on sales.
Modern Shipper polled the Uber/Lyft Drivers Facebook group to see which apps rideshare drivers are really using
The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates. History 2020 will be memorable for many reasons. […]
A FreightWaves survey of top election issues as viewed by motor carriers found the economy top of mind ahead of Tuesday’s election. Taxes and regulations tied for second.
Declaring an undervalue on imported watercraft has triggered demands for millions of dollars in duty from the authorities. Experts say customs authorities will, in future, only become more efficient… and aggressive.
Diesel prices jumped in the Midwest this month due to a significant tax increase. Small carriers will have to adjust to keep costs down and maintain business.
There were only ever two good reasons for Amazon to build a headquarters in greater New York City.
New truck and trailer purchases currently include a 12 percent federal excise tax, adding tens of thousands of dollars to the purchase price. A new coalition is looking to lobby for the repeal of the tax.
Among news of poor performance in the Chinese economy, one of the most distressing signals for foreign retailers and manufacturers is Apple’s announcement on Wednesday that the company had reduced revenue expectations due to poor iPhone sales in China.
A mileage-based user fee pilot program using Azuga technology is helping to prove the viability of mileage-based vehicle taxes.
There is now a bill in both the House and Senate that would repeal the 12% excise tax on new trucks and trailers.
Cashflow Corner presented by TriumphPay …Nexus is when a trucking company owes taxes in multiple states, but many companies are not aware of when this happens because of confusing state laws.
Rep. Sam Graves (R-MO) is pushing a vehicle miles tax in Washington as the solution to funding road and infrastructure improvements rather than raising fuel taxes.
Cashflow Corner presented by TriumphPay …There is no shortage of deductions that truckers can take. You just need to know where they are.
The Owner-Operators Independent Drivers Association has joined efforts to change the current hours-of-service rules to allow drivers to stop driving when they are tired.
U.S. Chamber of Congress president, Thomas J. Donohue, is preparing for an uphill battle to push for a raise of the federal gas tax by 25 cents per gallon to help shape the debate about upgrading U.S. roads, bridges, airports and other infrastructure.
As it stands, the tax bill, as it’s currently drafted, looks to benefit the industry in general, but what it means for the individual trucker is less clear.
Filing your taxes can be confusing enough, try writing tax law. The complications in writing a tax law is one of the reasons the nation has not seen a major revamp of current law since the 1980s. Here are some of the key provisions in the draft bills.
As 2017 winds down, many carriers are taking a hard look at their tax situation. Is there anything they can do now that can reduce their tax liability? There is, and it comes in the form of equipment purchases.
The Republican tax plan has officially been unveiled, and it includes a permanent corporate tax rate cut from 35% to 20%. The $1.5 trillion plan also includes the shrinking of the number of tax brackets to just four and eliminates the alternative minimum tax. It does not change the pretax treatment of 401K plans, as had been discussed previously.
In the past 24 hours, President Donald Trump has issued an executive order that could allow small businesses and individuals to purchase insurance through association health plans, which would be sold across state lines and not have to conform to Affordable Care Act (ACA) regulations.
The U.S. Senate is set to pass a self-driving vehicle bill, and like similar legislation in the U.S. House passed early in September, it excludes commercial vehicles. The Senate bill will not include vehicles larger than 10,000 pounds, Reuters reported.
President Donald Trump and Republican leaders introduced their long-awaited tax reform plan on Wednesday. As expected, the plan calls for a significant cut to the corporate tax rate, from 35% to 20%, and the elimination of four of the seven individual tax brackets, creating brackets of just 12%, 25% and 35%.
As tax reform hits Washington, truckers weigh in on the importance of tax reform that is simple and rewards domestic investment.
An unlikely alliance has formed between FedEx and UPS over a common problem. Their respective chief executive officers co-wrote an editorial in the Wall Street Journal in an attempt to get the attention of Trump administration and policy makers regarding needed industry reforms.
A group of more than 250 House lawmakers are pushing for any tax reform package to include a permanent fix to the Highway Trust Fund. Also, Trump pushes apprenticeships, Britain’s Brexit problem and manufacturing hitting record levels.
After months of talking about his $1 trillion infrastructure improvement plan, President Donald Trump is finally set to unveil more details on the proposal today. Also, transportation’s best CEOs and there were fewer trucking jobs in May.
While Congress and the states kick around proposals to increase funding for infrastructure, Robert Atkinson, an opinion writer for The Hill, has backed the idea of charging big rigs taxes based on the number of miles they drive.
Whether you are a large or small trucking company, or even a driver, there is a lot to like about President Donald Trump’s proposed tax plan, even if many of the specifics are lacking at this point.
