Sunday, October 5, 2014

State Gas Taxes

The federal government imposes a tax that amounts to about $0.18 per gallon. The money raised through this specific tax is used to finance major repairs to interstate highways and bridges, as well as roads through national parks and other public infrastructure. Recently, the issues surrounding the desperate state of the nation’s road and bridge network have led many to believe that a tax hike might be in order to address the crumbling roads, freeways, and bridges unless another solution is proposed.

On a state level, the tax situation varies wildly from state-to-state. Automotive resource Mojo Motors examined a study recently that broke down the gas prices in each state respectively, and the results are rather intriguing: state-level gasoline taxes (excluding the federal tax) varied from $0.124 cents in Alaska at the least, to $0.505 cents in New York at the highest. You can check out the map below for a complete breakdown of where each state falls:
Read more: http://wallstcheatsheet.com/automobiles/this-chart-will-tell-you-how-much-youre-paying-in-gas-taxes.html/?a=viewall#ixzz3FKQQibwh

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