Biodiesel now NC tax exempt!

[dweymer]

Govenor signed it into law on 8/31/07.

http://www.ncga.state.nc.us/Sessions/2007/Bills/Senate/HTML/S1272v6.html

So the only tax due is federal tax, via form 720(I think thats the form) due quarterly.

 

[GSW]

Very promising.

The following are exempt:....
(9) Biodiesel that is produced by an individual for use in a private passenger vehicle registered in that individual's name pursuant to Chapter 20 of the General Statutes. For the purposes of this subdivision, the term 'private passenger vehicle' has the same meaning as in G.S. 20‑4.01."

 

[lomodyj]

Don't we still have to pay "road use" tax? Or is that the excise tax?

 

[GubNi]

Either way that's an awesome first step!

 

[mudonthetires10]

They ought to give diesels a break. Cheaper fuel to make, yet have the highest tax.
Retarded.

 

[dweymer]

Don't we still have to pay "road use" tax? Or is that the excise tax?

The way I read it no tax would be due to NC, form 720 to the US govt. for road tax is still due, I think @ $.27/gallon.

 

[Rich]

They ought to give diesels a break. Cheaper fuel to make, yet have the highest tax.
Retarded.

Politicians don't drive diesels.. simple as that.

 

[Caver Dave]

Politicians don't drive diesels.. simple as that.

There's plenty of pinheads in Raleigh driving huge MB sedans/G-wagons and other oilburners (Dodge & Fords)!

 

[dweymer]

It is easier to get a larger tax passed, since diesels are such a minority. If they raise the gas tax .01, millions will freak out.

 

[Green ford]

They're screwing Big Rigs the most!