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Posted by: thepinetree on 02/23/2015 12:54 PM
Updated by: thepinetree on 02/23/2015 01:33 PM
Expires: 01/01/2020 12:00 AM
:
BOE to Consider Lower Excise Tax Rate for Gasoline Rate Could Drop from 36 to 28.5 Cents Per Gallon
Sacramento, CA...Members of the California State Board of Equalization (BOE) will vote on whether to lower the excise tax rate on gasoline by 7.5 cents during its February 24, 2015 meeting at 5901 Green Valley Circle, Room 207, in Culver City. If adopted, the 28.5 cent excise tax will become effective on July 1, 2015 and last through June 30, 2016. Currently, drivers pay 36 cents per gallon in state excise tax. State law requires the Board to set the rate for the coming fiscal year by March 1st of each year, following a complicated formula known as the “fuel tax swap.” More information and a video explanation of this process is available here...
Who: Members of the Board of Equalization will be available for interviews following vote
What: Voting whether to lower the state excise tax rate on gasoline for Fiscal Year 2015-16
Where: Board of Equalization Culver City Office
5901 Green Valley Circle, Room 207
When: February 24, 2015 (meeting starts at 9:30, this is the second item on the agenda, about 20 minutes into the meeting)
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The five-member California State Board of Equalization (BOE) is a publicly elected tax board. The BOE collects $60 billion annually in taxes and fees supporting state and local government services. It hears business tax appeals, acts as the appellate body for franchise and personal income tax appeals, and serves a significant role in the assessment and administration of property taxes. For more information on other taxes and fees in California, visit www.taxes.ca.gov.
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