Wright Express on gas excise in American Jobs Creation Act
Dec. 13, 2004
According to Wright Express, the American Jobs Creation Act, slated to go into effect January 1, will require that gasoline excise taxes be subject to similar rules as diesel fuel excise taxes. That, said the payment processing provider, could impact the handling of Federal gasoline tax exemption while not changing the current methodology for handling state and local taxes.
“Wright Express has been working with an ad hoc industry group since October to arrive at a solution that works for all the parties involved,” said Fred Madiera, Wright’s vp—relationship management. “[As a result] we will continue to provide our gasoline tax-exempt program tour customers, and bill our fleets net of tax. In addition, the company is in the process of expanding our tax-exempt program to include diesel fuel.”
He said other members of the ad hoc group include oil companies, state fleet administrators, third-party fleet management firms and tax-exempt groups that rely on Wright and its partners to support their cash flow by exempting eligible fuel taxes.
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