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The business mileage reimbursement rate for 2019 increased 3.5 cents to 58 cents on Jan. 1 after two years of minimal change, the Internal Revenue Service announced late last year.
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The Internal Revenue Service has increased the business mileage reimbursement rate to 54.5 cents from 53.5 cents for 2018. The new rate will go into effect on Jan. 1.
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The state of California commissioned a report by CalTrans to look into the viability of a mileage-based tax on all vehicles to eventually replace the tax on fossil fuels.
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A $7,500 federal tax credit that has fueled sales of plug-in electric vehicles in recent years could be eliminated if House Republicans can include the proposal in the tax cut bill now under discussion, reports Reuters.
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California's Gov. Jerry Brown has proposed raising gasoline taxes and vehicle fees to raise $5 billion per year to repair the state's crumbling streets, highways, and bridges.
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The Internal Revenue Service has reduced the business mileage reimbursement rate for one half of a cent to 53.5 cents from 54 cents. The new rate went into effect on Jan. 1.
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The Auto Truck Group is urging small businesses to take advantage of the federal Section 179 deduction on equipment that allows a deduction of as much as $500,000 on new and used equipment purchases.
Read More →The National Conference on Weights and Measures (NCWM) has voted to approve the diesel gallon equivalent (DGE) standard as a legally authorized method of sale for natural gas that is sold as fuel for vehicles.
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The industry consensus is that fleet license & title services will become more expensive in future years as vehicle registrations are blocked for unpaid tolls & violations. Transaction fees will increase to offset DMV budget shortages.
Read More →Ambitious Government plans to make the UK the world leader in electric car adoption could be hampered by its decision to increase company car benefit-in-kind tax on those vehicles by 500 percent in 2015/16 with a further rise due in 2016/17, according to a UK fleet association.
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