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Federal Excise Tax

Bipartisan Federal Excise Tax Repeal Bill Introduced

Representatives Doug LaMalfa (R-CA) and Collin Peterson (D-MN) have introduced a bill, H.R. 2381, that aims to repeal the federal excise tax and was applauded by several truck dealer associations that have been actively pushing for its removal.

NTEA Submits Comments for Proposed FET Regulations

NTEA The Association for the Work Truck Industry has submitted comments to the Internal Revenue Service about their proposed regulations governing the Federal Excise Tax (FET) on heavy trucks, tractors, and trailers.

Truck Tax Repeal Bill Introduced in Congress

ARLINGTON VA – A bill introduced in the U.S. House of Representatives on March 29 would, if passed by Congress, repeal the 12 percent federal excise tax on truck and trailer purchases.

EPA Names Idle-Reduction Systems Eligible for Federal Excise Tax Exemptions

Last year, the U.S. Congress granted an exemption from the 12-percent federal excise tax for truck idle reduction systems. Recently, the Environmental Protection Agency (EPA) released a list of approved idle reduction systems eligible for the federal excise tax exemption. The exemption applies to sales and installation of these systems since Oct. 4, 2008.