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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (861526)	6/1/2015 2:29:37 PM
From: Wharf Rat	Read Replies (1) \| Respond to of 1575184

Federal and state? 65 cents would be a good starting point. State gasoline tax will drop 6 cents per gallon July 1 The cut will take effect July 1 and will reduce the state excise tax on gasoline to 30 cents from 36 cents per gallon. California drivers would go from paying the nation’s second-highest federal and state gasoline taxes to the fourth-highest, all else being equal. California drivers now pay 63.79 cents per gallon on average in federal and state gasoline taxes, behind only Pennsylvania’s 68.9 cents, according to the American Petroleum Institute. (This includes 18.4 cents in federal excise tax. It excludes the cost to refiners of complying with California’s cap-and-trade system.) California drivers pay two types of state taxes at the pump: a sales tax, which is a percentage of the price, and an excise tax, which is a set amount per gallon. Before 2010, drivers paid the full sales tax rate (then 8.25 percent), and an excise tax of 18 cents per gallon. But a fuel tax swap in 2010 lowered the sales tax rate to 2.25 percent on gasoline only. It also required the board to set the excise tax rate once a year at a level that would bring in the same amount of tax revenue that would have been generated under the old structure. The board must set the excise tax by March 1 each year, with the new rate to take effect July 1. sfchronicle.com