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Discussion in 'General Industry Discussions' started by lb59, May 15, 2006.
Are you paying the on rod tax for gasoline you're using in your equipment?
uhhhh, if I pump it at the station, yes.
Only way to get out of it is use farm fuel (or offroad).
Couldn't tell you where to get it, likely at a feed & seed / farmer's outlet thou in my case I have to drive so far into the country, it's not worth the savings.
Cant you claim the road Tax portion back in your end of year taxes?
I know I can here in New Zealand but it is such a performance, but since it is 25 % of the cost of petrol I will make sure I claim it .
The Lawn Ranger
Taupo New Zealand
Oh I am sorry, I am in the USA hence why I came off with that answer.
No, here the Tax department gives us an allowance (or deduction) of around 31 cents / mile or thereabouts, and we can either take that or we can itemize deductions... But itemizing means keeping every receipt and it is a lot of work and as a rule, with anything except brand-new vehicles, the per mile deduction usually works to our advantage.
Look for form 4136 off irs.gov
Read Pub. 378 also.