80.9 F
New York
Sunday, May 26, 2024

** New Yorkled Magazine **

HomeNew York City / NYCGovernor Hochul: NYS Gas And Diesel Tax Holiday = Suspension of Taxes

Governor Hochul: NYS Gas And Diesel Tax Holiday = Suspension of Taxes

 

Governor Hochul: NYS Gas And Diesel Tax Holiday = Suspension of Taxes

Suspension of Certain Taxes on Motor Fuel and Diesel Motor Fuel Extends through December  

Initiative to Provide an Estimated $609 Million in Relief for Working Families and Businesses  

25 Counties Have Elected to Cap Local Sales Tax per Gallon for More Savings  

Governor Kathy Hochul today announced the suspension of certain taxes on motor fuel and diesel motor fuel takes effect today, Wednesday, June 1, 2022. The motor fuel excise tax, State sales tax, and Metropolitan Commuter Transportation District sales tax on motor fuel and diesel motor fuel will remain suspended through the end of the year. This fuel taxes suspension will provide a reduction of at least $0.16 per gallon statewide, with some counties providing additional savings per gallon.

“Fuel prices have surged in recent months, hurting working families and small businesses the most, and it is crucial that we provide New Yorkers relief,” Governor Hochul said. “By suspending certain fuel taxes for the next seven months, New York is providing some $609 million in direct relief to New Yorkers — a critical lifeline for those who need it most. At a time when families are struggling because of economic headwinds and inflation, we will continue to take bold action to reduce the economic burden on New Yorkers and get money back in their pockets.”

Counties Contribute to Additional Savings 

Twenty-five counties across the State have also taken action to set temporary caps on the sales tax charged per gallon of gas and diesel. This program was authorized as part of the State’s FY 2023 Enacted Budget. 

Beginning today, Delaware, Dutchess, Erie, Monroe, Putnam, Rockland, Saratoga, Schenectady, Seneca, Ulster, Wayne and Yates counties will collect tax only on the first $2 charged per gallon of gas and diesel, regardless of the actual price at the pump.  

Allegany, Broome, Cattaraugus, Chautauqua, Jefferson, Livingston, Nassau, Niagara, Oneida, Onondaga, Oswego, Suffolk and Westchester counties will collect tax only on the first $3 charged per gallon of gas and diesel, regardless of the actual price at the pump.  

These actions will save New Yorkers additional cents per gallon with each customer’s specific savings depending on the local sales tax rate and the difference between the price per gallon and the local cap. You can view the local sales tax rates on certain motor fuels in your county here

Information for Distributors, Wholesales, and Retailers 

Governor Hochul had previously directed distributors, wholesales, and retailers of motor fuel and highway diesel motor fuel to prepare for the upcoming suspension of these taxes. Those businesses can learn more here

 

Latest Posts

Mayor Adams and CUNY Chancellor Matos Rodriguez Announce Near $12 Million Expansion of CUNY Inclusive Economy Initiative

Mayor Adams and CUNY Chancellor Matos Rodriguez Announce Near $12 Million Expansion of CUNY Inclusive Economy Initiative New York City, May 20, 2024 — Mayor...

Big Apple Magician Steve Cohen Wins National Award for Intimate NYC Show “Chamber Magic”

NYC's "Millionaires' Magician" Steve Cohen Honored for Close-Up Magic Masterpiece Steve Cohen, a staple of the NYC magic scene and known as the “Millionaires’ Magician,”...