Kentucky & North Carolina Change Fuel Tax Rates Effective April 1, 2015
KENTUCKY & NORTH CAROLINA CHANGE FUEL TAX RATES EFFECTIVE APRIL 1, 2015
Kentucky and North Carolina have announced changes to their fuel tax rates effective April 1, 2015.
In Kentucky, the rates for the quarter beginning April 1, 2015 are $0.246 per gallon for gasoline and $0.216 for special fuel. These rates are based on the average wholesale price of fuel. The average wholesale price of fuel has been set under new legislation for the entire period from April 1, 2015 through July 1, 2016. Beginning July 1, 2016 the determination of the average wholesale price of fuel will be set annually.
In North Carolina, legislation just passed by the North Carolina legislature decreases the fuel tax to $0.36 per gallon. Beginning January 1, 2016 the rate will decrease to $0.35 per gallon and then decrease again on July 1, 2016 to $0.34 per gallon. Beginning January 1, 2018 the rate will be set annually for the calendar year using a formula that incorporates the prior year’s tax rate, the percentage change in population for the applicable calendar year and the Consumer Price Index.