State Motor Fuels Tax Rate to Increase
RALEIGH -- The North Carolina motor fuels tax for gasoline, diesel and alternative
fuels will increase from 23.4 cents to 24.2 cents per gallon for the period
from July 1, 2003 to Dec. 31, 2003, Department of Revenue Secretary E. Norris
Tolson announced today.
The 24.2-cent rate includes a flat rate of 17.5 cents per gallon and a wholesale
component of 6.7 cents per gallon. The Secretary sets the amount of the wholesale
component twice a year, as delegated by the General Assembly.
The wholesale component is either 3.5 cents or 7 percent of the average wholesale
price of motor fuel during the preceding six-month base period, whichever is
greater. The average wholesale price is a weighted average of the wholesale
prices of gasoline and No. 2 diesel fuel. The average price for the last base
period was 95.92 cents per gallon.
The new tax rate should be used beginning with gasoline, diesel and alternative
fuel reports filed for July 2003 that are to be filed with the Department of
Revenue in August. The state motor fuels tax is included in the retail price
paid by consumers at the pump.
Public Affairs Office
P.O. Box 25000, Raleigh, NC 27640-0001
An Equal Opportunity Employer
Last modified on:
10/31/07 03:43:47 PM.