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Articles/News with taxes tag

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Succession planning: 5 questions to ask yourself
September 17, 2015
If you are a business owner in the school bus industry, you might not have much free time to think about succession planning. But a plan for the future ownership of your business is not optional.
Smashed school bus returns in Michigan campaign
April 30, 2015
A union has rehashed the prop from a campaign it ran last year, this time for a ballot measure to raise the state's sales tax to generate more money for road repairs and schools. Pupil transportation associations have objected to the image.
New York contractors call for sales tax exemption for school buses
February 5, 2015
The move would help taxpayers and school districts save nearly $14 million per year, according to the New York School Bus Contractors Association.
Biodiesel use decreased in 2014
January 26, 2015
The U.S. biodiesel market fell from nearly 1.8 billion gallons in 2013 to 1.75 billion gallons in 2014. The National Biodiesel Board points to policy uncertainty in Washington.
Alt-fuel tax credits extended
December 30, 2014
Fuel and infrastructure tax credits for propane, natural gas and biodiesel are among tax provisions that have been retroactively extended through 2014.
District asks voters to fund school bus replacement
October 28, 2014
Arlington (Wash.) Public Schools leaders are looking for support for a two-year levy on the Nov. 4 general election ballot expected to generate $1.5 million each year to replace old school buses. Nearly half the district’s fleet is at least 13 years old and fully depreciated.
Fuel tax exemption must be protected
September 18, 2014

School bus operations have been exempt from the federal fuel tax since 1978. Keeping it that way is a key concern for many in the industry.

Update: Indiana gov. signs bill on bus funding losses
March 31, 2014
The bill, signed into law last week, is designed to give flexibility to school districts facing transportation budget reductions. The legislation allows districts that have lost at least 10% of their transportation fund levies due to property tax caps to use money from other funds to pay for transportation through 2016.
Bill aims to help deal with school bus funding losses
March 4, 2014
The Indiana legislation would allow school corporations that have lost at least 10% of their transportation fund levies due to circuit breaker credits (property tax caps) to use money from other funds to pay for transportation through 2016. The bill unanimously passes the state Senate.
Over 2,000 propane school buses now running in Texas
October 10, 2013
The Propane Council of Texas reports that about 75 Texas school districts are operating buses powered by propane autogas. A 50-cent-per-gallon tax credit for propane has helped districts generate big savings in fuel costs.
Bill would exempt Louisiana districts from fuel tax
February 11, 2013
Under the new legislation, fuel used for school buses operated by municipal and parish school boards would not be subject to the state fuel tax. Currently, contractor-operated school buses in Louisiana qualify for a refund of three-fourths of the fuel tax.
Texas districts see cost savings from propane buses
January 23, 2013
Dallas County Schools is among the school systems in the state running buses on the fuel, and it reportedly saves about $500,000 annually with the $0.50-per-gallon tax credit. Officials from the Propane Council of Texas say that with the recent extension of alternative-fuel tax credits, districts will be able to save more money this year.
Congress passes alt-fuel tax credit extensions
January 3, 2013
The fiscal deal passed by Congress this week includes provisions that benefit fleets that use alternative fuels. The bill, expected to be signed into law by President Obama, extends tax credits for such fuels as propane, compressed natural gas and biodiesel — all of which power many school buses.
School bus fuel tax exemption preserved
February 23, 2012
Repeal of the exemption was under consideration in the Senate Finance Committee. The National School Transportation Association called on committee members to defend against the effort, which association officials said “would have been tantamount to imposing a tax increase on private school bus transportation providers.”
School bus operators still eligible for fuel tax exemptions
September 22, 2010
After some IRS offices challenged operators’ claims of exemptions for smaller school buses earlier this year, the NSTA presented the issue to members of Congress, who asked Treasury Secretary Timothy Geithner to clarify the tax policy. Geithner stated that the law does not limit the fuel tax exemption based on size of the bus, and the IRS cases have been dismissed.
Pennsylvania upholds tax-exempt status for buses, parts
July 20, 2010
Earlier this year, Gov. Edward Rendell proposed to repeal sales tax exemptions for 74 goods and services, including those for school buses and their parts, but the move received little support from the General Assembly. The Pennsylvania School Bus Association, which took action to oppose the proposal, is prepared for a possible resurgence under a new administration next year.
Incentive for school bus seat belts signed into law
June 3, 2010
The Connecticut governor approves a measure that cuts the sales tax on school buses equipped with three-point belts — but does not make them mandatory.
Bill would cut sales tax on school buses with belts
May 4, 2010
A proposal to require seat belts on Connecticut school buses was defeated, but legislation that would create a financial incentive for equipping buses with three-point belts was overwhelmingly approved by the House.
Contractors could be exempt from paying taxes on buses
April 6, 2010
New Mississippi legislation would allow companies that operate buses and other vehicles to transport students to and from school to waive ad valorem taxes on their units if they are under contract to a school board on or after July 1.
Tax planning for 2009
October 1, 2009

The February 2009 issue of SCHOOL BUS FLEET featured a tax planning article for school bus contractors for 2008 and beyond. Coincidentally, the same month ...

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