A $0.50 per gallon credit for propane and natural gas and an alt-fuel infrastructure incentive are among tax provisions retroactively applied to last year.
Many transportation companies are not taking advantage of some of the applicable tax credits. Here, a CPA provides details on fuel tax savings and a work opportunity credit.
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.
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.
The move would help taxpayers and school districts save nearly $14 million per year, according to the New York School Bus Contractors Association.
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.
Fuel and infrastructure tax credits for propane, natural gas and biodiesel are among tax provisions that have been retroactively extended through 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.
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.
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.
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