New York Gas Tax Suspended/ Broome’s Tax Capped
The flip of the calendar to June and the start of New York’s new budget cycle means the state’s 16-cents a gallon tax on gasoline is now suspended through December.
According to Triple-A, the average price of gas May 31 in Binghamton was $4.884 a gallon for regular. Early in the morning of June 1, the listed price at some local stations had already been rolled back to $4.67.
In addition to the suspension of the state tax on gas, Broome County has placed a cap on the price at which local tax is collected at three dollars a gallon.
Assemblywoman Donna Lupardo, who supported the suspension of the state gas tax to try to counter soaring gas prices linked to higher demand, the war in Ukraine, inflation and even price gouging, says just the state portion was expected to save New York motorists over $585-million. The Endwell Democrat says with Broome’s tax cap, gas will cost about 20 cents per gallon less in Broome County.
According to the New York State Department of Taxation, “retail sellers of motor fuel and highway diesel motor fuel must exclude the excise tax and New York State sales tax from the prices of these fuels at the pump.”
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