Petroleum-Based Gaseous Fuels shall be subject to a State Excise Tax equal to ten percent (10.00%) of the pre-tax retail price, which shall furthermore be subject to a floor of $0.50 per one thousand (1,000) cubic feet.
For example, if the pre-tax retail price of natural gas is $12.00 per one thousand (1,000) cubic feet, then the State Excise Tax shall be set to $1.20. If the Federal Excise Tax is set to $1.20, then the total retail price shall be $14.40 per one thousand (1,000) cubic feet (excluding any local taxes).
No comments:
Post a Comment