Beware the Pump: Another Gas Tax Is on the Way
If you’ve had enough with California’s high gas prices, then you might not want to keep reading, because just when you thought things couldn’t get any worse, they are about to. That’s because when 2015 rolls around California residents are going to have to pay another new gas tax. In fact it’s a double-digit hike and many people aren’t even aware of the increase.
New Gas Tax
However, aware or not, starting next year a new law kicks in that will boost the price of gasoline by 12 cents at the very least. It’s all part of the state’s effort to reduce greenhouse gas emissions. Because this latest increase is aimed specifically at transportation fuels, diesel and gas will likely feel the brunt of the increase. However, the fuel trade market is anything but stable, which means the increase could reach as high as 40 cents a gallon.
Not For Road Improvements
At least the extra money will go to help repair state freeways and other roads, right? Unfortunately no. That’s right, none of the revenue collected from this new tax will go towards road construction or improvement.
When Is Enough, Enough?
This is another example of citizens paying more taxes than they really should. In fact, with this latest increase, California residents could be paying as much as a dollar a gallon or more next year in gas taxes alone. If you need help learning how to save as much of your income in other areas, then GROCO can help. Just click here.
http://www.ocregister.com/articles/new-615000-gas-tax.html
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Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com. GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world.
Alan L. Olsen, CPA, Wikipedia Bio
GROCO.com is a proud sponsor of The American Dreams Show.
The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business.
Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind.
The American Dreams show became the solution, first as a radio show and now with YouTube videos as well. Always respectful of interview guest’s time, he’s able to give access to individuals information and inspiration previously inaccessible to the first-time entrepreneurs who need it most.
They can listen to venture capitalists and successful business people explain first-hand, how they got to where they are, how to start a company, how to overcome challenges, how they see the future evolving, opportunities, work-life balance and so much more..
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