Connecticut trucking firms get diesel tax break

Excerpt from Connecticut Mirror article:

While Gov. Dannel P. Malloy and the legislature grabbed plenty of headlines this spring by not hiking state taxes, a huge drop in a crucial state fuel tax this summer has garnered less attention.

Connecticut’s tax on diesel fuel, which is fixed annually each summer with a statutory formula based on wholesale gasoline prices, fell 17 percent from 50.3 cents per gallon to 41.7, the Department of Revenue Services reported.

The levy also is down 25 percent from the 54.5 cents per gallon rate imposed two years ago.

“Fuel is the second-biggest cost to a trucking company besides labor,” Joseph R. Sculley, president of the Motor Transport Association of Connecticut, said Friday. The Association represents more than 800 trucking and trucking-related businesses.

And Sculley noted that lower transportation costs assists a wide range of retail goods that are transported to stores by truck.

Read the full article online.