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Form 2555-EZ online Fayetteville North Carolina: What You Should Know

The tax is 2 cents a gallon. Cumulatively, all intrastate carriers operating in excess of the following total loads of household goods would qualify for the exemption: • 60 gallons or fewer of gasoline or gasoline products; • 40 gallons or fewer of diesel fuel (or diesel oil) or diesel products; and • 20 gallons of jet fuel (or jet, jet-fuel blend, turbo-jet fuels and all other jet-fuel blends). • 20 gallons of other household chemicals: including but not limited to: cleaning and disinfecting products and personal hygiene products, dishwashing and sanitary ware and cleaners. For purposes of this regulation, the following are household goods: gasoline, diesel, jet fuel (including kerosene and liquid oxygen) and liquid oxygen, and all other household chemicals and household equipment as defined in 49 C.F.R. § 447.9(a)(3). As such, any carrier that meets or exceeds the required number of vehicles for which intrastate transportation of household goods is authorized can claim the exemption, on a taxable basis, against its gross intrastate profits (if any) for the taxable year. The gross intrastate profits of a carrier for a taxable year are the excess of the carrier's intrastate taxes (if any) over the carrier's total intrastate profits for the preceding taxable year. For example, a carrier operating in North Carolina with an excess of 60 gallons of gasoline and that would have a total intrastate oil and gasoline taxes of 1,000,000 would have intrastate oil profits of 200,000 and total intrastate gasoline profits of 400,000. So, for that year, any carrier operating in North Carolina that meets or exceeds the 60 gallon or less of gasoline exemption could claim the full deduction for 400,000. But, where did we get the 60 gallons of gasoline exemption? That comes from the Federal tax law (section 32 of the Fuel Tax Act), which provides that the amount to which a vehicle is being driven is the “gross vehicle weight” of the vehicle (not the actual passenger capacity and load), for purposes of determining the motor vehicle income exclusion (section 199(e)(2)(C) of the Internal Revenue Code). See 29 C.F.R. § 447.

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