Tax & Accounting Blog

Gas Tax Holiday Gaining Steam in New York

Blog, Indirect Tax May 31, 2011

The New York State Senate has approved a bill that would exempt taxes on gasoline purchases during three holiday weekends.

The bill, S. 4880-B, would eliminate the state gasoline taxes which includes the state petroleum business tax, states and local sales taxes, and motor fuel excise tax. From Friday to Monday during Memorial Day weekend, Fourth of July weekend and Labor Day weekend the exemption would be in place.

The bill will now move onto the New York State Assembly as it continues to move through the state legislature.