California – BOE Adjusts Gasoline Excise Tax Downward by $0.035

SALT Report 3293 – On February 25, 2014, the California State Board of Equalization voted unanimously to adjust the gasoline excise tax down from $0.396 to $0.36.

“Every year, the BOE sets the rate based on the projected price and number of gallons drivers will purchase in the upcoming fiscal year. The upcoming annual rate also accounts for the difference in the actual and estimated sales tax revenue in the prior fiscal year that would have been collected under the prior system.”

For Further Information:             

Gasoline Excise Tax NR 30-14-G