diesel prices

[Loren49]

Don87 - Could you post some evidence to support your claim that gas station owners are taxed on gross receipts. Simply repeating the claim does not give it validity.

Tax Challenges of Business Income
Gross Income

To calculate gross income, first determine net receipts (gross receipts minus returns and allowances) and minus the cost of goods sold. Returns and allowances include cash or credit refunds made to customers, rebates and other allowances off the actual sales price. Then add any other income, including fuel tax credits. Gross income must be determined first before deducting business expenses


The following site shows that most changes in the Internal Revenue Code literally require an Act of Congress not simply the decission of a President.
Tax Code, Regulations and Official Guidance

A review of the 1040 form and schedule C below will make it clear that all costs of operation are deducted.
http://www.irs.gov/pub/irs-pdf/f1040.pdf
http://www.irs.gov/pub/irs-pdf/f1040sc.pdf


Loren

 

[varmint]

Guys, get real on your "claims"... small businesses don't pay taxes on gross receipts, not in your worst nightmare. Many are subchapter S corporations, and their taxes are indeed much like yours and mine, and they, like us, pay taxes on adjusted income. Period. I just read a good explanation of how the country has shifted the financial balance from the many to the few, and here's a link, should anyone be interested:

Thomas F. Schaller - baltimoresun.com

Now, back to ranting about diesel fuel prices!

 

[Charolais]

Guys, get real on your "claims"... small businesses don't pay taxes on gross receipts, not in your worst nightmare. Many are subchapter S corporations, and their taxes are indeed much like yours and mine, and they, like us, pay taxes on adjusted income. Period. I just read a good explanation of how the country has shifted the financial balance from the many to the few, and here's a link, should anyone be interested:

Thomas F. Schaller - baltimoresun.com

Now, back to ranting about diesel fuel prices!

Uhh Rush, Glenn and Sanity said. LOL Thanks, you got it right.

Fuel prices made the largest increases with Nixon, Regan, both Bushes. I think I see a pattern. When you mess with the middle east this is what you get. They get rich and we get poorer. Get use to it. It's the new world of oil.

 

[crazyal]

Just be thankful for global warming keeping the winter warmer than normal. If heating oil supplies had been used up at a faster rate then it would have shot up like gas has. I think this summer is shaping up to be real ugly.

 

[crazyal]

Guys, get real on your "claims"... small businesses don't pay taxes on gross receipts, not in your worst nightmare. Many are subchapter S corporations, and their taxes are indeed much like yours and mine, and they, like us, pay taxes on adjusted income. Period. I just read a good explanation of how the country has shifted the financial balance from the many to the few, and here's a link, should anyone be interested:

Thomas F. Schaller - baltimoresun.com

Now, back to ranting about diesel fuel prices!

Read it and found it lacking. I notice that when talking about real tax rates the countries that came up were not countries leading the world in mfg. For example, say China or Korea. Secondly it was missing state, local, inventory, equipment, and a bunch of other taxes and fees that US businesses must pay.

 

[varmint]

The idea of how to even begin to talk about the "costs" of doing business in China sort of boggles my mind. I don't think anybody here wants to emulate China's way of doing manufacturing, from the Party's deciding who gets what, to the environmental disasters, to the bribes and uncertainties if you piss off the wrong people. From what I know, it can be a real scary place. Korea has issues, too. At least here in the good old USA, the mob is about the only scary thing affecting businesses, and you don't hear about them so much any more. Maybe if I were in the concrete business in NYC?

 

[peabody]

The cancelled oil pipeline was the 2nd one to be built. The 1st Keystone was operational in 2009. Right thru ND, SD to Chicago and OK. It's bringing 750,000 barrels a day of Canadian crude into the country right now - as you read this!

Keystone XL (2nd) was headed to tidewater in Texas - for export - yeah, you read that right!

Drilling in Alaska is higher now than it was at the beginning of the pipeline - yeah, that's right, too! Conoco Phillips is set to explore in the National Petroleum Reserve No. 4 this next year with a new bridge slated to be built across the Sag River. And Shell is going offshore in the Beaufort and Chuckchi Sea's this Spring - yeah, that's right, too!

Turn off Fox News.... and watch CNN once in awhile - you might learn something.

AKfish

Hahahahahaha. Turn on cnn ......hahahahahaha. now that was funy right there! !!
I just about flipped outta my chair reading that! !!!
Cnn is obamas hero! !! He loves them! !!! They are all anti-america.
peabody

 

[Soundguy]

4.6-4.95 here, depending on how close to the hiway you are...

 

[Iowachild]

Here is a link some of you might find useful: Bloomberg energy futures in New York Harbor.

Also for those of you interested, here are the Wholesale prices for: #1 kerosene = $3.65, home heating oil = $3.37 and clear ULSD = $3.48. these are the wholesale price being charged today (2/26/12) at the refinery where I work. Add on all applicable taxes to arrive at the final price!!

Extra note: Motor fuel taxes in PA

 

[danito]

Guys.. Face it, no matter if you hate or love the current administration. Oil is a limited ressource, we are nearing the end of the 'easy-to-extract' peak, and in the following years it will cost more & more to find & extract oil. Not to mention the Earth population is expanding and many former third-world countries with huge populations, such as China and India, are getting richer. It's economics 101. Less supply, more demand, and the ressource costs more to extract. No government can do anything about this; yes they can, for short period of time, lower a bit the price of gas/diesel by promising some part of Alaska or a pipeline but in the middle to long term range, it doesn't change anything. Face it oil prices will go up and up and up, until there is an alternative or the ressource runs dry...