In recent years, the rise in gas prices has caused stress for many Americans, particularly those whose livelihoods depend on large quantities of fuel, such as farmers and industrial producers. However, there is now a glimmer of hope as these professionals can reclaim a portion of their gas expenses.
In 2022, North Dakota will implement a rebate programme for state fuel taxes on petrol and alcohol. Farmers and ranchers are eligible for refunds of up to 23 cents per gallon on gas and gasohol purchases, while industrial users can earn up to 22.5 cents per gallon.
Petrol, a mixture of 90% petrol and 10% ethanol, is widely used in internal combustion engines. The refunds are made possible through the taxation of vehicle fuels, which is normally used for highway upkeep. North Dakota's State Tax Commissioner, Brian Kroshus, recognises, however, that industrial consumers, farmers, and ranchers do not rely extensively on public roadways for their equipment, making them eligible for these reimbursements.
To benefit from this opportunity, producers must submit their applications through the state's tax website by June 30th, enabling them to reclaim a portion of the money spent on fuel.
To visit state's tax website,click here
Photo Credit: GettyImages-kn1
Categories: North Dakota, Energy