New York Adjusts Commercial Vessel Petroleum Business Tax Rates

The New York commercial vessel petroleum business tax rates are adjusted for the fuel consumed for the period January 1, 2019, through December 31, 2019. During this period, tugboat, towboat, and other commercial vessel operators using the working-days method to compute the petroleum business tax should use the following rates for use of non-highway fuel:

– $0.177 per gallon for motor fuel; and

– $0.1595 per gallon for diesel motor fuel.

Also, New York provides a schedule that lists the tax-per-trip method for tugboat and towboat operators.

Form PT-350, Petroleum Business Tax Return for Fuel Consumption – Commercial Vessels

Information and rates are provided in Form PT-350, Petroleum Business Tax Return for Fuel Consumption – Commercial Vessels. Previously, the information was provided in Publication 908-CV, which has been discontinued.

Form PT-350, Petroleum Business Tax Return for Fuel Consumption – Commercial Vessels, New York Department of Taxation and Finance, January 2019

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