If you use propane to power forklifts in your operations, or other alternative fuels in your fleet, there may be an opportunity to file a Federal excise tax claim for a credit or refund related to the fuel used during 2017.
Fuel costs are a major cost of doing business when operating a fleet of any size. Purchasing new vehicles can significantly reduce fuel cost, but can be prohibitive as a capital investment. Most fleet managers are unable to replace their entire fleet and may continue to operate older vehicles for some time. This means that proper maintenance to improve and maintain fuel efficiency is an important, and cost-effective, way of reducing overall costs. Here are a few things you can do
Throughout the year, Sokolis Group must update its records for all of the changes made to fuel taxes. It’s a tedious task to sift through the information scattered across the internet for each state. Even though there are web sites that consolidate fuel tax rates in one place, identifying potential exemptions takes more research than just glancing at summarized data. That usually means a visit to a state’s site and digging into their tax regulations.
Traditionally, state governments have funded road construction through taxes on fuel. As vehicles become more efficient, though, the income from fuel tax is affected, with long-term concerns that it might eventually become insufficient. An increase in electric cars – and the introduction of electric trucks (Tesla recently unveiled an electric semi-truck) is starting to cause revenues to drop. With more than 90 percent of federal Highway Trust Fund receipts being collected at the pump, this is a very real concern.
Lately, I’ve seen a lot of headlines that highlight companies that are adding or replacing vehicles in their fleets with natural gas units. Various suppliers are also investing millions of dollars to expand their distribution networks so that CNG and LNG can be obtained more conveniently.
Its 6:45PM and dinner’s on the table back home and your family is waiting, but you’re still at the office working on four different projects. Two of those projects need to be finished by Noon tomorrow. Sound familiar? That’s the business environment we live in today. Do more with less. 60+ hour work weeks. Lean initiatives. And let’s not forget the proverbial if it’s not broke don’t fix it. How do you make improvements in your business if you simply
Years ago, companies were hesitant to direct drivers to fuel stop networks. They were fearful drivers would get upset and leave. Today we are facing the same issues we did back then. “Driver Shortage” But, a lot has changed since then. The need for a company to manage their fuel cost has become a necessity and drivers understand this more than they have in the past. Drivers have become accustomed to working at companies that lock down their fuel network.