Tag: Tax

By on October 21, 2013

car-ownership-costs

One thousand, nine hundred, and fifty two dollars.

That is how much the average Georgian is supposed to pay in tax, title, and registration fees every year according to Bankrate.com.

When I read that factoid, my eyebrows almost flew off my head. The amount had no cents, and the statement made no sense because I happen to be the guy who collects the taxes from my customers and sends them to the state. Only a $28,000+ car purchase every single year would make this possible, and Georgia is a notoriously poor state. Out of a population of nearly 10 million, our state registered fewer than 300,000 new vehicle sales in 2012.

I quickly concluded that Bankrate.com had done little homework except to launched a PR campaign, under the guise of a study, that was heavy on the numbers and light on the facts.

I also decided to read through the list since 49 other states were also given their daily dose of tax calculations. Immediately, I saw enough red flags to warrant a bit more detail.

(Read More…)

By on October 18, 2013

bmw-3-series-wagon-450x275

As part of a new free trade agreement due to be signed with the European Union, Canada will remove its 6.1 percent tariff on imported vehicles from the European Union, while the EU will remove its 10 percent duties on autos and and its 4.5 percent duty on parts.

(Read More…)

By on June 13, 2013

Range_Rover_front_20080331

A scheme to tax cars based on their C02 output could have the unintended consequence of causing UK motorists to scrap tens of thousands of perfectly good cars in the UK, solely because their annual tax rates, based on C02 consumption, have become too expensive for many motorists.

(Read More…)

By on June 10, 2013

 

 

“Hybrid and electric cars are sparing the environment. Critics say they’re hurting the roads,” writes Bloomberg. “The popularity of these fuel-efficient vehicles is being blamed for a drop in gasoline taxes that pay for local highway and bridge maintenance, with three states enacting rules to make up the losses with added fees on the cars and at least five others weighing similar legislation.”
(Read More…)

By on June 3, 2013

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Every so often, the same tired rumor will pop up again, like a particularly resilient pimple that habitually reappears in the same conspicuous spot. Thanks to the incessant hunger for clicks among auto websites, these rumors refuse to die, no matter how asinine they are. How many times have you seen a “BREAKING” or “EXCLUSIVE” story on the next Toyota Supra or some absurd BS fabrication regarding a diesel Mazda MX-5?

(Read More…)

By on May 30, 2013

Victor Muller - Picture courtesy gp.se

Despite Victor Muller’s assurances that he is innocent, that he has not been accused of any crime, and that Sweden’s Economic Crime Authority most likely only wants to invite him for a friendly chat, Sweden’s  Göteborgs-Posten thinks it knows who is the target of the investigation:  Victor Muller, and Saab’s board. In the end, Victor Muller was alone on board.  Says the paper: (Read More…)

By on May 29, 2013

Victor Muller - Picture courtesy coolbrandsstories.wordpress.com

Former Saab Chairman Victor Muller “will be called in to answer questions related to a Swedish inquiry into alleged tax offenses at the bankrupt carmaker,” Sweden’s  Economic Crime Authority told Reuters. (Read More…)

By on May 23, 2013

Muller and lawyer Geers in court – Both are suspects of tax evasion

As suspected, the Swedish Saab scandal  over avoided taxes grows wider.  Yesterday, it reached the failed takeover artist Victor Muller. “Muller prime suspect in Saab tangle,” headlines Swedens Svenska Dagbladet, The paper obtained court documents that say Muller is wanted for questioning. (Read More…)

By on May 21, 2013
Kristina Geers and Victor Muller Picture courtesy stureplan.se

During better times:Kristina Geers and Victor Muller

Key members of the board of bankrupt carmaker Saab were arrested yesterday on suspicions of tax evasion.  Former Saab General Counsel Kristina Geers, former CFO Karl-Gustav Lindstrom, and former CEO Jan Åke Jonsson spent the night in jail. After a serious grilling, the three were released today. At the same time, the offices of  Spyker in Zeewolde, Netherlands, were searched by police at the request of Swedish authorities, Z24.NL reports.
(Read More…)

By on November 12, 2012

Japan’s minivehicles or “kei” cars could lose their (next to their cuteness) biggest attraction: The tax benefit. The Japanese government is thinking about charging the same tax for regular cars and mini vehicles alike, The Nikkei [sub] writes. (Read More…)

By on November 1, 2012

The 3-cylinder Ecoboost engine developed by Ford won’t necessarily stay at its current displacement of 1.0L. According to the Blue Oval, there’s a fair bit of power – and displacement – left on the table.

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By on July 24, 2012

The San Francisco Bay area will investigate a proposal to implement cost-per-mile driving, as a way to raise money for public transit and road repair while reducing pollution and congestion.

(Read More…)

By on January 6, 2010

The fourth or fifth oldest profession (courtesy:rootsweb.ancestry.com)

Drivers in Georgia were hit for the first time last Friday with a new tax on speeding tickets designed to raise between $25 and $30 million in annual revenue for the general fund. The plan was modeled on the driver responsibility taxes in states like Michigan, New Jersey, New York and Texas. A similar plan in Virginia was so unpopular that legislators repealed the tax within six months and refunded all of the money that had been collected under the program.

(Read More…)

By on February 3, 2009

The Detroit Free Press reports that Senator Barbara Mikulski (D-MD) has added some car dealer-friendly provisions to the proposed $43g (gazillion) economic stimulus package.

Mikulski’s proposal would grant a tax credit for vehicles bought between Nov. 12 of last year and Dec. 31 of this year. The tax break would only go to families making less than $250,000 a year, and would only apply to interest on loans up to $49,500.

“Everyone wants to save auto manufacturers, but no matter how much government aid we give to the Big Three auto makers, they can’t survive if consumers don’t start buying cars,” Mikulski said.

True dat. HOWEVER, this is like putting a band aid on an arterial wound. Until the U.S. housing market recovers, car sales will not come back. And maybe not even then, for a while anyway. How Congress/the feds do that remains to be seen. Later.

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