Tax writeoff on gas

[vettnman]

You guys may have already heard this, but, you can write off the highway use taxon gas for your boats. You have to collect all your gas receipts all year, and when you file your taxes, write off the 0.29 that is the highway use tax. They will however charge you a 0.13 sales tax on gas in lieu of the highway use tax. So, just for a reference, if I use 500 gallons of gas a year, it should save me $80. My accountant told me about it and I'm looking at the paperwork on it right now. It's called a gas form 1201 (motor fuel claim for refund tax paid motor fuel used off-highway. a contact # for ya'll if you need it for the motor fuels tax division is (877)308-9092. or (919)733-3409. This only applies to recreational fishing vessels....Just a FYI...David

[vettnman]

I should have probally made myself a little clearer. The state of NC cannot charge you a highway use tax for boat gas because it isn't being used on the highway. That's why you can get a tax break for it and just pay a sales tax instead which is cheaper

[Sea Deuce]

I was told this by a fellow employee. I'm going to save the receipts from now on.