Tagged Taxes

Alabama Senate Passes Rental Tax Bill

The bill will add a 3% tax to all car rentals and leases in Jefferson County.

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Maui County Proposes Car Rental Tax to Fund Construction Projects

The tax would add $4.50 to the existing rental fee of $3 per vehicle, per day.

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Carsharing Companies Face High Taxation

Nearly a quarter of the 40 largest cities in the U.S. impose retail taxes that increase the costs of a one-hour carshare by more than 30%, according to a study by DePaul University.

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IRS Releases Favorable Ruling on Like Kind Exchange Programs

The new IRS ruling (201308020) makes it clear that WTP Exchange is permitted under the tax law to provide both Like Kind Exchange (LKE) software and qualified intermediary services. LKE is a common tax-deferred exchange used by businesses.

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What Fleets Should Know about the Taxpayer Relief Act

Within the 2012 Taxpayer Relief Act, the maximum amount of Section 179 deductions has been changed and bonus depreciation extended.

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Travel Taxes: Best and Worst Cities Ranked in GBTA's 2012 Report

Chicago ranked the highest in the total tax burden, which includes sales tax and discriminatory taxes on car rentals, hotels and meals, while Fort Lauderdale, Fla. ranked the lowest.

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Small Fleets, Do You Qualify for a Tax Deduction of Up to $139,000?

While the tax breaks have lessened from the last two years, fleet buyers have a few tax benefits to take advantage of in 2012 — though one will expire at the end of this year.

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Global Snapshot: Jamaican Car Rental Company Surviving Despite High Taxation and Increased Competition

Chalis Car Rental and Tours has been surviving off airport rentals on the island since 1996, despite high taxes on rental car companies and motor vehicles, and the 20 or so car rental brands it competes with at the Sangsters International Airport. Owner of Chalis, Ralph Wilson, says he expects the car rental market in Jamaica to slow down over the next five years.

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Product and Vendor News: Full Like-Kind Exchange Service Can Enhance Your Cash Flow

Businesses with extensive asset portfolios that routinely dispose of assets on a regular basis at a gain (e.g., equipment leasing or rental car companies) may decide to set up an LKE program to access the gain deferral allowed under Section 1031.

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Las Vegas City Council Reallocates Rental Car Tax Funds

Now that construction for the Smith Center for the Performing Arts is ‘on budget,’ the council unanimously approved a $1.5 million reallocation of a rental car tax that had last been designated to help build the center.

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2012 Tax Hit: Are You Prepared?

Budget licensee uses like-kind exchange program to avoid a tax burden for 2012 as a result of the discontinuation of bonus depreciation.

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Travel Taxes in the U.S.: The Best and Worst Cities to Visit

In the fourth incarnation of the Global Business Travel Association’s travel tax study, the average overall effective tax rate on car rentals has gone down for the first time — but don’t call it a trend.

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Webinar: How to Increase Cash Flow in 2012

This free webinar Wednesday, Sept. 22 from WTP Advisers will outline how to implement a like-kind exchange program and the benefits of this tax strategy.

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GBTA Reveals Best and Worst Travel Taxes in Top U.S. Destinations

Research finds that taxes targeting travel services increase cost by 56 percent.

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Debate Continues on ‘Temporary’ Car Rental Tax

Some say lawmakers should keep their promise and end the taxes, which helped pay for a baseball stadium. Others want the taxes to continue for other purposes.

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Editorial Rails Against Continued Car-Rental Tax

Newspaper writes that lawmakers would break a vow by continuing the tax to fund a baseball stadium.

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Report Faults State Tax Hikes on Non-Residents

In addition to rental cars, taxes have been increasing on hotel rooms, restaurant meals, and local sales taxes in resort areas.

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Congress, not Technology, is Deciding the Alt-fuel Market

Should Congress have let the hybrid, diesel and CNG tax credit die while keeping the ethanol fuel credit?

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NBTA Study Reveals Best, Worst Travel Taxes in Top 50 U.S. Destinations

The study shows that taxes targeting travel services increase cost by 56 percent. Rental industry says high discriminatory travel taxes deter meetings and harm local economy.

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What to Tax, if Not Car Rentals?

Here are some novel ideas on taxation that shift the burden away from car renters.

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Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

What a Connected Fleet Means to Avis (and Car Rental)

Counter bypass is just the beginning. The promise of a “data-driven ecosystem” that connects renters with the rental agency, retail services, and even the city is a better managed fleet, an improved user experience, and new revenue opportunities during the rental itself.

Should Peer-to-Peer Renters Pay Airport Car Rental Fees?

The question is central to the City of San Francisco’s lawsuit against Turo for operating without a permit at San Francisco International Airport.

Hard Times Ahead for the Compact SUV Segment?

The hottest segment today is facing a glut of models and volume in tomorrow’s wholesale market.

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