A bill introduced in the Senate on June 12 is the latest attempt to repeal the 12% federal excise tax (FET) on the sale of heavy-duty trucks and trailers.
At the ATD Show in Las Vegas, Steve Parker, chairman of the American Truck Dealers organization, urged dealers to work with congress to repeal the federal excise tax on the sale of heavy duty trucks and trailers.
Let's say you resell a near-new trailer and charge the tax. The buyer complains that it's a used trailer. What do you say -- life's not fair?
A new effort to ax the 12% federal excise tax on most heavy-duty trucks, tractors and trailers has been mounted on Capitol Hill by Rep. Doug LaMalfa (R-CA).
Sen. Cory Gardner introduced Senate Concurrent Resolution 40, expressing opposition toward increasing the 12% Federal Excise Tax (FET) on heavy trucks and truck bodies.
A bipartisan group of U.S. House members have introduced a bill seeking to stop any increase of the excise tax on new heavy-duty trucks, an effort that has been applauded by truck dealers.
Exemption from the 12% FET is a major benefit of buying gliders instead of new trucks, but new IRS thinking would take away that break.
Many thought the Argosy COE went out of production in 2006, but it's still available in NAFTA markets as a glider kit. DTNA says interest in the truck is growing as more customers become aware of its continued availability.
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