What is the Gas Tax Swap?
The Gas Tax Swap is a combination of lowering the sales tax rate applicable to sales of motor vehicle fuel and simultaneously raising the state excise motor vehicle fuel tax, effective July 1, 2010. Additionally, the Gas Tax Swap also includes raising the sales tax rate applicable to sales of diesel fuel and simultaneously lowering the state excise diesel fuel tax effective July 1, 2011. It is important to remember that the changes applicable to sales of diesel fuel occur one year after the changes applicable to sales of motor vehicle fuel.
