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Haslam wants lawmakers to approve tax break for FedEx
AP via Kingsport (TN) Times-News ^
| April 9, 2015
Posted on 04/09/2015 6:46:14 AM PDT by don-o
NASHVILLE, Tenn. (AP) — Republican Gov. Bill Haslam's administration wants lawmakers to approve a cut in aviation fuel taxes for Memphis-based FedEx Corp.
The Commercial Appeal reports that FedEx on average pays up to three-quarters of the total 4.5-cent-per-gallon tax collected by the state each year.
(Excerpt) Read more at timesnews.net ...
TOPICS: Business/Economy; News/Current Events
KEYWORDS:
I'm actually torn on this. Lower taxes, yes. But, will FedEx pass the savings to their customers?
Is something really broken here? Or is there more that the Governor ain't telling?
1
posted on
04/09/2015 6:46:14 AM PDT
by
don-o
To: don-o
Taxes are too high if games like this need to be played.
2
posted on
04/09/2015 6:47:31 AM PDT
by
HiTech RedNeck
(Embrace the Lion of Judah and He will roar for you and teach you to roar too. See my page.)
To: HiTech RedNeck
FedEx moved to Memphis in 1973.
3
posted on
04/09/2015 6:48:59 AM PDT
by
don-o
(He will not share His glory and He will NOT be mocked! Blessed be the name of the Lord forever!)
To: don-o
The Commercial Appeal reports that FedEx on average pays up to three-quarters of the total 4.5-cent-per-gallon tax collected by the state each year. Well, do they use three-quarters of the total aviation fuel sold in the state each year? I would suspect yes, or close to it.
To: don-o
How long before “take home pay” is all “tax breaks”?
5
posted on
04/09/2015 6:51:13 AM PDT
by
tacticalogic
("Oh, bother!" said Pooh, as he chambered his last round.)
To: don-o
at least they arent in California!!
6
posted on
04/09/2015 6:53:16 AM PDT
by
MeshugeMikey
("Never, Never, Never, Give Up," Winston Churchill ><>)
To: don-o
The gov't should not play favorites; lover the tax for all businesses, not just one.
7
posted on
04/09/2015 7:03:25 AM PDT
by
BitWielder1
(Corporate Profits are better than Government Waste)
To: BitWielder1
The gov't should not play favorites; lover the tax for all businesses, not just one. spot on Bit
8
posted on
04/09/2015 7:07:59 AM PDT
by
onona
(Obama's entire term reads like a John Semmens post.)
To: don-o
There is a surcharge on each package based upon the rate that FedEx charges, so I suspect it will (at least in part) pass on to the customers. Living in Memphis, I might be able to scrounge up an official answer. I don’t know.
9
posted on
04/09/2015 7:19:19 AM PDT
by
Ingtar
(Capitulation is the enemy of Liberty, or so the recent past has shown.)
To: HiTech RedNeck
They should buy their fuel in Arkansas..............
10
posted on
04/09/2015 7:22:22 AM PDT
by
Red Badger
(Man builds a ship in a bottle. God builds a universe in the palm of His hand.............)
To: don-o
11
posted on
04/09/2015 7:29:20 AM PDT
by
Ingtar
(Capitulation is the enemy of Liberty, or so the recent past has shown.)
To: Ingtar
12
posted on
04/09/2015 7:33:42 AM PDT
by
don-o
(He will not share His glory and He will NOT be mocked! Blessed be the name of the Lord forever!)
To: don-o
When you give this tax break to one company but not others, it is nothing less than corporate welfare.
13
posted on
04/09/2015 7:47:33 AM PDT
by
Blood of Tyrants
(True followers of Christ emulate Christ. True followers of Mohammed emulate Mohammed.)
To: Blood of Tyrants
This is a cap on the maximum that any business can pay in fuel tax. I think it does apply to all. It’s just that Fedex is the only business in the state that would be currently affected. Any other business who managed to pay enough tax to reach the cap would take advantage of the cap.
14
posted on
04/09/2015 7:51:56 AM PDT
by
don-o
(He will not share His glory and He will NOT be mocked! Blessed be the name of the Lord forever!)
To: don-o
Typo. Meant (m)illions. Thank you for noticing.
15
posted on
04/09/2015 7:57:57 AM PDT
by
Ingtar
(Capitulation is the enemy of Liberty, or so the recent past has shown.)
To: don-o
This is no different than a tax passed to specifically target one group or individual.
If FedEx pays 75% of the total collected that’s just wrong.
16
posted on
04/09/2015 8:23:26 AM PDT
by
VeniVidiVici
( Better a conservative teabagger than a liberal teabagee)
To: VeniVidiVici
No one even comes close to buying the amount of aviation fuel that FE does. Hence, no one comes close to the tax amount they pay. It’s not right or wrong. It’s math.
I think a good question is do they own and maintain the runways they use in Memphis?
17
posted on
04/09/2015 8:31:33 AM PDT
by
don-o
(He will not share His glory and He will NOT be mocked! Blessed be the name of the Lord forever!)
To: don-o
Southwest might as they have a hub in Nashville. But you are right no one will beat FedEx.
18
posted on
04/09/2015 1:12:42 PM PDT
by
bjorn14
(Woe to those who call good evil and evil good. Isaiah 5:20)
To: don-o
No one even comes close to buying the amount of aviation fuel that FE does. Hence, no one comes close to the tax amount they pay. It’s not right or wrong. It’s math.That's my point. You pass a tax knowing that one entity will end-up paying 75% of it. You may as well pass a tax that says only companies that have the letters FED in their name will pay it.
19
posted on
04/10/2015 6:06:16 PM PDT
by
VeniVidiVici
(Hey, hey, GayKKK. Who you gonna attack today?)
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