Jet fuel tax exemption could expire without action from NC General Assembly this year

CHARLOTTE — The worth of a gallon of gasoline is commonly a subject of debate for a lot of, however a rule affecting the value of jet gasoline in North Carolina may have a huge impact if it expires with out motion from the state Common Meeting this 12 months.

Since 2016, there’s been an exemption in North Carolina for jet gasoline taxes. That has been a profit to main airline corporations and helps Charlotte Douglas Worldwide Airport safe its hub standing. American Airways had sought the exemption.

However the legislation for the tax exemption runs via this 12 months. Because the North Carolina Common Meeting convenes for the 2023 session on Wednesday, leaders inform Channel 9 that the tax exemption is one subject they’ll sort out over the approaching months.

Senate Chief Phil Berger (R-District 26) says he hasn’t talked to anybody who’s against an extension of the exemption.

The gross sales tax charge on jet gasoline with out the exemption can be 7%. Based on GlobalAir, the value per gallon of jet gasoline within the Charlotte space ranged from $4.99 per gallon in Pageland as much as $7.98 per gallon at CLT.

(WATCH BELOW: Worth of jet gasoline rising as fuel costs rise, driving up journey prices)

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