Last Updated on January 2, 2023 3:07 pm
The North Carolina state gas tax increased by two cents to start off the New Year.
The motor fuels and alternative fuels tax rate for the period of Jan. 1, 2023, through Dec. 31, 2023, increased from 38.5 cents to 40.5 cents per gallon, according to a North Carolina Department of Revenue press release in November.
The motor fuel excise tax rate is calculated by using the motor fuel excise tax rate of the preceding calendar year, multiplied by a percentage. The percentage is 100 percent plus or minus the sum of the annual percentage change in State population for the applicable calendar year, multiplied by 75 percent and the annual energy index percentage change in the Consumer Price Index for All Urban Consumers, multiplied by 25 percent.
In addition, the inspection tax will remain at .0025 cents per gallon.
The federal gas tax is 18.4 cents per gallon.
