Betty T. Yee Says Gasoline Use Down for Both the Month of June and Second Quarter of 2007.Price Increases Likely Contributor to Continued Declines in Consumption SACRAMENTO, Calif. -- Betty T. Yee, Chairwoman of the Board of Equalization In communications, techniques used to reduce distortion and compensate for signal loss (attenuation) over long distances. , today released gasoline gasoline or petrol, light, volatile mixture of hydrocarbons for use in the internal-combustion engine and as an organic solvent, obtained primarily by fractional distillation and "cracking" of petroleum, but also obtained from natural gas, by consumption figures for June and complete figures for the second quarter of 2007. Californians used 1.6 percent less gasoline in June than the same period last year. The decline of 0.6 percent during the second quarter marks the fifth consecutive three-month period to show less gas consumption. "Californians still use a lot of gasoline, but this drop in consumption certainly points to a continuing downward trend," said Chairwoman Betty T. Yee. In the second quarter of 2007, Californians used 22.1 million gallons less than they did in the same period last year. June figures declined by 1.6 percent from the same period a year ago, and show a 2.7 percent decrease from May 2007. Over the past five years, Californians have used an average of about 15.8 billion gallons of gasoline annually. During the 2006 calendar year Californians consumed 15.83 billion gallons, down from 15.94 billion a year earlier. The second quarter of 2007's average pump price of $3.384 was 21 cents above prices during the second quarter of 2006. Those higher prices generated approximately $982.5 million in sales tax sales tax, levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. during that quarter, an estimated $57 million more than the second quarter of 2006. The Board estimates that nearly twice as much sales tax is generated annually by higher gasoline prices than five years ago. In 2006, sales tax revenues from gasoline sales were estimated to be $3.3 billion, while 2002's gasoline sales generated $1.7 billion. The State's excise tax Excise Tax 1. An indirect tax charged on the sale of a particular good. 2. A penalty tax applied to ineligible transactions in retirement accounts. This penalty is assessed by and paid to the IRS. Notes: 1. revenues, 18 cents collected on every gallon, have remained relatively stable. "While we have seen an increase in gasoline sales tax revenues, it's likely the gain has been offset at least in part because people have less discretionary income Discretionary Income The amount of an individual's income available for spending after the essentials have been taken care of. Notes: Essentials are things like food, clothing, and shelter. to spend on other taxable items," Yee also said. The publicly-elected Board is able to monitor gallons through tax receipts paid by fuel distributors. All monthly, quarterly and annual figures can be viewed at http://www.boe.ca.gov/sptaxprog/reports/imvf10ynet.pdf. Chairwoman Betty T. Yee was elected to her post in November 2006. Her district includes many of California's coastal counties, from Del Norte Del Norte can refer to multiple things:
The San Francisco Bay Area, colloquially known as the Bay Area or The Bay . The five-member Board of Equalization is a publicly elected tax board. The Board collects nearly $53 billion annually in taxes and fees supporting state and local government services. It hears business tax appeals, acts as the appellate body The Appellate Body of the WTO is a standing body of seven persons that hears appeals from reports issued by Panels in disputes brought by WTO Members. It was established in 1995 under Article 17 of the Understanding on Rules and Procedures Governing the Settlement of for franchise and personal income tax appeals, and plays a significant role in the assessment and administration of property taxes. Number of gallons of gasoline consumed: In the second quarter of 2007, Californians used 22.1 million fewer gallons than they did in the second quarter of 2006. |
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