|Photo: © istockphoto.com/Paul Vasarhelyi|
As for boaters, did you that know you may be eligible for a full or partial refund of the taxes paid on the fuel? Here's why...
It turns out that a portion of the taxes you pay on fuel goes toward highway repair, and since boats do not typically cause highway damage, or even wear and tear, some logical folks in some states decided to give this money back to the boaters who paid into it.
BoatU.S. seems to have the most detailed information about which states offer refunds, and what happens to the money for states that don't have such a program as well as the Federal tax. Here's the BoatUS link, but we can't vouch for how accurate or up-to-date their info is. According to the folks at DiscoverBoating, the American Boating Association has published similar data.
For the most accurate information, check your own state's official revenue services page. A Google search of your state's name followed by the phrase "marine fuel tax refund" should also provide you with a quick answer to this question. For example, a search of "Connecticut marine fuel tax refund" turns up a link right to the form from CT's department of revenue services.
In any event, tax laws often change, so as we're sure your tax accountant would advise, always save your receipts!