|View printer-friendly version|
Wright Express Responds to the American Jobs Creation Act
SOUTH PORTLAND, MAINE (December 9, 2004) -The American Jobs Creation Act, scheduled to go into effect as of January 1, 2005, states that gasoline excise taxes would be subject to similar rules as diesel fuel excise taxes, potentially impacting the handling of Federal gasoline tax exemption. The law does not change the current methodology for handling state and local taxes.
According to Fred Madeira, Vice President, Relationship Management, “Wright Express has been working diligently with an ad hoc industry group since October to arrive at a solution that works for all the parties involved. I'm pleased to announce that we will continue to provide our gasoline tax-exempt program to customers, and bill our fleets net of tax. In addition, the company is in the process of expanding its tax-exempt program to include diesel fuel.”
In addition to Wright Express,
the industry group members include major and independent
oil companies, state fleet administrators, convenience
store operators, third party fleet management companies,
tax experts and government agencies, as well as representatives
from tax-exempt organizations that rely on Wright Express
and its partners to support their cash flow by exempting
eligible fuel taxes.
About Wright Express
Wright Express is a leading provider of payment processing and information management services to the U.S. commercial and government vehicle fleet industry. Wright Express provides these services for over 270,000 commercial and government fleets containing more than 3.8 million vehicles. Wright Express markets these services directly as well as through its over 85 strategic relationships, and offers a MasterCard-branded corporate card. The company employs more than 610 people and maintains its headquarters in South Portland, Maine. For more information about Wright Express, please visit www.wrightexpress.com.
©2003 Wright Express, LLC. All rights reserved.