Correct.The meter is showing $4.00 when you 1st get in the cab and includes your first mile of travel (if you go one mile or less the meter will never show anything other than $4.00)
Everything after the first mile is $1.50/mile or $0.25 every 1/6th of a mile)
Wait time (waiting on behalf of the customer such as at the grocery store, in a fastfood drivethru, etc) is $18.00/hour or $0.25 every 50 seconds)
Traffic jams, trains, and things of that nature that are beyond the control of the customer are not legal to charge for on wait time.