Trucking is a style, no one would understand. This epic statement says it all. Trucking is one such industry, where people are amused by the hard work and passion truckers share for the nation. However, there is one thing to think over. What is Heavy Vehicle Use Tax? Continue reading
Hello truckers, welcome back to our blog. Today we are going to speak about tax calculations. We know how difficult it is to keep a track on the receipts, the payment and of course, the due date. However, if a truck weighs more than 55,000 pounds and drives more than 5,000 miles in a taxable year, they are liable to pay taxes. These vehicles are categorized as taxable vehicles.
Below is the table for your better understanding:
|
|
|
Annual Tax (Vehicles Used During July) |
|
Category |
Taxable Gross Weight |
Vehicles Except for Logging |
Logging Vehicles |
A |
55,000 |
$ 100.00 |
$ 75.00 |
B |
55,001-56,000 |
122.00 |
91.50 |
C |
56,001-57,000 |
144.00 |
108.00 |
D |
57,001-58,000 |
166.00 |
124.50 |
E |
58,001-59,000 |
188.00 |
141.00 |
F |
59,001-60,000 |
210.00 |
157.50 |
G |
60,001-61,000 |
232.00 |
174.00 |
H |
61,001-62,000 |
254.00 |
190.50 |
I |
62,001-63,000 |
276.00 |
207.00 |
J |
63,001-64,000 |
298.00 |
223.50 |
K |
64,001-65,000 |
320.00 |
240.00 |
L |
65,001-66,000 |
342.00 |
256.50 |
M |
66,001-67,000 |
364.00 |
273.00 |
N |
67,001-68,000 |
386.00 |
289.50 |
O |
68,001-69,000 |
408.00 |
306.00 |
P |
69,001-70,000 |
430.00 |
322.50 |
Q |
70,001-71,000 |
452.00 |
339.00 |
R |
71,001-72,000 |
474.00 |
355.50 |
S |
72-001-73,000 |
496.00 |
372.00 |
T |
73,001-74,000 |
518.00 |
388.50 |
U |
74,001-75,000 |
540.00 |
405.00 |
V |
Over 75,000 |
550.00 |
412.50 |
First, you need to classify your vehicle based upon the category mentioned in the tabular column. If you are filing prorated taxes for your vehicle, then you need to calculate for the months your filing. Say, if April you took your vehicle on the highway for the first time, this May 31st is the last date to file your return depending upon the taxable weight. If your vehicle used only for logging and other forestry purpose, the tax rate would differ.
Now the question is which is easiest method to file your HVUT? Well, there are two major methods to file form 2290. One is the traditional method, paper filing. This consumes lot of time and energy, involving calculations to be done by t things are supposed to be done manually. It also provides you room with errors. If one error is found in your form, IRS would reject your return. So when you are opting for paper filing, ensure you are too good at math.
However, we have another option for you. May be this would work easy for you. Efiling is the method that can put you at ease. Here, there is nothing done manually. You have to register with Tax2290.com and then simply check on “Start A New Return”. Click on Heavy Vehicle Used Tax and fill in the details requested by the application. As you are typing, your info related to your vehicle, you will see your calculated taxes in the next slide in seconds. Also, add this point, the calculations done by our inbuilt application is the most accurate result, which will make you come to Tax2290.com again and again.
When things can get so techy, why do you have to stay dependent on paper and pen? So what is the wait for? Come over, and file tax for your heavy vehicle if you have used it for the first time on the highway in the month of April. So eventually, this May 31st would be the due date to file your return. Don’t wait anymore, if you go late, penalties would simply tag along which is not so likely.
Reach our Tax Experts for more assistance @ 1-866-245-3918 or write to us your queries tosupport@taxexcise.com. You stand as our inspiration to work harder, each day. We need to serve you with the best.
Hello filers, welcome back to our blog. Last time we had posted a blog on the purpose of filing form 2290. Today’s topic would be all about the types of vehicles filed through this form and its own set of requirements. Continue reading
Trucking, the industry started with handful of enthusiastic individuals with the passion to do something for the nation. They left their imprints behind and now that seems to be the trend all over. We have plenty of truckers joining us each day, let be experienced or senior truckers, right out of college to women truckers. A varied group of people sailing on the same boat, with the same motive “Serve the nation”. It is just a part of your trucking experience; don’t forget you owe taxes to IRS for driving your heavy rigs on the highway. Continue reading
Everyone dreams, varied ones. Some may dream to become a doctor and some would dream to be businessperson, however, there are handful of them who would think and dream that they would like to serve their nation through their driving abilities. Today’s blog is for the individuals who are thinking of to bring in a change, by being the change. If you think you are capable of becoming a truck driver and you are residing in Minnesota, you should fasten on your seat to check out the requirements of CDL.
Every profession has a series of requirements and this implies to CDL as well. Every applicant should meet the minimum age requirements; pass a background check, medical examination and pass the tests on the aspect of commercial driving before exposed to the open road.
Basis Requirements For Commercial Driving License In Minnesota
Age:
An applicant for truck driver license in Minnesota should be 18 years. For Hazardous material transportation and interstate CDL driver application, you need to be at least 21 years of age and
Medical Certification:
Before applying for CDL, ensure you are physically fit and fine to drive the heavy rig and thus, the applicant driver should pass a U.S. Department of Transportation physical exam and receive a medical examination certificate, acknowledging the same.
Adhere To The Norms By The Institute:
Every applicant is required to adhere to the standardized norms stated by the Professional Truck Driver Institute. Minimum standards include vehicle inspection knowledge, coupling and uncoupling tractor-trailers, and driving in different weather conditions.
A Background Check:
As per the Patriot Act, every commercial driver should undergo a background check and fingerprinted to transport hazardous materials. The Transportation Security Administration conducts the background checks for all commercial drivers. These check helps in protecting the citizens from terrorist action involving in hazardous materials.
Varied Types Of CDL:
With three types of CDL classes, you need to decide which one you are opting for with the type of vehicle driven.
Fees:
The fees for Minnesota CDLs are:
Class A: $42.25
Class B: $34.25
Class C: $27.25
The above mentioned criteria’s were to gain CDL, however, there is a set of duties you need to oblige after you become a truck driver. Paying taxes. Yes, you read it right. You need to ensure you file your tax return HVUT if you are driving on the highway. So come over and file your return if you have used your heavy vehicle for the first time in month of April. You are suppose to fileform 2290 by the end of the May. So come over and file your return online with ease.
We have a set of tax experts to support you, and help you in getting your queries cleared. Do get in touch with them when you are stuck with form 2290. Dial 1-866-245-3918 or shoot a mail tosupport@taxexcise.com.