Tax Reports & Tax Services for truckers
Every state has set different regulations for commercial vehicles. You must report the required taxes to operate inter or intrastate without hassle. Missing out on tax deadlines can cost you hefty fines and delays on your commercial trucking insurance policy.
Our team can help you file federal and state tax reports seamlessly. According to the state where your trucking company operates, you would need to report the following taxes:
IFTA Fuel Tax
International Fuel Tax Agreement is a mandatory tax only for Interstate Trucking companies, allowing you to operate in 48 US states and 10 Canadian provinces.
To report your company’s IFTA for the first time, you might open an account, then make quarterly reports in January, April, July, and October. You will receive an IFTA license and IFTA decals annually; not renewing it implies fines and FMCSA violations. IFTA decals must be maintained in a visible part of your vehicle.
IFTA Report must include all the trucks affiliated with your company. You do not need to make different reports for each vehicle; one IFTA report can present the miles traveled and diesel gallon consumption of all your company trucks.
Don’t know how to register for IFTA? Our IFTA Fuel Tax Reporting Service can help you.
2290 Road Tax
Heavy Highway Vehicle Used Tax for motor vehicles weighing 55,000 pounds or more need to file Heavy Vehicle Use Tax 2290. It ensures proper maintenance and management of the roads against any wear and tear. The payment also supports improvement in highway infrastructure, law enforcement, and safety programs.
Nonetheless, filing a 2290 Tax Report can go a long way. Our team’s expertise helps you submit tax reports error-free at your convenience.
Let us help you enjoy risk-free highway movements.
NY HUT TAX REPORT (Heavy Use tax)
To operate your vehicles on New York Highways, you are required to comply with New York Heavy Used Tax. It includes trucks, tractors, or self-propelled vehicles. All vehicles with an unloaded weight of more than 18000 pounds are subject to taxes under New York Highway regulations. It is Mandatory tax reporting conditioned on the NY Highway Use Tax permit.
All Transportation companies based in New York or planning to transport cargo along New York Highways might process the NY HUT Tax Report annually.
Don’t know how to determine NY HUT Tax? Let us guide you.
KYU TAX REPORT
Motor vehicles with a combined license weight of 59,999 pounds or more need to obtain a KYU Tax license to travel on Kentucky Roadways. It is a mandatory tax reporting conditional on the KYU Weight Distance permit.
To process your KYU Tax report, you need to apply for a KYU number. Unlike many tax reports, there is no need to be renewed as long as you report on time if your trucks are traveling along Kentucky highways.
Talk to us and enjoy a seamless processing experience.
NM WD TAX REPORT
All commercial vehicles weighing more than 26000 pounds based in or traveling to New Mexico need to obtain New Mexico Weight Distance Permit to travel on New Mexico roads. Applying for this permit makes you subject to mandatory tax reporting conditioned on the NM WD permit.
NM WD Tax Report must be renewed annually by December.
WEIGHT MILE TAX OR
Commercial vehicles weighing over 26,000 pounds must report mandatory taxes conditioned on permit Weight-Mile tax enrollment application OR. You need to comply with Oregon state’s transportation authority requirements and submit tax reports monthly or quarterly.
If your trucks are based in Oregon or are planning to transport cargo along OR Highways, the Weight Mile Tax OR permit is required. In addition, you might qualify for a special Bond, and a monthly report with the miles traveled in the state is this mandatory.
Don’t know if your vehicle needs a Weight-Mile Tax OR Permit? Get in touch with us.
FRANCHISE TAX FILE ALSO KNOWN AS CORPORATION ANNUAL REPORT
Any company in the US created as an LLC, Inc., or Corp must submit an Annual tax report. It gives your business the right to operate legally. The name of the report may change from state to state. For example, Texas, California, and Florida is known as Franchise Tax report; but in other states is known as Corporation annual report.
Let us help you file the Corporation Annual Report.
INCOME TAXES
Income taxes are mandatory for all working individuals and companies. Truck owners, operators, and companies need to pay a share of income or profits earned as taxes to the government. Federal income tax might be presented to the IRS, part of the Department of Treasury.
UCR
All motor carriers transiting interstate must pay an annual registration fee according to the number of vehicles in their trucking company. To be eligible for UCR Highway tax, you must register under the Unified Carrier Registration Program.
All companies with authority, such as MC#, IEP, freight forwarders, brokers, or houses of goods registered to the FMCSA, might report the Unified Carrier Registration UCR.
Does the UCR application sound confusing? Let us be your guides.