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International Fuel Tax Agreement (IFTA) is a tax agreement between the United States and Canada. It is an agreement that requires commercial carriers to pay fuel taxes based on the distance traveled in each state or province. If you have multiple trucks, filing IFTA can be a daunting task. In this article, we will discuss how to file IFTA for multiple trucks.
IFTA Requirements for Multiple Trucks
According to the IFTA, if you have more than one qualified motor vehicle, you must file a consolidated tax return. A qualified motor vehicle is defined as a vehicle that is used, designed, or maintained for the transportation of persons or property and meets one of the following criteria:
Operates on two or more axles
Any vehicle that has two or more axles and a gross vehicle weight exceeding 26,000 pounds or any vehicle that has three or more axles regardless of weight.
Operates on three or more wheels
Any vehicle that is designed or used to transport more than 15 persons or any vehicle that is used to transport hazardous materials and is required to be placarded.
Step-by-Step Guide for Filing IFTA for Multiple Trucks
Here is a step-by-step guide on how to file IFTA for multiple trucks:
Step 1: Gather Required Information
The first step in filing IFTA for multiple trucks is to gather all the required information. You will need to collect the following information:
- Vehicle identification number (VIN)
- License plate number
- Gross vehicle weight
- Miles traveled in each jurisdiction
- Amount of fuel purchased in each jurisdiction
- Amount of fuel consumed in each jurisdiction
Step 2: Calculate Fuel Tax
The next step is to calculate the fuel tax owed for each jurisdiction. You can use an IFTA fuel tax calculator to make this task easier.
Step 3: File the IFTA Return
Once you have calculated the fuel tax owed for each jurisdiction, you can file the IFTA return. You can do this online or by mail. If you are filing online, you will need to create an account and follow the prompts to file your return. If you are filing by mail, you will need to print out the IFTA return and mail it to the appropriate address.
Step 4: Pay the Fuel Tax
After filing your IFTA return, you will need to pay the fuel tax owed for each jurisdiction. You can do this online or by mail. If you are paying online, you will need to follow the prompts to make a payment. If you are paying by mail, you will need to include a check or money order with your IFTA return.
Step 5: Keep Records
It is important to keep accurate records of all your fuel purchases and miles traveled in each jurisdiction. This will make filing IFTA easier in the future and will help you avoid penalties for incorrect or incomplete reporting.
People Also Ask
Q: What happens if I don’t file IFTA?
A: If you don’t file IFTA, you may be subject to penalties and fines.
Q: Can I file IFTA for multiple trucks online?
A: Yes, you can file IFTA for multiple trucks online.
Q: How often do I need to file IFTA?
A: You need to file IFTA quarterly.
Conclusion
Filing IFTA for multiple trucks can be a complicated process, but by following these steps, you can make it easier. Remember to keep accurate records and file your IFTA return on time to avoid penalties and fines. If you have any questions, contact your state’s IFTA office for assistance.
