- August 18, 2023
Calculating Heavy vehicle Tax is not a difficult process, but understanding the steps can determine the amount easily. A taxable weight of 55,000 pounds or more is required to file Highway Heavy Vehicle Use tax to IRS. You may be the truck operator or owning the truck company, knowing this information is always an added advantage. In this blog post, we will guide you on how to calculate heavy vehicle weight tax for filing Form 2290.
Determine Heavy Vehicle Weight Tax
The first step is calculating your heavy vehicle weight tax to identify the taxable gross weight of your vehicle. To determine this, follow the below three steps,
1. The actual unloaded weight of the vehicle is fully equipped for service.
2. The actual unloaded weight of any trailers or semitrailers fully equipped for service customarily used in combination with the vehicle.
3. The weight of the maximum load customarily carried on the vehicle and on any trailers or semitrailers customarily used in combination with the vehicle.
The actual unloaded weight is the weight of the vehicle without any cargo or passengers. The weight of the trailers or semitrailers is also calculated without any cargo or passengers. The weight of the maximum load is the weight of the heaviest load that the vehicle is typically used to carrying.
Identify the Category of Vehicle
The category of vehicle is the important information while filing Form 2290. Based on the category of vehicle owned, you will receive the amount of tax you owe. Vehicles used for agriculture purposes or logging have different tax rates. To receive an appropriate tax amount, ensure that you mentioned the correct category of vehicle.
Account for Suspended Heavy Vehicles Tax
If you use a vehicle less than 5000 miles (7500 miles for agriculture vehicles) during the tax period, you may be eligible for suspension of heavy vehicle use tax. This means you need not pay the full tax amount but still you need to report IRS through Form 2290 to claim suspension of heavy vehicle use tax. It’s essential to maintain the vehicle mileage records to support the claim.
E-File Form with Tax2efile
Tax2efile is the IRS authorized Tax filing application that allows truck owners to file Form 2290 easily in minutes. Register and log in with our application and by following simple steps you will receive stamped Schedule 1 in minutes. We also provide personalized support for all customers and walk through with them until complete the filing process.
