Fuel Tax Reporting

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Category: Fuel Tax Reporting

April 27, 2016

STATES MOVING TO GPS-BASED WEIGHT AND MILE TAX

Vehicles are becoming more and more fuel efficient, meaning state and federal governments are beginning to look at alternative funding mechanisms to shore up their fuel tax revenues. For instance, the Congressional Budget Office recently proposed that Congress pass legislation that would charge drivers a tax for every mile they drive. Some states are not…

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April 26, 2016

IFTA STATE TO STATE TAXES

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December 16, 2015

END OF YEAR FILINGS

The end of the year is just around the corner, which means that it’s time for your end of year checklist. This includes renewing your IFTA License and permits you may have to drive in New York, New Mexico or Oregon and filing your UCR. Rather than stress out and get everything done last minute,…

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August 24, 2015

IFTA PENALTIES AND INTEREST

Preparing your IFTA (International Fuel Tax Agreement) tax return and paying the taxes due is extremely important. Taking the time to gather all the documents and filling out all the proper forms can take up a lot of time that you may not have. Unfortunately, if you put it off, it can lead to penalties,…

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May 12, 2015

PROTECT YOURSELF FROM AN IFTA AUDIT

States audit 3-10% of all companies with IFTA licenses each year.  Your chance of having an IFTA audit is much higher than the likelihood of an IRS tax audit.  As an IFTA licensee, you have to do more than just file your quarterly return to be in full compliance with the agreement.  The most common…

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Understanding IFTA

For many company drivers and owner operators, understanding the International Fuel Tax Agreement (IFTA) does not come easy. Drivers who understand the purpose and history of IFTA feel as though they can make more informed decisions that can lead to increased profits and more savings. Before IFTA, drivers had to purchase fuel permit for each…

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January 29, 2015

UPDATING IFTA IN 2015

When searching for information on the IFTA, you may come across IFTA Inc. This is a non-profit corporation that manages and administers the International Fuel Tax Agreement. It is what helps make sure that the 48 states and 10 provinces that signed up for the IFTA are working together. There are 58 jurisdictions total that…

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September 24, 2014

HASSLE-FREE IFTA FUEL TAX REPORTING

CDL operators of vehicles carrying a combined GVWR over 26,001 pounds are required to submit quarterly IFTA fuel tax reports. These IFTA fuel tax filings reconcile how much diesel you purchased in each state and how many miles you traveled in each state. These quarterly filings can be very time consuming. With the owner/operator in…

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September 12, 2013

HOW TO COMPARE DIESEL PRICES FROM STATE TO STATE

If you own a trucking company diesel is one of your biggest expenses so you need to make sure you are getting the lowest priced fuel available.  The problem is, you can’t compare diesel prices like four-wheelers do.  Diesel at a Nevada truck stop that is $4.00 per gallon is not cheaper than diesel at…

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