How To Calculate The Heavy Vehicle Used Tax? If you are a heavy vehicle owner in the USA, then you must file the IRS 2290 Tax Form and pay HVUT with the IRS. Any truck that weighs 55,000 pounds or more are subjected to this heavy vehicle use tax. If you have a vehicle and your vehicles fall under this category, then you must pay 2290 HVUT. For calculating the HVUT tax, you must have some basic details. Here, we provide how to calculate the Heavy vehicle Used Tax.

Details Required For HVUT Calculation

As a trucker, you must note the date when you are using your vehicle for the first time. That means you must record the tax period. And you must know the taxable vehicle weight. If your vehicle weight is less than 55,000 pounds, then you no need to pay HVUT with the IRS. Based on the vehicle weight and type of vehicle, your heavy vehicle used tax can be calculated. If you have a logging vehicle, then the HVUT rate is less compare to except logging vehicles.

Example of the Tax Calculation

Olivia paid the full tax period tax for the use of her 80,000 pounds taxable gross weight vehicle on July 5, 2021. Joseph purchased the used truck from Olivia on September 5, 2021. He drove it on the public highway from Olivia’s home to his own home the next day. Olivia can claim a credit or refund of the tax she paid for the nine months after the sale. Joseph’s first taxable use was to drive the truck to his home in the month of sale. And his prorated tax figured from the first day of October month, through the end of the tax period, June 30, 2021. The due date of Joseph’s Form 2290 does not change. So, Joseph must file by October 31, 2021. If the filing date is a holiday, then he must file the next working day.

The vehicle weighs more than 75,000 pounds so the HVUT \$550 per annum. But Joseph used the vehicle for nine months from October to June. Joseph tax: 9/12 of \$550 = \$412.50. Joseph should list “202110” on line 1 and \$412.50 on column 2 in the category V line.

Easy Tax Computation

How To Calculate The Heavy Vehicle Used Tax? If you are using electronic filing, then you get your heavy vehicle used tax automatically. Through electronic filing, you get an accurate calculation. If you use paper filing, you can manually calculate the tax. Through paper filing, you have a chance to get an error or mistake. But electronic filing gives accurate tax calculation. So, the Internal Revenue Service encourages e-filing for users who want to file the 2290 tax form. Truckers want to report more taxable vehicles on a single form, and then online filing is a better option. Through online filing, the tax calculation is easy for multiple vehicles. If the taxpayer wants to report more than 25 vehicles on a single tax form, then he must use online filing. The taxpayer has a chance to report up to 24 vehicles through paper filing.