Vehicle title transfer is the process where the title of the possession of a vehicle is transferred from someone to another. This is often the case when selling your auto to another person If you own, drive, or manage a commercial vehicle in the United States of America, then you have to pay commercial vehicle taxes. While these taxes are bashed by lots of people for their sheer existence, there is a good reason behind why these taxes were introduced initially. There are two basic types of commercial vehicle taxes – highway use tax and heavy highway use tax. These taxes should be filed using IRS form 2290, and thus are federal taxes. Before we explain about these taxes, let us see what IRS means by a “commercial vehicle.”.
According to the IRS, any automobile that has a total weight of 55,000 lbs or higher is considered a commercial vehicle, and if it drives a minimum of 5000 miles annually on public highways, it is commanded to pay the commercial vehicle taxes in the form of highway use tax and heavy highway use tax. The Internal Revenue Service (IRS) gathers these taxes and distributes it back between the states to take care of and develop highways and other roads.
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The highway use tax is reviewed on an annual basis by the IRS on commercial vehicles (as defined above) that travel 5000 miles or more on public highways in a year. The existing highway-use taxes are fixed at $ 100 plus an additional $ 1000 per 1000 pounds over 55,000 lbs, and at $ 550 for vehicles that have a total weight of over 75,000 lbs. This tax is levied as commercial vehicles are heavy and can cause extensive wear to public roads when traveled for the specified distance yearly. Not just that, these vehicles can cause more harm than other if involved in accidents with regular vehicles – both to the highway itself and other trucks. These taxes are used to install new highways and roads, and maintain these and existing roadways.
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- Highway Use Tax
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- IRS Heavy Highway Use Tax 2290
- Heavy Highway Use Tax Form 2290
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- Truck Fuel And Mileage Report
The heavy highway use tax is the same as the general highway use tax, i.e. it follows the same rules. While these commercial vehicle taxes are levied on business and contractors that drive entire fleets of commercial vehicles, there are many groups that are exempt from the highway use tax and heavy highway use tax. These consist of state and local governments, vital services like the fire department, the police department, ambulance associations and rescue squads, the federal government and the American Red Cross. These official bodies apart, commercial vehicles that do not travel greater than 5000 miles each year do not need to pay these taxes. In order to be exempt, the manager of the vehicle must do mileage reporting and submit all forms to the IRS every year.
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Other vehicles that are exempt from the commercial vehicle taxes include agricultural vehicles that do not travel much more than 7500 miles per year, blood collector vehicles, and vehicles that are allowed to travel on public highways but are not considered commercial – like trucks that transport mobile machinery, off road vehicles etc. You can file your IRS form 2290 either manually or online. The more convenient method is to file online, and be finished with it. Make sure you have copies of your commercial vehicle’s registration and renewal certificates, as you have to attach them to the form.
- Alabama Mileage Reporting
- Arizona IRS 2290
- California Fuel Tax Report
- Connecticut Highway Use Tax
- Georgia Heavy Highway Use Tax
- Idaho Mileage Reporting
- Indiana Mileage Reporting
- Maine 2290 Heavy Highway Use Tax
- Massachusetts 2290 Heavy Highway Use Tax
- Minnesota IRS 2290s
- Missouri Heavy Highway Use Tax
- New Jersey IRS 2290
- Ohio IRS 2290s
- Pennsylvania 2290 Heavy Highway Use Tax
- South Carolina 2290 Heavy Highway Use Tax
- Tennessee IRS 2290
- Texas IRS 2290s
- Virginia Heavy Highway Use Tax
- West Virginia IRS 2290s
- Wisconsin 2290 Heavy Highway Use Tax