New Mexico IFTA Fuel Tax Report

Before the introduction IFTA, commercial vehicles and trucks would need detached tax permits for every of the states that they were driving through. Port-of-Entry collection stations were erected to gather the tax owed according to that states own private fuel tax laws. This created more work for the states and lagged interstate commerce for trucking business. When registering for the IFTA, you should consider your vehicle type, location, and tax preparation method.

When you sign up for IFTA you will do so in a specific jurisdiction, for example the state of California. It will be in this jurisdiction that you declare your IFTA fuel report and receive either your tax refund or pay any fuel tax owed. The jurisdiction which you need to register for IFTA can be where the qualifying motorized vehicle is registered, where you have an established physical business, or where you file the operational records for that qualifying vehicle. The exact form number that you will need to request will depend on the jurisdiction that your applying in. On your fuel tax report form you should record any jurisdictions taking part in the IFTA that you have traveled through and the fuel that you paid for in that jurisdiction.

[Major] [Minor] From On The Go Transportation

For you to establish if your vehicle meets the requirements and can take part in the IFTA, you need to have what is referred to as a qualifying vehicle. A qualifying vehicle is one that delivers either people or commercial goods. It should also meet the following requirements: have 3 axles or more, or have 2 axles or more and weigh more than just 26,000 lbs, or when used as a combination and weigh beyond 26,000 lbs. You should speak to the motor carrier vehicle section of that jurisdiction and ask to obtain an IFTA license and decals to exhibit on your vehicle. Once complete, you should return it to the regulating body with the required processing fee. Assuming that you meet the requirements for IFTA, you will be issued with the correct license and decals. You are now registered to take part in the IFTA program.

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Every quarter you will need to file your fuel tax report form with the jurisdiction where you registered for IFTA. Even when you did not travel during the period, you must still file a “zero” report form. Once your report form has been processed, any net tax or reimbursement that is due to you will be determined, alongside the fuel taxes that are redistributed to those states where they are due. You should receive a fuel tax report form to the mailing address which you listed when you registered for IFTA. However if you did not you can get in touch with the auto carrier department in your local jurisdiction.

On The Go Transportation – [Major] [Minor]

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IFTA significantly clarified the payment of fuel tax for trucks traveling through more than one state. It is crucial to make sure that you stay in compliance with IFTA regulations. Penalties and fines can be applied to commercial vehicles and trucks which are not correctly registered or who do not file the fuel tax report forms on the due dates.

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