If you need to use the highway a lot as part of your job, you may need to pay taxes. The following will tell you how much, if anything, you need to pay.
Heavy Highway Use Tax Form 2290
Highways are expensive to construct and maintain. While it’s impossible to charge everyone in the United States for their use of highways (besides putting tolls everywhere), the government has found a way to tax some of the heaviest users – operators of heavy vehicles.
Since heavy vehicles are often the ones that cause damage to highways, the government is taxing some of those operators to cover the cost of repairs. Not all heavy vehicle operators, though. Just the ones that drive vehicles that are 55,000 pounds or more, and travel more than 5,000 miles. Those who meet this criteria need to complete the Heavy Highway Use Tax Form 2290.
How Much to Pay
If your vehicle is less than 55,000 lbs., you are not required to file or pay taxes. If your vehicle is 55,000 to 75,000 lbs., you will be required to pay $100 plus $22 for each $1,000 pounds over 55,000 lbs. Any vehicle over 75,000 lbs. has a tax liability of $550.
When to File Form 2290
Form 2290 should be filed by the last day of the month following the first month you started using public highways. For instance, if you start driving in February, you need to file the form by the last day of March.
If You Don’t File
If you do not file Tax Form 2290 as needed, you will incur a 4.5% penalty of the taxes due. They will add this penalty for each month you did not pay, which can add up quickly. This is especially true since there’s also a .05% late fee. Some people end up having to pay hundreds of more dollars they originally needed to because they failed to file on time.
To ensure you file your heavy highway use tax return, it’s best to turn to tax professionals who know how to do it and do it on time for you.
About Heavy Highway Use Tax Return Services in Utah
We can help you with your heavy highway use tax return services in Utah. We will complete and file the Form 2290 on time, so you avoid penalties and late charges. Simply contact us today for more information on how we can make this tax liability much easier to deal with.
Your job is to drive a vehicle, not manage taxes. Let us do that job, so you can do your job.