57,000 lb Truck Tax in New Hampshire

Understanding Form 2290 Heavy Vehicle Use Tax in New Hampshire for a 57,000 lb Truck

As a trucking professional operating in New Hampshire with a truck weighing 57,000 lbs, you are likely subject to the Heavy Vehicle Use Tax (HVUT) and required to file Form 2290 with the Internal Revenue Service (IRS). This guide provides a comprehensive overview of Form 2290 requirements specific to your situation, helping you understand your obligations and ensure compliance.

The HVUT is an annual tax assessed on heavy vehicles operating on public highways with a gross taxable weight of 55,000 pounds or more. The tax is used to fund highway maintenance and infrastructure projects across the country. It's crucial to understand that this is a federal tax, meaning that the specific location of New Hampshire only affects factors like your business address on the form, not the core tax rates.

Determining Your Tax Liability

For a truck weighing 57,000 lbs, the IRS uses a graduated scale to determine the HVUT amount. As of the latest IRS guidelines, the tax is calculated as follows:

• Base Tax: $100
• Additional Tax: $22.00 for each 1,000 pounds (or fraction thereof) over 55,000 pounds.

In your case, since your truck weighs 57,000 lbs, you are 2,000 lbs over the 55,000 lb threshold. Therefore, the calculation would be:

$100 (Base Tax) + (2 x $22.00) = $100 + $44 = $144.

Therefore, the annual HVUT due for your 57,000 lb truck in New Hampshire is $144.

Filing Form 2290: Key Considerations

Form 2290 must be filed annually, typically by August 31st for the tax period beginning July 1st of the same year and ending June 30th of the following year. If you place a new truck into service after July, you must file Form 2290 by the end of the month following the month the vehicle was first used on public highways.

You have the option to file Form 2290 either electronically (e-file) or by mail. The IRS encourages e-filing, especially for taxpayers filing for 25 or more vehicles, as it's faster and more efficient. E-filing also allows for immediate confirmation of acceptance.

Required Information for Form 2290

When filing Form 2290, you'll need to provide the following information:

• Employer Identification Number (EIN): You must have an EIN to file Form 2290. A Social Security Number (SSN) is not acceptable.
• Vehicle Identification Number (VIN) for each truck.
• Gross Taxable Weight of each truck.
• Taxable Gross Weight Category (determined by the weight of your truck).
• Your business name and address (your New Hampshire address in this case).

After filing Form 2290 and paying the HVUT, you will receive Schedule 1 (Form 2290) as proof of payment. Keep this document in your vehicle as it may be required for registration and other purposes.

Penalties for Non-Compliance

Failure to file Form 2290 on time or pay the HVUT can result in penalties. These penalties can include:

• Failure to File Penalty: 4.5% of the total tax due, assessed monthly, up to a maximum of 22.5%.
• Failure to Pay Penalty: 0.5% of the unpaid tax, assessed monthly, up to a maximum of 25%.
• Interest: Charged on underpayments and late payments.

To avoid these penalties, ensure you file Form 2290 and pay the HVUT on time. Consider using a trusted tax professional or e-filing provider to help you navigate the process.