59,000 lb Truck Tax in New Hampshire

Understanding Form 2290 for a 59,000 lb Truck in New Hampshire

As an owner-operator or trucking company operating a vehicle with a gross vehicle weight of 59,000 lbs in New Hampshire, you're likely subject to the Heavy Vehicle Use Tax (HVUT), reported annually using IRS Form 2290. This guide provides a comprehensive overview of Form 2290 as it applies specifically to your truck in New Hampshire.

The HVUT is a federal excise tax levied on heavy highway vehicles operating on public roadways with a taxable gross weight of 55,000 pounds or more. The tax is used to fund highway infrastructure projects across the United States. It's crucial to understand your obligations to ensure compliance and avoid potential penalties.

Determining Your Taxable Gross Weight

The taxable gross weight isn't simply the empty weight of your truck. It includes the:

• Empty weight of the truck (tractor)
• Empty weight of any trailers typically used with the truck
• Maximum load typically carried on the truck and trailer(s)

Since your truck has a gross vehicle weight of 59,000 lbs, it falls well within the taxable weight category for HVUT. You must file Form 2290 and pay the appropriate tax.

Filing Form 2290

The filing period for Form 2290 runs from July 1st to June 30th. You must file by August 31st of each year for vehicles in use during July. If you place a new taxable vehicle into service after July, you must file Form 2290 by the last day of the month following the month the vehicle was first used on public highways.

For instance, if you put your 59,000 lb truck into service in New Hampshire on September 15th, you must file Form 2290 by October 31st.

How to File Form 2290

You have two options for filing Form 2290:

1. E-file: The IRS encourages electronic filing (e-file) for Form 2290. E-filing is generally faster, more accurate, and offers confirmation of receipt. You'll need to use an IRS-approved e-file provider.
2. Mail: You can download Form 2290 from the IRS website (irs.gov) and mail the completed form along with your payment to the address specified in the form's instructions. Be aware that processing times for mailed returns are typically longer.

Calculating Your HVUT Tax Liability

The HVUT rate is based on the taxable gross weight of the vehicle. For vehicles weighing 55,000 pounds or more, the tax is calculated as follows:

• $100 base tax
• $22 for each 1,000 pounds (or fraction thereof) over 55,000 pounds.

For your 59,000 lb truck, the calculation would be:

$100 + ($22 x 4) = $188

Therefore, the HVUT due for your 59,000 lb truck in New Hampshire would be $188. Note that these rates are subject to change, so always refer to the latest IRS guidance.

Keeping Records

It's essential to maintain accurate records related to your Form 2290 filing. Keep copies of your filed forms, payment confirmations, and any supporting documentation used to determine your taxable gross weight. These records can be crucial in the event of an audit.

Exemptions and Suspensions

Certain vehicles may be exempt from HVUT or eligible for a suspension of the tax. Common exemptions include:

• Vehicles used exclusively for farming purposes and travel limited mileage
• Vehicles owned by state or local governments
• Vehicles with a gross vehicle weight less than 55,000 pounds
• Vehicles that travel less than 5,000 miles (7,500 for agricultural vehicles) during the tax year (suspension)

If you believe your vehicle qualifies for an exemption or suspension, carefully review the Form 2290 instructions for specific requirements and documentation.