62,000 lb Truck Tax in Connecticut

Understanding Form 2290 Tax for Your 62,000 lb Truck in Connecticut

As a trucking professional operating a vehicle with a gross vehicle weight of 62,000 pounds in Connecticut, you're likely subject to the Heavy Vehicle Use Tax (HVUT), reported using IRS Form 2290. This guide provides a detailed breakdown of your 2290 tax obligations, specifically tailored to Connecticut regulations and your vehicle's weight class. It's crucial to understand these requirements to avoid penalties and maintain compliance.

What is the Heavy Vehicle Use Tax (HVUT)?

The HVUT is an annual tax levied by the IRS on heavy highway vehicles operating on public roads with a taxable gross weight of 55,000 pounds or more. This tax helps fund highway maintenance and infrastructure improvements. Form 2290 is the document used to declare and pay this tax. It is essential to file Form 2290 and pay the HVUT on time to avoid penalties.

Connecticut and HVUT: A Federal Tax

It's important to clarify that the HVUT is a federal tax, so the requirements for filing Form 2290 and paying the tax are the same across all states, including Connecticut. While Connecticut doesn't have its own separate HVUT, operating your truck within the state subjects you to the federal regulations.

Calculating Your 2290 Tax for a 62,000 lb Truck

The HVUT is calculated based on the vehicle's taxable gross weight. For a truck weighing 62,000 pounds, the tax calculation is as follows:

• The current HVUT rate is $100 plus $22 for each 1,000 pounds (or fraction thereof) over 55,000 pounds.
• Weight exceeding 55,000 lbs: 62,000 lbs - 55,000 lbs = 7,000 lbs.
• Number of 1,000 lb increments: 7,000 lbs / 1,000 lbs = 7.
• Tax calculation: $100 + ($22 x 7) = $100 + $154 = $254.
• Therefore, the Form 2290 tax for your 62,000 lb truck is $254 for the tax year.

Filing Deadlines and Requirements

The HVUT tax year runs from July 1st to June 30th. Form 2290 must be filed by August 31st for vehicles in use on July 1st. If you put your truck into service after July 1st, you must file Form 2290 by the last day of the month following the month the vehicle was first used on public highways. The IRS encourages electronic filing (e-filing) for faster processing and confirmation. You will need your Employer Identification Number (EIN) to file. Social Security Numbers are not permitted.

Payment Options

The IRS offers several payment options for the HVUT:

• Electronic Funds Withdrawal (EFW): Pay directly from your bank account when e-filing.
• Electronic Federal Tax Payment System (EFTPS): A free service from the U.S. Department of the Treasury.
• Check or Money Order: Make payable to the U.S. Treasury and mail with Form 2290-V, Payment Voucher.

Keep Proof of Payment

After successfully filing Form 2290 and paying the HVUT, you'll receive Schedule 1 (Stamped) from the IRS. This is your proof of payment and must be kept in your vehicle or readily available. You'll need this to register or renew your vehicle registration with the Connecticut Department of Motor Vehicles (CT DMV).