64,000 lb Truck Tax in Indiana

Understanding Form 2290 Tax for Your 64,000 lb Truck in Indiana

As an owner-operator or trucking company operating a vehicle with a gross taxable weight of 64,000 lbs in Indiana, 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 detailed overview of Form 2290 requirements specifically for your situation, ensuring you understand your obligations and can file accurately and on time.

What is Form 2290 and Who Needs to File?

Form 2290, officially titled the Heavy Highway Vehicle Use Tax Return, is used to report and pay HVUT on heavy highway vehicles operating on public roads in the United States. Any vehicle with a gross taxable weight of 55,000 pounds or more is subject to this tax. Since your truck weighs 64,000 lbs, you are required to file Form 2290.

Calculating Your HVUT Liability

The HVUT is calculated based on the vehicle's gross taxable weight. The current tax rates are structured as follows:

• Vehicles weighing 55,000 to 75,000 pounds: $100 base tax plus $22.00 for each 1,000 pounds (or fraction thereof) over 55,000 pounds.
• Vehicles weighing over 75,000 pounds: $550

For your 64,000 lb truck, the calculation would be:

$100 + (($64,000 - $55,000) / 1,000) * $22 = $100 + (9 * $22) = $100 + $198 = $298.

Therefore, the HVUT due for your 64,000 lb truck operating in Indiana is $298.

Filing Deadline and Tax Period

The HVUT tax year runs from July 1st to June 30th. You must file Form 2290 and pay the HVUT by August 31st for vehicles that are in operation on July 1st. If you place 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.

For example, if you start using your 64,000 lb truck in Indiana on September 15th, you must file Form 2290 by October 31st.

How to File Form 2290

You have two options for filing Form 2290:

• Electronically (e-file): The IRS encourages electronic filing, especially for those filing for 25 or more vehicles. E-filing is generally faster, more accurate, and provides immediate confirmation of receipt. You will need to use an IRS-approved e-file provider.
• By Mail: You can download Form 2290 from the IRS website, complete it, and mail it to the address listed on the form. Make sure to use certified mail.

Required Information for Filing

To complete Form 2290, you will need the following information:

• Your Employer Identification Number (EIN). A Social Security Number (SSN) cannot be used.
• Your Vehicle Identification Number (VIN) for each truck.
• The gross taxable weight of each truck.
• Your business name and address.

Proof of Payment: Schedule 1

After you file Form 2290 and pay the HVUT, you will receive Schedule 1, which serves as proof of payment. You need to keep a copy of Schedule 1 in your vehicle as proof that you have paid the HVUT. Many states, including Indiana, require this proof for vehicle registration.

Penalties for Non-Compliance

Failure to file Form 2290 on time or pay the HVUT can result in penalties. These penalties can include interest charges and substantial fines. To avoid penalties, ensure you file and pay on time and accurately.