64,000 lb Truck Tax in Missouri

Understanding Form 2290 for Your 64,000 lb Truck in Missouri

As a trucking professional operating a vehicle with a gross vehicle weight of 64,000 lbs in Missouri, you're likely required to file Form 2290, the Heavy Vehicle Use Tax (HVUT). This federal tax applies to vehicles operating on public highways with a taxable gross weight of 55,000 pounds or more. The IRS uses Form 2290 to collect this tax annually.

Taxable Gross Weight: It's crucial to understand what constitutes taxable gross weight. This isn't simply the empty weight of your truck. It includes:

• The empty weight of the vehicle.
• The empty weight of any trailers customarily used in combination with the vehicle.
• The weight of the maximum load customarily carried on the vehicle and any trailers.

For your 64,000 lb truck operating in Missouri, the HVUT applies. The tax rate is based on the taxable gross weight. As of the most recent IRS guidelines, the rate is $100 per year for vehicles weighing 55,000 pounds or more, plus an additional $22 for each 1,000 pounds (or fraction thereof) over 55,000 pounds.

Calculating Your 2290 Tax for a 64,000 lb Truck

Let's break down the calculation for a truck weighing 64,000 lbs:

1. Base Tax: $100
2. Excess Weight: 64,000 lbs - 55,000 lbs = 9,000 lbs
3. Tax on Excess Weight: 9,000 lbs / 1,000 lbs = 9 (We use the whole number here)
4. Tax on Excess Weight (Dollars): 9 * $22 = $198
5. Total Tax Due: $100 (base) + $198 (excess) = $298

Therefore, the annual HVUT due for your 64,000 lb truck in Missouri is $298. This amount is due each year by the last day of August. If you put your truck into service after July, the tax is prorated based on the month you begin operating it.

Filing Form 2290 in Missouri: Options and Deadlines

You have two primary options for filing Form 2290:

• E-File: The IRS encourages electronic filing (e-filing) for Form 2290. It's faster, more accurate, and you receive your stamped Schedule 1 (proof of payment) almost immediately. Several IRS-approved e-file providers are available.
• Mail: You can also file Form 2290 by mail. However, this method is slower, and processing times are longer. The address for mailing Form 2290 varies depending on whether you are including a payment. Check the IRS website for the most current mailing address.

Key Deadlines: The filing deadline for Form 2290 is typically August 31st for the tax period beginning July 1st and ending June 30th of the following year. If you begin operating your truck 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 example, if you start using your truck on Missouri roads in October, you must file Form 2290 by the end of November.

Record Keeping: Maintain accurate records of your vehicle's weight, mileage, and any other relevant information related to your Form 2290 filing. The IRS may request documentation to support your filing.

Exemptions and Credits

While most heavy vehicles are subject to HVUT, certain exemptions and credits may apply. These include:

• Low-Mileage Vehicles: If you expect to drive your truck 5,000 miles or less during the tax year (7,500 miles for agricultural vehicles), you may be exempt from paying the HVUT. You still need to file Form 2290 and claim the suspension.
• Vehicles Used for Exempt Purposes: Certain vehicles used for specific purposes (e.g., exclusively for logging, certain government-owned vehicles) may be exempt.
• Credits for Sold or Destroyed Vehicles: If you sell or destroy your truck during the tax year, you may be eligible for a credit or refund of the HVUT you already paid.

Consulting with a tax professional specializing in trucking taxes is highly recommended to ensure accurate filing and to identify any applicable exemptions or credits.