67,000 lb Truck Tax in Arkansas

Understanding Form 2290 Tax for a 67,000 lb Truck in Arkansas

If you operate a heavy highway vehicle with a taxable gross weight of 55,000 pounds or more on public highways, you are likely required to file Form 2290, Heavy Vehicle Use Tax Return. This applies to trucks operating in Arkansas just as it does across the United States. This guide specifically addresses the 2290 tax implications for a truck weighing 67,000 pounds operating in the state.

The Heavy Vehicle Use Tax (HVUT) is an annual fee assessed by the Internal Revenue Service (IRS) on heavy vehicles operating on U.S. public roadways. The funds generated from the HVUT are used to maintain and improve the nation's highway infrastructure. Understanding your obligations under Form 2290 is critical for compliance and avoiding penalties.

Determining Taxable Gross Weight

Taxable gross weight isn't simply the empty weight of your truck. It encompasses the unloaded weight of the vehicle, plus the unloaded weight of any trailers customarily used in combination with the vehicle, plus the weight of the maximum load carried on the vehicle and any such trailers. In your case, with a 67,000-pound truck, this entire weight is subject to the HVUT.

2290 Tax Rates for Trucks Over 55,000 lbs

The 2290 tax is calculated based on the vehicle's taxable gross weight. As of 2023, the tax rate is $100 for vehicles weighing 55,000 pounds or less, plus an additional $22.00 for each 1,000 pounds (or fraction thereof) over 55,000 pounds. For your 67,000 lb truck, the calculation would be:

• Base Tax: $100
• Weight Exceeding 55,000 lbs: 67,000 - 55,000 = 12,000 lbs
• Additional Taxable Increments: 12,000 lbs / 1,000 lbs = 12
• Additional Tax: 12 x $22.00 = $264
• Total 2290 Tax: $100 + $264 = $364

Therefore, the estimated 2290 tax for your 67,000 lb truck operating in Arkansas is $364. This amount is due annually.

Filing Deadlines and Payment Options

The filing period for Form 2290 runs from July 1st to June 30th. The deadline to file and pay your HVUT is August 31st of each year. For instance, for the period starting July 1, 2024, and ending June 30, 2025, you must file and pay by August 31, 2024.

The IRS offers several payment options:

• 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 Treasury.
• Check or Money Order: Payable to the U.S. Treasury; include your EIN, tax year, and Form 2290 information.

E-filing Requirements

If you are filing Form 2290 for 25 or more vehicles, you are required to e-file. However, even if you have fewer than 25 vehicles, e-filing is highly recommended for its speed, accuracy, and convenience. Several IRS-approved e-file providers are available to assist you with the process.

Exemptions and Suspensions

Certain vehicles may be exempt from the HVUT or have their tax suspended. These include:

• Vehicles used for less than 5,000 miles during the tax year (7,500 for agricultural vehicles).
• Vehicles owned by state or local governments.
• Certain blood collector vehicles.

If your vehicle qualifies for an exemption or suspension, you still need to file Form 2290 and claim the appropriate exemption. Schedule 1 of Form 2290 is used to report vehicles with a suspended tax.