67,000 lb Truck Tax in Mississippi

Understanding Form 2290 for a 67,000 lb Truck in Mississippi

As a trucking professional operating a vehicle with a gross vehicle weight of 67,000 lbs in Mississippi, 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 comprehensive overview of Form 2290 requirements specifically for your situation.

The HVUT is an annual tax levied on heavy vehicles operating on public highways in the United States. The purpose of this tax is to ensure that those who benefit most from the highway system contribute to its maintenance and improvement. This applies regardless of whether your trucking operation is based in Mississippi or if you simply operate your vehicle within the state.

Determining Your Tax Liability

The HVUT is calculated based on the vehicle's gross taxable weight. For a truck weighing 67,000 lbs, the calculation is straightforward. The IRS provides a table in the Form 2290 instructions outlining the tax rates. As of the latest guidance, the HVUT rate is $100 for vehicles weighing between 55,000 and 75,000 pounds, plus an additional $22.00 for each 1,000 pounds (or fraction thereof) over 55,000 pounds.

Therefore, for a 67,000 lb truck, the calculation is as follows:

• Base Tax: $100
• Weight Exceeding 55,000 lbs: 67,000 - 55,000 = 12,000 lbs
• Additional Tax: (12,000 / 1,000) * $22.00 = 12 * $22.00 = $264.00
• Total HVUT: $100 + $264.00 = $364.00

So, the HVUT due for your 67,000 lb truck in Mississippi will be $364.00.

Filing Deadlines and Methods

The filing deadline for Form 2290 is generally August 31st for the tax period beginning July 1st and ending June 30th of the following year. If you put a 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 start using the truck in Mississippi in September, you have until the end of October to file.

You can file Form 2290 either electronically or by mail. However, the IRS strongly encourages electronic filing, especially for those filing for 25 or more vehicles. Electronic filing (e-filing) offers several advantages, including faster processing, immediate confirmation of receipt, and reduced errors.

To e-file Form 2290, you must use an IRS-approved software provider or transmitter. Several providers offer user-friendly platforms with step-by-step instructions. Filing by mail requires downloading Form 2290 from the IRS website, completing it accurately, and mailing it to the appropriate IRS address listed in the instructions.

Required Information

When filing Form 2290, you'll need the following information:

• Your Employer Identification Number (EIN). Social Security Numbers (SSNs) are not allowed.
• The vehicle identification number (VIN) of each taxable vehicle.
• The gross taxable weight of each vehicle.
• The date the vehicle was first used on public highways during the tax period.

Important Considerations for Mississippi Truckers

While federal law dictates the core of Form 2290 requirements, operating a truck in Mississippi might have state-specific implications. Ensure your vehicle complies with all Mississippi Department of Transportation (MDOT) regulations, including registration and permitting requirements. Failure to comply with state regulations could result in fines and penalties, separate from the federal HVUT. Always keep a copy of Schedule 1 (proof of payment) in your truck as evidence that you've paid the HVUT.