67,000 lb Truck Tax in Wisconsin

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

As a Wisconsin-based trucker operating a vehicle with a gross taxable weight of 67,000 pounds, you are likely required to file Form 2290, the Heavy Vehicle Use Tax (HVUT) return, with the Internal Revenue Service (IRS). This guide provides a comprehensive overview of Form 2290 requirements, specifically tailored for your 67,000 lb truck operating within Wisconsin.

What is the Heavy Vehicle Use Tax (HVUT)?

The Heavy Vehicle Use Tax, mandated under IRS Section 4481, is a federal excise tax imposed annually on heavy highway vehicles operating on public roads in the United States. It applies to vehicles with a gross taxable weight of 55,000 pounds or more. The tax is used to fund highway maintenance and infrastructure projects.

Is My 67,000 lb Truck Subject to HVUT?

Yes. Since your truck's gross taxable weight is 67,000 pounds, it exceeds the 55,000-pound threshold and is therefore subject to HVUT. You must file Form 2290 and pay the appropriate tax amount.

How is the HVUT Calculated for a 67,000 lb Truck?

The HVUT is based on the vehicle's gross taxable weight. For vehicles weighing between 55,000 and 75,000 pounds, the tax rate is a base amount plus an additional amount for each 1,000 pounds (or fraction thereof) over 55,000 pounds. As of the current tax year (July 1, 2023 – June 30, 2024), the tax rate is $100 plus $22.00 for each 1,000 pounds over 55,000 pounds.

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

1. Weight exceeding 55,000 lbs: 67,000 lbs - 55,000 lbs = 12,000 lbs
2. Number of 1,000 lb increments: 12,000 lbs / 1,000 lbs = 12
3. Tax on incremental weight: 12 increments * $22.00/increment = $264.00
4. Base tax: $100
5. Total HVUT: $100 + $264.00 = $364.00

Therefore, the HVUT for a 67,000 lb truck in Wisconsin for the current tax year is $364.00.

When is Form 2290 Due?

The Form 2290 filing deadline is generally August 31st for vehicles that are used on public highways during July. If you put your truck 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. The tax year runs from July 1st to June 30th.

How to File Form 2290 in Wisconsin

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

Here's a summary of the key steps:

1. Determine your filing method: E-file or mail.
2. Gather required information: Employer Identification Number (EIN), Vehicle Identification Number (VIN) for each vehicle, and gross taxable weight of each vehicle.
3. Complete Form 2290: Accurately fill out all sections of the form, including vehicle information, gross taxable weight, and tax calculation.
4. Pay the HVUT: You can pay online via Electronic Funds Withdrawal (EFW), Electronic Federal Tax Payment System (EFTPS), or by check or money order (if filing by mail).
5. Submit Form 2290: E-file through an IRS-approved provider or mail the completed form and payment to the appropriate IRS address. Check the IRS website for the current mailing address based on your state.

Obtaining Proof of Payment - Schedule 1

After filing Form 2290 and paying the HVUT, you'll receive Schedule 1, which serves as proof of payment. This document is crucial for vehicle registration in Wisconsin and other states. Keep a copy of Schedule 1 in your truck for verification purposes.

Exemptions from Form 2290

Certain vehicles are exempt from HVUT. Examples include:

• Vehicles with a gross taxable weight of less than 55,000 pounds.
• Vehicles used for less than 5,000 miles during the tax year (7,500 for agricultural vehicles).
• Vehicles owned by certain government entities.

Important Note: Even if you believe your vehicle is exempt, you may still need to file Form 2290 with a claim for suspension. Consult the IRS instructions for Form 2290 for detailed information on exemptions and suspensions.