68,000 lb Truck Tax in New Hampshire

Understanding Form 2290 for Your 68,000 lb Truck in New Hampshire

If you operate a heavy highway vehicle with a taxable gross weight of 55,000 pounds or more on public highways, you're likely subject to the Heavy Vehicle Use Tax (HVUT) and required to file Form 2290 with the IRS. For a 68,000 lb truck operating in New Hampshire, this is almost certainly the case. This guide will walk you through everything you need to know about Form 2290 and how it applies to your specific situation.

Taxable gross weight isn't just the weight of the truck itself. It includes the weight of the empty truck, plus the weight of any trailers you typically haul with it, and the maximum load you carry. For instance, even if your truck weighs 20,000 lbs and you haul a 48,000 lb trailer, your taxable gross weight is at least 68,000 lbs, potentially higher depending on your maximum load capacity.

HVUT Rate for a 68,000 lb Truck

The HVUT rate is determined by the taxable gross weight of the vehicle. For vehicles at 55,000 pounds, the current tax rate is $100, plus an additional $22.00 for each 1,000 pounds (or fraction thereof) over 55,000 pounds. For a 68,000 lb truck, the calculation is as follows:

$100 + (($68,000 - 55,000) / 1,000) * $22 = $100 + (13 * $22) = $100 + $286 = $386

Therefore, the annual HVUT due for a 68,000 lb truck is $386. Note that this rate is subject to change, so always consult the IRS instructions for Form 2290.

When to File Form 2290 in New Hampshire

The filing deadline for Form 2290 is generally August 31st. This covers the tax period from July 1st to June 30th of the following year. If you place a new truck into service during the tax year, 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 the truck on New Hampshire roads in November, your filing deadline is the end of December.

How to File Form 2290

You have two options for filing Form 2290:

• Electronically (e-file): The IRS encourages electronic filing, which is mandatory if you are filing for 25 or more vehicles. E-filing is faster, more accurate, and offers immediate confirmation of acceptance. You'll receive a stamped Schedule 1 electronically, which is proof of payment.
• By Mail: You can download Form 2290 from the IRS website, complete it, and mail it to the appropriate IRS address based on your location. However, processing by mail takes significantly longer than e-filing.

Where to Mail: The IRS provides different mailing addresses based on your location. Please refer to the official IRS website for the latest and most accurate mailing addresses.

Required Information for Form 2290

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

• Your Employer Identification Number (EIN).
• Vehicle Identification Number (VIN) for each truck.
• Taxable gross weight of each vehicle.
• Address where the vehicle is registered (typically your New Hampshire address).

Keep Your Records!

It's crucial to keep accurate records related to Form 2290, including the filed form, Schedule 1, and any supporting documentation, for at least three years from the date you filed. These records will be essential in case of an audit or any discrepancies.