70,000 lb Truck Tax in New Hampshire

Understanding Form 2290 for Heavy Vehicles in New Hampshire

If you operate a heavy truck with a gross vehicle weight of 70,000 pounds in New Hampshire, you're likely required to file Form 2290, Heavy Vehicle Use Tax Return with the Internal Revenue Service (IRS). This guide provides a comprehensive overview of Form 2290 as it applies to your situation.

The Heavy Vehicle Use Tax (HVUT) is an annual tax levied on heavy highway vehicles operating on public roads in the United States. The tax is determined by the vehicle's taxable gross weight, which includes the unloaded weight of the truck, trailer, and any other attached components, plus the maximum load to be carried on the vehicle.

Who Needs to File Form 2290?

You must file Form 2290 if you own and operate a heavy highway vehicle with a taxable gross weight of 55,000 pounds or more. Since your truck weighs 70,000 pounds, you are required to file Form 2290. This requirement applies regardless of whether your truck is registered in New Hampshire or another state.

Calculating Your 2290 Tax Liability for a 70,000 lb Truck

For a vehicle with a taxable gross weight of 70,000 pounds, the 2290 tax is calculated based on the current IRS tax rates. As of the most recent guidance, the tax is $100 for vehicles weighing 55,000 pounds or more, plus an additional $22 for each 1,000 pounds (or fraction thereof) over 55,000 pounds.

Here's the breakdown for a 70,000 lb truck:

• Base Tax: $100
• Excess Weight: 70,000 lbs - 55,000 lbs = 15,000 lbs
• Number of 1,000 lb increments: 15,000 lbs / 1,000 lbs = 15
• Tax per increment: $22
• Tax for excess weight: 15 increments * $22/increment = $330
• Total 2290 Tax: $100 + $330 = $430

Filing Deadlines and Payment Options

The filing period for Form 2290 starts on July 1st and ends on June 30th of the following year. The due date for filing Form 2290 and paying the HVUT is typically August 31st. If you put a new 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.

You have several options for paying the HVUT:

• Electronic Funds Withdrawal (EFW): Direct debit from your bank account when e-filing.
• Electronic Federal Tax Payment System (EFTPS): A free service provided by the U.S. Department of the Treasury. You must enroll in EFTPS before you can use it.
• Check or Money Order: Make payable to the U.S. Treasury. Include your name, address, phone number, Employer Identification Number (EIN), the tax year, and Form 2290 on the payment.

E-filing Mandate

If you are reporting 25 or more vehicles on Form 2290, you are required to e-file. Even if you have fewer than 25 vehicles, e-filing is highly recommended for its convenience and faster processing times. Several IRS-approved e-file providers offer services to help you file Form 2290 online.

Required Information for Filing

When filing Form 2290, you will need the following information:

• Your Employer Identification Number (EIN). A Social Security Number (SSN) cannot be used.
• Your vehicle identification number (VIN) for each vehicle.
• The taxable gross weight of each vehicle.
• The date the vehicle was first used on public highways during the tax period.

Penalties for Non-Compliance

Failure to file Form 2290 and pay the HVUT on time can result in penalties. Penalties can include:

• Failure-to-file penalty: 5% of the unpaid taxes for each month or part of a month that the return is late, up to a maximum of 25%.
• Failure-to-pay penalty: 0.5% of the unpaid taxes for each month or part of a month that the taxes remain unpaid, up to a maximum of 25%.
• Interest charges on unpaid taxes.