It is always good to determine the estimated tax amount for form 2290 federal heavy vehicle use taxes in advance. Truckdues.com has introduced an online form 2290 tax calculator where you get the estimated tax amount of 2290 tax payment. You just need to choose the first month of vehicle use, taxable gross weight of your vehicle, vehicle type and the number of vehicles along with your e-mail ID to get your form 2290 tax estimate amount directly to your e-mail.
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The tax calculator is a computing application of truckdues.com that gives you the estimated tax amount of truck tax form 2290 for your vehicles. It will come in handy when you are about to pay your annual form 2290 truck tax.
Your truck’s total gross weight is 55,000 lbs or more, so it is considered a taxable vehicle. And you need to file and report the heavy vehicle use tax form 2290 to the IRS annually to operate your truck on public highways.
Taxable gross weight is the total unloaded weight of the truck, including the empty weight of the truck and trailer fully equipped for service, along with all accessories and equipment. Therefore, the gross weight of your truck is one of the major elements for determining your highway truck tax of form 2290, along with the first use month of the vehicle.
Logging vehicles transport lumbers other forestry and agriculture cargo to the respective locations. Therefore, tax rates of form 2290 for logging trucks will differ from other types of taxable trucks.
Generally, a truck needs to run more than 5,000 miles (more than 7,500 for logging vehicles) to become eligible for the highway use tax form 2290. If the truck doesn’t run for that distance in a particular tax period, you need not pay the form 2290 road tax, still form 2290 has to be reported marking the vehicle suspended or tax exempt . If you already paid the tax, but the truck didn’t cover the eligible miles, then you can avail the credits from the IRS.