Types Of Vehicles Filed Through Form 2290

A warm welcome truckers, trust you are pink of health. The tax season has already dropped into our calendars. With only one month and handful days in hand, it is the best to file much before the due date.  For obvious reasons. And of course, you will have your schedule 1 copy within minutes.

So today, our topic of discussion is about various types of vehicle for, which the taxes are filed through IRS form 2290. Taxable vehicles are one among them. The list is not long yet, it will allow you to understand your vehicle better and so the filing of taxes.

So to start with, taxable vehicles are in the list.

Taxable Vehicles:

Vehicles that weigh more than 55,000 pounds are counted as taxable vehicles. It is presumed that the heavy truck driving down the highway cause most of the damage. The taxes paid through form 2290 is directly contributed on the maintenance of the highway.

Suspended vehicles:

Another type of vehicle in the list is suspended vehicles. When a vehicle does not cross the minimum mileage i.e. 5,000 miles (and 7,500 miles for agricultural vehicle), they are not counted as the taxable vehicle. They don’t have to pay any taxes, however, they need to keep IRS informed about the suspension through form 2290.

The vehicles that come under this category:

  • ·         Commercial vehicles traveling less than 5,000 and agricultural vehicle is less than 7,500
  • ·         Vehicles that are not considered as highway vehicles that includes mobile machinery for non-transportation function, non-transportation trailers and semi-trailers.
  • ·         Vehicles that are qualified as official blood collectors by blood banks and organizations come under this category

Important: In case, if the annual mile exceeds 5,000 for commercial vehicles and 7,500 for agricultural vehicles, the extra miles are calculated as payable miles.

Exempted Vehicles:

Owned and operated by the government authorities, these vehicles do not need to pay anything to IRS, however, they need to keep IRS informed about their exemption.

Following are the vehicles that come under the category:

  • ·         The Federal Government,
  • ·         The American National Red Cross,
  • ·         The District of Columbia,
  • ·         A nonprofit volunteer fire department, ambulance association, or rescue squad,
  • ·         A state or local government,
  • ·         Indian tribal governments (To carry out essential tribal government functions)
  • ·         Mass transportation authority’s  (under certain conditions)

Also exempt from the tax (not required to file Form 2290) are:

  • ·         Qualified blood collector vehicles used by qualified blood collector organizations, and
  • ·         Mobile machinery that don’t come under the category of heavy vehicle.

Logging Vehicles:

Vehicles that are used exclusively for the conduct of logging operations and designed to do the same come under this category. They majorly deal in transporting logs from forestry area and deliver to the destination, sometimes making use the public highway. They are registered highway vehicles; however, the tax rate is comparatively less than what is paid by the taxable vehicles.

Note: There is no special tag or number place required to identify the vehicle is used for logging or transporting harvested forestry products.

 Agricultural Vehicles:

With the average miles limit 7,500 miles; these vehicles are indulged in delivering agricultural goods in and around the place.

Vehicles under This Category are:

  •              Primarily used for farming purposes
  •              Registered under the state law as a highway motor vehicle but are exclusively used for farming and agricultural purpose.

Important Note: There is no special tag or identification to recognize if the vehicle is exempted from filing form 2290, but a detailed report should be sent to IRS about your usage. Also, if the vehicle crosses more than 7,500 miles, you’re liable to pay Heavy Vehicle Used Tax for the exceeded miles.

So now, you decide where your heavy vehicle fits in and you can file your form 2290 accordingly. Do note, logging vehicles come under taxable vehicles; the only difference is that the taxes they pay are comparatively less. So come over Tax2290.com, a prime product of ThinkTrade Inc. We are glad you were a part of us last year; we hope you sustain the same association this tax season as well. Reach our Tax Experts for more assistance; it would be simply queries or feedback. Simply call us @ 1-866-245-3918 or shoot a simple email with your concerns typed to support@taxexcise.com.

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