If the gross taxable weight of the vehicle decreases to less than 55,000 pounds or if the mileage use limit of the vehicle is less than 5000 miles (for non-agricultural vehicles) and 7500 miles (for agricultural vehicles), then you need to report such vehicles on HVUT 2290 Form as “tax suspended” vehicles.
How do vehicle categories impact HVUT taxes?
There are a variety of vehicles that are reported on HVUT forms, including agricultural vehicles, non-agricultural vehicles, logging vehicles, non-logging vehicles, credit vehicles, and suspended vehicles.
Each of these vehicles is designated by a certain category. This category has a corresponding tax rate as seen above.
It’s fair to say that the vehicle categorization directly impacts the HVUT tax imposition on the vehicle.
If one of the two changes, the other also changes.
How to report vehicle categories on HVUT Form 2290?
Reporting vehicle categories on Form 2290 is relatively easy.
All you need is the accurate figure of the taxable gross weight of the vehicle and the number of vehicles in the specific weight range.
Just enter the number of the vehicles in the “tax computation” section of the IRS 2290 Form, and you’re good to go.
Let’s say that you own a fleet.
You have 2 heavy trucks that weigh 56,000 pounds each (Category B).
You have a heavy-duty truck that weighs 65,000 pounds (Category K)
You also have a vehicle that is under-utilizing its mileage limit (Category W).
Just enter the number of vehicles in the relevant columns per the logging status and the tax period, and compute the tax.
You don’t have to go through humongous paperwork to report the vehicle category.
Vehicle categories are pre-defined on Form 2290.
However, you will need to enter the vehicle categories on Schedule 1 of Form 2290 along with the vehicle identification number.
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EZ2290, Powered by Zenwork, Inc., is an IRS-Approved eFile provider for Form 2290 filings. This blog provides informative articles on Form 2290 compliance, expert tips, insights, engaging stories related to truck drivers and trucking regulations.