With the summer heat also comes the time to file your Form 2290 Heavy Vehicle Use Tax. If your company has trucks and/or buses used on the highway with a taxable gross weight of 55,000 pounds or more and are registered in the U.S., Canada or Mexico, you’re required to pay the tax.

While this isn’t new, the details can be challenging for motor carriers.

When do I file?

The tax year for HVUT starts on July 1 and goes through June 30 of the following year. For vehicles you have registered and in operation in July, you must file and pay the tax by the last day of the month following the month the vehicle was used in the tax year, which in this case is August 31.

Guided Walkthrough with 2290 Tax ExpertsTax on a 55,000-pound vehicle starts at $100 and increases by $22 for every 1,000 pounds over 55,000 pounds, so a 60,000-lb vehicle would cost $210. However, all vehicles weighing 75,000 pounds or more max-out at $550 in taxes.

Does mileage matter?

If you only expect to operate your vehicle 5,000 miles or less during the reporting period (or 7,500 miles or less for agricultural vehicles), no tax payment is required. However, you still must file a Form 2290 and Schedule 1 and declare these vehicles as suspended from tax.

But if you unexpectedly end up operating a vehicle on which a suspension was claimed beyond the 5,000/7,500 miles threshold, you must file an amendment and pay the tax.

Are there additional filings?

Many HVUT filers are unaware that they may be subject to additional, off-cycle HVUT filings throughout the year, especially if you add qualifying vehicles to your fleet. For example, if you buy a taxable vehicle in March and used it on the road that month, you must pay a partial tax on the vehicle by April 30 to cover use on the road through June 30. The vehicle would then be included on the next year’s HVUT filing, with the full tax due.

Are any credits or refunds available?

There are credits and refunds for vehicles that were either sold, stolen or destroyed, or that did not end up exceeding the mileage use limit.

By understanding the details and requirements of HVUT, you can be sure you're protecting your company by not paying too little … or paying too much!