IFTA Questions
Ok, I'm sorry in advance for asking, but I don't have the energy to sift through 3,000 posts to find this answer. Hopefully someone will help me out and not yell at me too much!
IFTA........ I have a dully and 3 car wedge! I'll be registered for 32,500 so I'll need IFTA stickers. My question is this... When I report.......I only report on the fuel that I purchased, right? I have heard that you have to keep track of exact miles in every state ALONG with fuel that you purchase anywhere. I read the IFTA info and to me it reads that you report quarterly to you state of all the fuel PURCHASED, what kind of fuel, and where you bought it. Is this right, or can someone link me to the write explaination or TELL me please? Thanks for reading, and hopefully this hasen't been asked 20,000 times already! Chop |
Re: IFTA Questions
Quote:
|
Knowing rules and regulations BEFORE you go into business is a good thing...
|
Quote:
Under IFTA, fuel tax owed is computed by the miles driven in a state. When you buy fuel, the tax paid on that fuel at the pump is credited to the total fuel tax bill. Fuel taxes are figured, filed, and paid quarterly. So you need to keep track of how many miles you drive in all states. |
....and this can be done with good software programs like PC*Miler or even better with ProMiles XF ----you can "estimate" the actual hub miles by each state you ran across- instead of writing down the odometer reading each time you cross a state line(old school).
ProMiles XF will even tell you where you can get the best deal on fuel---which isn't always just the price at the pump--but you got to take into consideration what the tax+ distance tax across a state is going to be. By tracking your total mileage across each state over a quarter- you can figure up how much fuel you've bought in various states and how much tax you're going to be left due to pay out of pocket----this becomes an important factor in deciding which state to buy fuel in later on during the course of the business cycle. |
Re: IFTA Questions
Quote:
Simple rule is miles = tax if you fuel in Texas and purchase fuel in each state it still does not add to the number of highway tax miles in each state.. But if you stay in same state the rule changes.. I would do 3 things log state and miles and fuel purchased in each state.. At the end of the year heck they might even owe you some coin back.. :twisted: |
All times are GMT. The time now is 06:30 AM. |
User Alert System provided by
Advanced User Tagging v3.3.0 (Lite) -
vBulletin Mods & Addons Copyright © 2024 DragonByte Technologies Ltd.