What You Should Know About IFTA Quarterly Tax Return
Any person who holds a license under the International Fuel Tax Agreement is supposed to declare an IFTA Quarterly Tax Return . In order to remain in operation and on the right side of the law, truckers must comply with a variety of rules and regulations concerning the roads usage. For example, if your vehicle exceeds a gross weight of 55,000 pounds or more, you will have to submit an HVUT Tax Filing . IFTA is a joint arrangement among 48 states in the U.S. and 10 provinces in Canada. It requires cross - border carriers to register and submit taxes on fuel consumed by their vehicles throughout states using a single fuel tax licence. IFTA has defined coherence and productivity in the collection of fuel taxes between states parties. Besides the advantages of IFTA to trucking companies, the treaty also provides that states are fully paid for using heavy commercial vehicles on their highways. Taxes are collected yearly and are used for the upkeep and maintenance of these highways. It is
