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How to fill out international fuel tax agreement

How to fill out international fuel tax agreement

1. To fill out an international fuel tax agreement, follow these steps:
2. Obtain the necessary forms: Start by getting the International Fuel Tax Agreement (IFTA) Application and the IFTA Quarterly Fuel Tax Schedule from your state's department of revenue.
3. Fill in your company information: Provide your company's legal name, address, USDOT number, FEIN, and contact information.
4. Indicate your base jurisdiction: Specify the jurisdiction where your qualified motor vehicles are based.
5. Report vehicle information: List all the vehicles qualified for IFTA and their corresponding information, including license plate number, vehicle type, and gross vehicle weight.
6. Log mileage and fuel usage: Keep a detailed record of the distance traveled and fuel consumed for each IFTA-qualified vehicle within each jurisdiction.
7. Calculate fuel tax liability: Use the mileage and fuel consumption data to determine the amount of fuel tax owed for each jurisdiction.
8. Submit quarterly fuel tax report: Prepare and submit your IFTA Quarterly Fuel Tax Schedule to your base jurisdiction's department of revenue along with the required payment.
9. Maintain records: It is important to keep all supporting documents, including fuel receipts, mileage records, and IFTA licenses, for at least four years, as they may be subject to audit by the tax authorities.
10. Renew your IFTA license: Make sure to renew your IFTA license annually to continue operating in IFTA jurisdictions.
11. Note: The above steps provide a general guideline, but it's advisable to consult your state's specific instructions and regulations for accurate and up-to-date information.

Who needs international fuel tax agreement?

1. Anyone who operates qualified motor vehicles for transporting goods across multiple jurisdictions needs an international fuel tax agreement (IFTA).
2. This includes trucking companies, fleet owners, and independent owner-operators who engage in the interstate transportation of taxable fuel.
3. IFTA simplifies fuel tax reporting by allowing carriers to pay taxes to their base jurisdiction, which then distributes the funds to the other jurisdictions where the vehicles traveled.
4. Without IFTA, carriers would be required to obtain fuel permits and file separate tax returns in each jurisdiction, resulting in significant administrative burdens and potential penalties for non-compliance.

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What is international fuel tax agreement?

The International Fuel Tax Agreement (IFTA) is an agreement between U.S. states and Canadian provinces to simplify the reporting of fuel use taxes by interstate motor carriers.

Who is required to file international fuel tax agreement?

Motor carriers who operate qualified vehicles in multiple jurisdictions are required to file the IFTA.

How to fill out international fuel tax agreement?

To fill out the IFTA, you must provide details of your fuel purchases and miles traveled in each member jurisdiction on the IFTA quarterly tax return forms.

What is the purpose of international fuel tax agreement?

The purpose of the IFTA is to streamline the fuel tax reporting process for interstate motor carriers and ensure that taxes are fairly distributed to the jurisdictions where the fuel is consumed.

What information must be reported on international fuel tax agreement?

The IFTA requires reporting of fuel purchases, miles traveled in each jurisdiction, and the total miles driven during the reporting period.