I am doing my own quarterly IFTA filing and am now realizing why some people choose to have someone else do this for them. I'm looking for help, hoping someone knows the answer.
How exactly do I figure out the "Tax Paid Gallons" amount? I have read everything that I can find but nothing actually tells me how to figure that amount out.
Thanks in advance!
Reporting quarterly IFTA and need help!
Discussion in 'Trucker Taxes and Truck Financing' started by alex1428, Sep 12, 2013.
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It's all the gallons you purchased, include all gallons for each jurisdiction.
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Are you doing online or the paper method? Either way it's however many gallons you have purchased in each state.
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Does DEF gallons need to be included
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NO, def isn't a taxable fuel.
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use the online excell form you can submitt electronic and pay with credit or depit card, if you keep proper trip sheets and attached your fuel receipt, it is a breeze. takes us about 30 min to do. don't forget to file you KYU also
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First off what state do you live in? Virginia has the DMV web site set up with a web page spreed sheet to enter in miles and gallons to total up what you owe.
This is it in a nutshell.
You will take all the miles you have driven in the quarter total.
Second you will figure out how many miles you ran in each state. Two ways to do that, go through your log dbooks, or look at your GPS, some will tell you how many mile for each state you travled.
Third take all fuel receipts and total them up.
Important! Take the total miles you have driven in the quarter and -
I hate smart phones!
Important, divided the total miles for the quarter by the total gallons you bought.
example, 15,000/2500=6 MPG.
For each state you tracked in you will take the total miles traveled and divide by 6.
Example, Virginia tracked 3000 miles divided by 6=500 gallons you will pay Virginia, but if you bought any fuel in Virginia say 100 gallons you subtract that. You then pay Virginia for 400 gallons at I think right now of $0.17
Comes out to $68.00 -
Tax paid gallons is how many gallons of fuel you bought in each state.
If your truck gets 6 MPG, your paying a tax for every 6 miles you travle in each state. But if you bought some fuel in that state you would subtract those gallons because of the tax already included when you paid for it. It would be a double tax thenLast edited: Sep 13, 2013
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I think your next post addressed this but he would not actually pay the $68 to Virginia. He would get credit from the other states that he bought more fuel than he used in those other states. The only time you actually write a check is when you bought more fuel in a low tax state (as most O/O's do) then burned that fuel on high tax states highways.Lilbit Thanks this.
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