Budget for IFTA

Just make sure to buy some fuel in the states you run and you shouldn't owe much at the end of the quarter.

 

^^^^^^^ what he said.

 

Yup. It's usually chump change.

 

Not exactly true. I will explain why......

Lets say for the purpose of this example, that Illinois and Indiana pump price is $2.50/gallon.
Illinois fuel tax rate runs $.40 ( it changes somewhat quarterly) but close to this.
Indiana is $.16 ( I'm close on this)
Subtract the tax rate from pump price and that's your base cost. The front of your map has fuel tax rates FYI.

Illinois-- $2.50-.40= $2.10 base
Indiana- $2.50-.16= $2.34 base
Then Indiana charges a surcharge of $.11 after the fact on quarterly and I think KY does too if memory serves me correct.

Illinois will carry lesser states like MO,IN,AL...etc.

Always figure your base. I feel better to pay now then to owe. Always buy IL PA OH NY NJ FL MI

Avoid IN KY AL.

Does this make sense?

 

Buy your fuel in Illinois. The best advice for fueling is to buy fuel where the diesel component is the cheapest. In Indiana, the pump price is low, but you still have to pay the surcharge, which isn't collected at the pump. The rack price in Illinois is in the top three week in week out for being the cheapest in the country. As the IFTA collected at the pump is very high, you will have a built in savings.

 

And don't feel like a noob. A lot of veteran truckers don't even understand the fuel tax deal. I can't tell you how many times I've explained this to other drivers. It's not even funny. Do your own IFTA reporting, don't pay someone to do it. It's really easy and you will then see how it works.

 

this app is awesome to compare prices on the spot https://play.google.com/store/apps/details?id=ca.gasvalue&hl=en

 

I support this.

I take the time to read everything. Despite my own feelings regarding illiniois fuel of I was in Ontario and at home needing US Fuel... NY? Hell no. Illinois? Sure you bet, why not? :et's do it.

 

Fuel book App. Will give you pump retail price and base price without fuel tax.

I run all over and try to fuel at cheapest base price. The most I have ever paid on a quarterly return was $50.