How to do fuel taxes?

roughly how much do one of you pay in quarterly ifta? i realize that it is not exact and a lot variable matter, but a ballpark would do.

 

I was doing the company calculations for owner operators running from NJ to OH,IL, & IA.

They all bought in NJ & IN the lowest pump price states and end up paying 200 - 300 a quarter.

They would have a huge surpluss in NJ @ $0.17 a gal and owe PA over $0.36 a gal for more miles when buying 'some' in PA, IN, OH and IL would have possibly wiped out the taxes. They just could not get past the posted prices in the states.

 

How do toll miles affect IFTA? Do all states with tolls affect IFTA? Which ones? How are they reported on your return?

 

Roughly $50 for me. I know what the tax rates are for the states I run in so I figure out the "best deal" for fuel based on that most of the time.

 

you get a credit against tax due (up to a limit) for any tolls paid in any particular state. you can do your own IFTA filing but there are a lot of agencies and accountants out there that take care of it for less than what your time is likely worth. would you rather be driving or crunching numbers?

 

I understand the distribution IFTA of taxes. How do they equalize it? I see references to mileage. Is there an EASY way to get the mileages as I have crossed state lines 2 or 3 times in 1 day. I am still new to the whole trucking industry and want to try owner op eventually and this may be a major issue. Do I have to write down each road I'm on and how long or what?
I think it has to be here somewhere... may be ME not seeing the "forest for all the trees" type of thing....
Thanks in advance guys

 

We use "Truck Logger" on a laptop in each truck for logging, DVIR and a lot of various reports, including IFTA. It produces a really nice report, and if you are using the software correctly, it will provide all the data you need in order to file your IFTA. Miles, Jurisdictions, MPG, etc.

It runs on Linux, Mac or Windows.

https://trucklogger.com/