What is IFTA?
IFTA stands for the International Fuel Tax Agreement and was established between the 48 contiguous states and ten Canadian provinces.
Who has to file IFTA?
Drivers of vehicles with the following characteristics must file IFTA:
- Weigh 26,000 pounds or more
- Have three or more axles
- Travel between two or more jurisdictions
When is the IFTA deadline?
IFTA is filed quarterly to the driver’s base jurisdiction. The details for each quarter are as follows:
Quarter 1: January 1 – March 31
Quarter 2: April 1 – June 30
Quarter 3: July 1 – September 30
Quarter 4: October 1 – December 31
The deadline to file for each quarter is as follows (If the deadline falls on a weekend or holiday, the deadline will be moved to the next business day):
Quarter 1: April 30 (May 2, 2022)
Quarter 2: July 31 (August 1, 2022)
Quarter 3: October 31
Quarter 4: January 31
What is required to file IFTA?
You need to generate an IFTA report in order to file IFTA. This report will consist of the following:
- Business name
- Trucks that meet the IFTA requirements
- The amount of fuel purchased and miles that were driven in each jurisdiction
Who do drivers file IFTA to?
Drivers file IFTA to their base jurisdiction, this way the base jurisdiction will distribute the fuel taxes owed to each state.
What is HUT?
HUT is a separate filing requirement that stands for Highway Use Tax. This is not the same thing as the Heavy Vehicle Use Tax and is only required for drivers with base jurisdictions in Kentucky, New Mexico, New York, and Oregon. The HUT needs to be filed directly with the driver’s base jurisdiction.
Can fuel cards help with IFTA?
Fuel cards can be beneficial to have, especially when it comes to IFTA. Fuel cards are credit cards that you can use at the pump and save up to fifteen cents per gallon. With the price of fuel increasing, this can be beneficial in the long run. You can use your credit card statement to help record IFTA fuel purchases in each jurisdiction when generating your IFTA report.
Where can you generate an IFTA report?
In order to file IFTA with your base jurisdiction, you first need to generate your IFTA report. ExpressTruckTax has a sister company, TruckLogics, where you can generate IFTA reports in state-specific formats. TruckLogics is a full Trucking Management Software that helps users manage all aspects of their trucking business including dispatching, assigning drivers to dispatches, keeping track of equipment maintenance, paying drivers, and more. If you sign up for the preferred or premium plan, you are able to generate IFTA reports as well. If you do not need a full Trucking Management Software, TruckLogics offers an IFTA-only option. Simply sign up, enter your information, and enter your truck and fuel mileage information.
You can either enter your fuel mileage information through manual entry, bulk upload through the TruckLogics excel template, or through Motive ELD. TruckLogics also keeps track of all of the IFTA tax rates and does all of the calculations for you. If you have vehicles that have different fuel types, your vehicles will automatically be put in separate reports for each fuel type. You only need to pay per report per quarter once you generate the report.
The third quarter IFTA deadline is only a week away. What are you waiting for? Go to TruckLogics and generate your IFTA report quickly and easily today!
