HVUT Form 2290 on
Know the taxable gross weight for the
IRS Form 2290 Taxable Vehicles
Updated on March 31, 2023 - 10:30 AM by Admin, ExpressEfile
Form 2290 is an annual tax return that is filed to calculate and pay the Heavy Vehicle Use Tax (HVUT). Usually, every heavy motor vehicle operating on the public highway are required to file
Form 2290 and pay the HVUT. The tax amount for the vehicle will be determined based on the vehicle’s first used month (FUM) and taxable gross weight.
In this article, we cover the following topics:
1. What is a taxable vehicle?
Vehicles that operate on public highways and have a taxable gross weight of 55,000 pounds or more are required to file Form 2290. Any heavy vehicle that has been operated for more than 5000 miles (7500 for agricultural vehicles) will be considered as taxable vehicles.
The taxable vehicles are required to pay an HVUT amount along with their Form 2290 every
2. How is the HVUT of a taxable vehicle calculated?
The Heavy Vehicle Used Tax (HVUT) of a vehicle is calculated depending upon the vehicle’s First Used Month (FUM) and taxable gross weight. The HVUT of a vehicle increases with respect to the taxable gross weight of the vehicle.
Vehicles with a taxable gross weight of 55,000-56,0000 pounds are required to pay an HVUT amount of $100.
This amount will gradually increase by $22 for every 1000 pounds until it reaches a maximum of 75,000 pounds. The HVUT for vehicles with a taxable gross weight of 75,000 or more is $550.
These tax rates are applicable for vehicles with July as their First Used Month (FUM). The tax amount is paid for all the 12 months throughout the tax year (July - June). If the FUM of the vehicle is different, the HVUT will also be reduced based upon the number of months the HVUT is paid for.
3. What is logging?
Vehicles that are exclusively used for logging purposes are considered as logging vehicles. The logging purposes include transportation of products harvested from a forest site like timber, charcoal, plywood, veneers, and pole.
The HVUT rates are considerably less for logging vehicles in comparison to the other vehicles.
*We can add a table with the HVUT amount for logging vehicles in each weight category*
4. What are credit vehicles?
If you file Form 2290 and pay the HVUT for your taxable vehicles, and the vehicle was sold, stolen, destroyed, or operated for less than 5000 miles, you can claim credits of the HVUT paid for those vehicles.
You can either file Form 8849 to claim credits or use the credits to pay the HVUT while filing Form 2290 for the subsequent tax year.
5. What information should I provide about taxable vehicles while filing Form 2290?
Once you start filing Form 2290 and provide details about your business, you have to enter the following vehicle information:
- Tax Year.
- First Used Month.
- Vehicle Identification Number (VIN).
- Taxable Gross Weight.
- Logging Vehicle information (CheckBox)
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