So, you may already have your IFTA Account set up. But are you filing your quarterly IFTA Reports?
What are the Filing Requirements?
IFTA fuel reports are due four times a year, the last day of the month after each quarter closes. Even if no taxable fuel was used or operations were conducted during the reporting period, the IFTA fuel tax report is required.
What are the Due Dates?
The due dates are April 30, July 31, October 31 and January 31.
What exactly do you put on the IFTA Reports?
You must document total IFTA miles, non-IFTA miles, taxable miles, miles per gallon (MPG) for indicated fuel types. The report also includes taxable gallons of motor fuel purchased, tax-paid gallons, net taxable gallons, tax rate, tax or credit due, interest due and total due. All of this must be captured, as a separate line item, for each state.
Will I have to pay something?
You will either have to pay or receive a refund.
The IFTA reviews the report to calculate the total tax owed and/or refund due. The total amount is either paid to or refunded by the state that issued the license.
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