The simplified process of international fuel tax association reporting makes it effortless for trucking companies to comply with the requirements of the agreement. The quarterly IFTA reporting online is simple due to all the information being automatically calculated and populated into the appropriate fields. The report also includes an IFTA map that illustrates the company’s travel routes. While some trucking companies can do it on their own, this task can be delegated to fuel tax reporting companies to minimize the risks.
Once the IFTA report online is filed, the trucking fuel tax reporting company will receive a bill from the state or province where you purchased the fuel. The bill will reflect the total fuel taxes owed for the quarter and any late fees or penalties that have been assessed. You must pay the bill within 30 days of receipt.
IFTA licensing ‒ who needs it?
Trucking companies that function in multiple jurisdictions must hold an IFTA license. The license is issued by the company’s home jurisdiction and is valid for one year. If the company wants to keep its license, it must fill out a renewal application and pay the renewal IFTA fees.
IFTA Decals
Trucking companies that have IFTA licenses must display an IFTA decal on each vehicle used in interstate operations. The decal must be renewed every year and is valid for the calendar year.
Penalties for Violating IFTA Regulations
Trucking companies that violate IFTA regulations may be subject to penalties. A fine, suspension of your IFTA license or revocation of your license are all consequences for breaking the law.
The benefits of IFTA for truckers
Is IFTA required? In most cases, for trucking companies, yes. The benefits of IFTA for trucking companies include the following:
A Streamlined Process
With easy IFTA, trucking companies are only required to file one quarterly report and make one payment for fuel taxes. This eliminates the need to file multiple reports and make multiple payments to different jurisdictions. IFTA filing services are the best help there.
A Simplified Fleet Tax Reporting Structure
IFTA provides a simplified tax structure based on fuel consumption and miles traveled. This makes it easier for trucking companies to calculate their taxes owed.
Administrative Burden Reduction
The streamlined process of fuel tax reporting reduces the administrative burden on trucking companies. With IFTA, it is easy to file and pay fuel taxes, which saves the company time and money.
Improved Cash Flow
IFTA allows trucking companies to delay payment of fuel taxes until the end of the quarter. This improves the company’s cash flow and helps to ensure that the company has enough cash on hand to cover its expenses.
An annual license fee
An annual license fee is all that is required to participate in IFTA. The fee is used to help run IFTA operations and to fund enforcement activities.
IFTA provides several benefits for trucking companies that operate in multiple jurisdictions. The streamlined process for reporting and paying fuel taxes makes it easy to comply with the provisions of the agreement. The simplified tax structure and the annual license fee make IFTA an attractive option for trucking companies.
FleetCare IFTA fuel tax reporting service
At FleetCare, we understand the importance of filing accurate and timely IFTA reports according to IFTA regulations. That’s why we offer streamlined reporting IFTA services that make it easy for companies to comply with IFTA regulations.
What to Expect with FleetCare tax reporting Services?
With FleetCare, you can expect a hassle-free fuel tax reporting experience. We will take care of all the paperwork and filing for you, so you can focus on running your business. We will also keep you updated on any changes to the IFTA regulations so that you can stay compliant.
Here is what you can expect from our services.
Transparent and Ease of Use
Our IFTA reporting service is designed to be simple and easy to use. We will provide you with a user-friendly interface that makes filing reports a breeze. There are no hidden fees or complicated processes, so you can ensure that you are getting the best value for your money.
Timely and Accurate Reporting
We pride ourselves on our ability to provide timely and accurate reports. We understand the importance of filing reports on time, and we will make sure that your reports are filed correctly and on time. You can rest assured that you comply with IFTA regulations.
Excellent IFTA Customer Service
At FleetCare, we understand that customer service is essential. We will provide you with excellent customer service and ensure that all of your questions are answered. We want to make sure that you are 100% satisfied with our services.
Our friendly and knowledgeable customer service team is always available to help you with any questions or concerns you may have.
Affordable Pricing
We offer competitive pricing for our services. We want to make it easy for you to get the help you need without breaking the bank. Our prices are affordable and will fit into your budget.
Get Started Today
If you’re looking for a reliable and affordable IFTA reporting service, look no further than FleetCare. We offer a hassle-free experience that will make filing reports a breeze. Contact us today to learn more about our services or to get started.
Frequently Asked Questions about IFTA
International Fuel Tax Agreement (IFTA) — a plan involving a majority of the 48 contiguous states, most of which require interstate motor carriers to report how much fuel they use within the borders of their state for taxing purposes. Under IFTA, such carriers may report fuel used in all such states to one base state.
The International Fuel Tax Agreement (IFTA) is an arrangement among U.S. states and Canadian provinces. Taxes are paid on motor fuels, and IFTA allows commercial motor carriers to register in one state and have these tax assessments paid out to all participating areas according to their fair share.
IFTA is the cooperative agreement between 48 states in the U.S. and 10 provinces in Canada. It allows inter-jurisdictional carriers to report and pay taxes for the fuel their vehicles consume across states. Using a single fuel tax license.
IFTA is the cooperative agreement between 48 states in the U.S. and 10 provinces in Canada
You must obtain an IFTA license if you operate a qualifying motor vehicle in two or more U.S. states and/or Canadian provinces that are members of the International Fuel Tax Agreement.
If you operate a qualifying vehicle only within the boundaries of your home state and do not cross other jurisdictional boundaries, then you are not required to register with, or obtain an IFTA license or permit.
Operators may obtain a one-time or limited permit to operate into another state. This requires prior planning and authorization. Operators my obtain a maximum of 10 special permits per calendar year. If more than 10 interstate trips are necessary, IFTA membership is required.
For example, recreational vehicles, farm-plated vehicles, school buses, tow trucks, and government-owned vehicles are exempt in some states and provinces but not all. Biodiesel is also exempt from IFTA according to the 2017 list.
You must obtain an IFTA license if you operate a qualifying motor vehicle in two or more U.S. states and/or Canadian provinces that are members of the International Fuel Tax Agreement.
Under IFTA, licensed carriers can submit one quarterly tax return to their base jurisdiction concerning fuel usage. This avoids the hassle of individual returns for each state visited. Complying with IFTA regulations is important for the longevity and sustainability of all commercial carriers.
Any IFTA licensee in good standing with the Department may request a temporary permit from the Bureau of Motor and Alternative Fuel Taxes to operate a qualifying vehicle without IFTA decals.
However, if that truck makes even one trip outside of the state without an IFTA license (or a special permit), the operator is subject to fines, penalties, even possible impoundment of the load and/or the vehicle. Operators may obtain a one-time or limited permit to operate into another state.
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