What is the HVUT and am I supposed to pay it?
HVUT stands for Heavy Vehicle Use Tax which is an annual federal highway tax imposed on certain heavy motor vehicles, including trucks, truck tractors, and buses using our public highways. The tax applies only to vehicles with a taxable gross weight of 55,000 pounds or more. The federal government then distributes revenues back to the states for highway construction and maintenance projects.
Any business owner or a tax professional can file form 2290.You may be an individual, limited liability company (LLC), corporation, partnership, or any other type of organization (including nonprofit, charitable, educational, etc.) as long as you own and operate a truck or fleet which weighs 55000 lbs and above.
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- What is the HVUT and am I supposed to pay it?
