What is IFTA???

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 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 

Commercial motor vehicles are IFTA qualified. Specifically, these are commercial vehicles with three or more axles, or with two axles and a gross weight exceeding 26,000 pounds, used to transport goods or passengers.

For IFTA qualification, these vehicles are operated in at least two states of the U.S. and/or Canadian provinces which are members of the International Fuel Tax Agreement.

All 10 provinces of Canada are members of the agreement, as are all 48 contiguous states of the USA. Alaska and Hawaii are not members.

Private or recreational vehicles for personal use are not subject to IFTA licensing.

uded when reporting IFTA claims.

 IFTA was created for truckers who frequently cross state lines on their routes. It simplifies accounting and payment of fuel taxes and relieves trucking companies of some paperwork. 

IFTA Required Filling Dates 

1st Quarter   (January- March 2025) Due  May 1, 2025

2nd Quarter   (April - June 2025) July 31, 2025

3rd Quarter    (July - September 2025) October 31, 2025

4th Quarter     (October - December 2025) January 31, 2025 

If you are due a refund the amount will automatically be calculated by Masone East Financial and will be listed on your IFTA Quarterly tax return. This amount will show you if you owe taxes or are due a refund. Parentheses represent a negative balance meaning that you do owe taxes to your Base Jurisdiction. Any tax balance due will be automatically calculated by Mason East Financial  and will be listed on your IFTA fuel tax return. In order to pay your IFTA tax, simply submit a check or money order for the amount owe with your completed IFTA form to your Base Jurisdiction/State.

For most states, the penalty for late filing is a flat rate fee of $50 or 10% of the taxes due, whichever is greater. The only state that is different is Nevada. Nevada's penalty for Late filing is a $50 flat fee plus 10% of the taxes due.

Starting the month after you receive your original penalty for late filing, you will be charged .4167% of the tax due every month until the tax amount is paid. Again, Nevada is the only exception to this rule. Nevada charges the .4167% of the tax due every month as well as an administrative late fee of $100 the first time, $500 the second time, $1000 the third time, $1500 the fourth time, $2000 the fifth time, and $2500 for every time after that.

Penalty for underpayment of taxes due is calculated the same way. You will be charged a penalty amounting to .4167% of the unpaid taxes on a monthly basis until the taxes are paid in full.