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Strengthener Htf
What is HVUT (Heavy vehicle use tax)?
The term HVUT concerns the Heavy Vehicle Use Tax, a levy imposed on heavy vehicles operate on public roads. To qualify for HVUT, a vehicle must have a gross weight of 55,000 pounds or more. The taxable gross weight is calculated by adding the following:
- unladen weight of the vehicle, fully equipped for service.
- weight unloading trailers equipped for service and commonly used in combination with the vehicle
- Maximum load weight normally on board the vehicle and any trailer normally used in combination with the vehicle.
What does the IRS considers to be a highway motor vehicle liability, you may ask. Well, the IRS considers passive Highway motor vehicle any motor vehicle that is designed to carry a burden on the public highway. Examples of these vehicles are trucks, tractors and buses. The IRS generally does not consider vehicles such as vans, pickup trucks, panel trucks or similar vehicles, and no weight 55,000 pounds or more.
There are three different categories for HVUT rates for these vehicles. Below 55,000 pounds HVUT vehicles do not have because they are ineligible as a heavy vehicle. Vehicles between 55,000 and 75,000 pounds to be $ 100 plus $ 22 per 1,000 pounds over 55,000 pounds. Finally, for vehicles that are more than 75,000 pounds maximum HVUT is $ 550 per year.
What is the purpose of HVUT?
The HVUT is a major source of transportation funding in the U.S. In 2006 alone, the HVUT generated more than $ 1.4 billion in Federal Highway Trust Fund (HTF) revenues.
The Federal HTF protect U.S. investment in transport infrastructure. In 2007 Federal Only HTF receipts were $ 39.9 billion, with $ 34.9 billion dedicated to the HTF Highway Account. The Federal HTF funds a wide range of transportation investments, including:
- Road improvements (eg, acquisition land, other costs of right of way, construction, preliminary engineering and construction and reconstruction, resurfacing and rehabilitation costs roads and bridges)
- Road and bridge maintenance
- Highway enforcement
- Security programs (eg driver education and training, vehicle inspection programs, implementation of vehicle size and weight limits)
- Congestion aid projects
- Administrative costs (eg, research, engineering)
Investment in infrastructure our nation's highway helps you:
- Save time, money and lives
- Reducing the number and severity of accidents of all types of vehicles
- Improving emergency response capacity
- Low fuel and insurance costs
- Reducing energy consumption
- Ease congestion
- Increase air quality
- Increasing mobility
- Improve the efficiency of the movement of goods
- Increase business productivity
- Strengthen the nation's economic productivity
Since the vast majority of All funds contributed by the States Parties to the Federal HTF is returned through road improvements, this is a direct incentive for state agencies to take measures necessary to improve compliance HVUT.
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