Louisiana calculates a late penalty of $50, or 10% of the net tax owed, plus there is. Interest is calculated on outstanding taxes in each country at a rate of 0.4167% per month. Even if you are entitled to a net refund, interest continues to apply to each jurisdiction for any underpayment of fuels using taxes on that jurisdiction. These interests are calculated from the day after the IFTA quarterly maturity date for each month or fraction of a month until disbursement. How do I document fuel purchases? You must collect and keep detailed tickets and/or invoices. This proof of purchase must include the date of purchase, the name and address of the seller, the number of gallons purchased, the type of fuel purchased, the price of the gallon, the number of the vehicle and the name of the buyer. They must submit a return, even if there are no miles driven or if no taxable fuel was used during the quarter. Where can I get help to meet my IFTA requirements? Foley offers affordable programs to help airlines meet their quarterly IFTA reporting obligations. All you need to do is provide completed travel and fuel purchase data, and we`re preparing for your quarterly return from IFTA. Daily driver travel reports and/or monthly and five-year electronic records are included in the programs. For more information, call 1-800-253-5506, 0869. How do I get a return? A quarterly return must be filed even if the taker does not operate or purchase taxable fuel in an IFTA member state in a given quarter.
Quarterly returns can be submitted online. What if I don`t have a current IFTA license or don`t have a temporary fuel license? Expect delays – and possible sanctions. We have often heard reports of drivers being taken out of service for IFTA violations. There are also hefty fines that vary from state to state, because they do not pay the fuel tax. California law, for example, requires a mandatory penalty of 25 per cent of the tax due, or $500, based on the higher value. You must pay the fine, taxes and interest to prevent the vehicle from being confiscated. I signed up for IFTA. How many times do I have to file tax returns? In most jurisdictions, road hauliers are required to file quarterly fuel tax returns with their ifta jurisdiction. To avoid penalties, IFTA returns must be stamped, along with any tax payments due on or before the deadlines listed below: Where can I get more information? revenue.louisiana.gov/TaxpayerEducationCourses/ExciseIFTA The International Fuel Tax Agreement (ITF) is an agreement between the 48 lower U.S.
states and Canadian provinces to facilitate the reporting of fuel consumption by fuel companies operating in more than one country.  Alaska, Hawaii and the Canadian territories are not required to participate, but all of Canada and Alaska do. An IFTA-owned executing carrier receives an IFTA licence and two decals for each qualified vehicle it operates. The carrier provides a quarterly fuel tax return. This report is used to determine the tax or net refund due and to redistribute taxes from collector states to the states due.