How do I file my IFTA taxes in Kentucky?

How do I file my IFTA taxes in Kentucky?

New Kentucky IFTA Fuel Tax Accounts

You will need to complete a Kentucky application form and submit by mail or in person to the Division of Motor Carriers. Incomplete applications will be returned, which will delay processing. There is no fee for decals. You will need one set per qualified vehicle.

How do I file an IFTA online in KY?

1. STEP 1: Login and Access your Account. Launch your browser and enter https://ky.iftaipc.com.
2. STEP 2: Start the Return and your Complete Fuel.
3. STEP 3: File your Return. Once you’ve completed your Fuel Schedules, the In Progress.
4. STEP 4: View your Invoice and Make a Payment. The License Summary page will be displayed.

Does Kentucky participate in IFTA?

Kentucky State IFTA Requirements. Kentucky is one of 48 states in the U.S. that has joined the IFTA.

What is the Kentucky surcharge for IFTA?

Does Kyu number have to be on truck?

KYU number display is optional unless vehicle is leased and the lessor holds the KYU account. In this case the KYU number must be displayed in addition to the federally required signage.

What is kyu tax?

KYU is a tax license issued for all carriers traveling on Kentucky roadways with a combined license weight greater than 59,999 pounds. The tax rate is $0.0285 cents per mile.

Which states are not included in IFTA?

There are several jurisdictions that are not IFTA members where IFTA credentials are not valid, these include: Alaska, Hawaii and the District of Columbia, the Northwest Territories, Nunavut and Yukon, as well as all the states and Federal District of Mexico.

What states are not IFTA?

What is IFTA? IFTA (The International Fuel Tax Agreement) is an agreement between all US states (except Alaska and Hawaii) and Canadian provinces and territories (except Yukon Territory, Northwest Territory and Nunavut), to simplify the reporting of fuel use by motor carriers that operate in more than one jurisdiction.

What is the difference between IFTA miles and taxable miles?

To recap, Total Miles include IFTA Miles, Non-IFTA miles, and exemption miles. Total IFTA miles do not include Non-IFTA miles. Total Taxable miles do not include applicable exemption miles. The miles left after removing the Non-IFTA miles and non-taxable miles are the miles you need for calculating your IFTA report.

What states do not participate in IFTA?

Do you need Kyu permit for hotshot?

Only carriers with one or more vehicles with a GVWR over 59,999 pounds who travel in or through Kentucky are subject to this tax. If you are a Hotshot Carrier your GVWR is probably going to be well under this figure so you do NOT need to get a KYU Number.

How much does a kyu cost?

Is Kyu same as IFTA?

IFTA is a fuel tax based on the fuel consumed by a vehicle within a certain IFTA jurisdiction. IFTA taxable vehicles start at over 26,000 pounds or has 3 or more axles regardless of weight. KYU however, is a highway usage tax that is based purely on KY mileage.

Do you count empty miles on IFTA?

Not reporting personal or unloaded miles: Remember, all miles must be recorded, whether loaded, empty or bobtail.

What is the difference between IFTA and IRP?

IRP & IFTA (Apportioned Plates & Fuel License) IRP -International Registration Plan is the registration required for vehicles over 26,000 pounds that cross state lines. Also known as Apportioned Plates and Prorate Account. IFTA is the fuel tax decals and license for the same vehicles.

How do I calculate IFTA taxable miles?

Calculating IFTA Taxable Miles by State
To begin, gather records of total miles driven and fuel amounts purchased in each jurisdiction where your fleet vehicles traveled. The formula is rather simple from this point. Simply divide the total miles driven by total gallons to obtain the overall fuel mileage.

What is the average mpg for IFTA?

Reported average miles per gallon are expected to fall between 5 to 10 MPG for trucks and remain relatively the same each reporting period. If your metrics are outside this range or vary drastically from one quarter to the next, be sure to give an explanation as to why.

Do hotshots pay IFTA?

Hot Shot trucks do not need IFTA license and IRP hot shot plates if they are under 26,000 pounds. It is optional to register with IFTA if the truck owner operator wishes to do so.

Do you need a CDL to hotshot in Kentucky?

When do I need a CDL? A Class A CDL License is required when the Gross Combined Vehicle Weight Ratings (GCVWR) of the truck and trailer totals 26,001 or more provided the GVWR of the vehicle(s) being towed is in excess of 10,000 pounds.

How long is a kyu number good for?

Currently, a ten-day temporary permit will cost you approximately $46.00 and can be obtained directly from KY. The KYU number issued by the Kentucky Transportation Cabinet is a permanent weight distance tax license, no yearly renewals. Kentucky does require that you maintain a vehicle inventory for your KYU number.

What is a good mpg for IFTA?

Report a consistent MPG – the driver of a truck knows the average miles per gallon or MPG of his or her truck. So make sure that the MPG in your report is similar to the one your driver knows and it is consistent from quarter to quarter. Your MPG for semi trucks should fall within a range of 4 and 8 MPG.

Are Total IFTA miles the same as taxable miles?

Your Total Miles and Taxable Miles are not the same. Total and Taxable Miles in most cases will always be the same. included in the jurisdictions total miles but are not included in the jurisdictions taxable miles.

Do Hot Shots need IFTA?

What triggers an IFTA Audit?

Outside compliance specialists are able to dedicate resources to ensuring this information is collected, recorded properly, and IFTA reporting is handled in a timely and accurate manner. The alternative is paying too much in fuel taxes or not enough, likely triggering an IFTA audit.

How do I calculate IFTA tax?

First, you need to calculate how many gallons of fuel you burnt per mile traveled (fuel mileage).

1. Add up the total number of gallons of fuel you have purchased (while you’re at it, jot down how much fuel tax you paid in each state – more on this in later)
2. Add up the total number of miles traveled across all states.