Wagers and Heavy Highway Vehicle Use Tax Due
Jun 06, 2017
Wagers and Heavy Highway Vehicle Use taxes are due on the last day of the month if:
1) You are in the business of accepting wagers, conduct a wagering pool or lottery, and/or are required to be registered and you received wagers for or on behalf of another person but did not report that person's name and address.
- File form: 730 and pay the tax on wagers accepted during the prior month.
2) You have heavy highway vehicle use: Figure and pay the tax due on highway motor vehicles used during the period with a taxable gross weight of 55,000 pounds or more; Figure and pay the tax due on a vehicle for which you completed the suspension statement on another Form 2290 if that vehicle later exceeded the mileage use limit during the period; Figure and pay the tax due if, during the period, the taxable gross weight of a vehicle increases and the vehicle falls into a new category; Claim suspension from the tax when a vehicle is expected to be used 5,000 miles or less (7,500 miles or less for agricultural vehicles) during the period; Claim a credit for tax paid on vehicles that were destroyed, stolen, sold, or used 5,000 miles or less (7,500 miles or less for agricultural vehicles); Report acquisition of a used taxable vehicle for which the tax has been suspended; Figure and pay the tax due on a used taxable vehicle acquired and used during the period.
- File form: 2290 and pay the tax for vehicle first use during the prior month.
EFTPS users: Payments must be scheduled by 8:00p.m. E.S.T. at least one calendar day befor the tax due date.Missing tax due dates is a costly mistake. Set up reminders on your smartphone or calendar. Any questions, visit us at: MCBtax.com or call 347-464-9153.
***MCBtax is a NYC-based tax preparation firm providing accounting and bookkeeping services nationwide.***
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1) You are in the business of accepting wagers, conduct a wagering pool or lottery, and/or are required to be registered and you received wagers for or on behalf of another person but did not report that person's name and address.
- File form: 730 and pay the tax on wagers accepted during the prior month.
2) You have heavy highway vehicle use: Figure and pay the tax due on highway motor vehicles used during the period with a taxable gross weight of 55,000 pounds or more; Figure and pay the tax due on a vehicle for which you completed the suspension statement on another Form 2290 if that vehicle later exceeded the mileage use limit during the period; Figure and pay the tax due if, during the period, the taxable gross weight of a vehicle increases and the vehicle falls into a new category; Claim suspension from the tax when a vehicle is expected to be used 5,000 miles or less (7,500 miles or less for agricultural vehicles) during the period; Claim a credit for tax paid on vehicles that were destroyed, stolen, sold, or used 5,000 miles or less (7,500 miles or less for agricultural vehicles); Report acquisition of a used taxable vehicle for which the tax has been suspended; Figure and pay the tax due on a used taxable vehicle acquired and used during the period.
- File form: 2290 and pay the tax for vehicle first use during the prior month.
EFTPS users: Payments must be scheduled by 8:00p.m. E.S.T. at least one calendar day befor the tax due date.Missing tax due dates is a costly mistake. Set up reminders on your smartphone or calendar. Any questions, visit us at: MCBtax.com or call 347-464-9153.
***MCBtax is a NYC-based tax preparation firm providing accounting and bookkeeping services nationwide.***
