You received ANOTHER email message from an address that you don’t recognize. It says something like, “click here to pay HUT now.” But, you’re a savvy business owner, so you Google HUT. After scrolling through links to sites ranging from investment opportunities to ads for pizza places, you stumble across a problem. You discover that there isn’t one HUT, but TWO.
So, which, if either, apply to you?
I’m glad you asked.
Let’s run through some basics to help you decide:
Do you have a large commercial vehicle?
How large is it? Over 55,000 pounds when fully loaded?
Do you operate in the State of New York?
If you answered ‘yes’ to the first question, the HUT that you need is technically the Heavy Vehicle Use Tax, which is a tax imposed by the IRS on vehicles over 55,000 pounds (GVWR/GCWR). This tax is paid based on weight, where vehicles weighing 80,000 pounds (GVWR/GCWR) owe $550 per vehicle.
This HUT, also called the 2290 (the name of the IRS form filed for HUT), is due on August 31st, and covers the quarter 3 and 4 of the current calendar year and quarters 1 and 2 of the next year (coverage runs July 1 of the current year through June 30 of the next year).
Further, if a new vehicle is purchased, HUT must be paid by the end of the month that is 45 days from the date of purchase of the vehicle.
If you answered ‘yes’ to the second question, then it is time to dig a little deeper. If your vehicle qualifies for the 2290 HUT, then you do, in fact, need the NY HUT.
NY HUT is tax that the State of New York imposes on vehicles that travel the public highways of that state. This tax will be imposed on ANY vehicles with a loaded weight above 18,000 pounds when loaded (or 8,000 pounds unloaded if a truck and 4,000 pounds unloaded if a tractor).
The initial Certificate of Registration and vehicle stickers costs $1.50 per vehicle, to be renewed yearly. Then, quarterly tax returns are due. These returns are based on the distance traveled in New York, and the tax rate for 2021 is 1.26 cents per mile ($0.0126). These returns are due at the end of the month following the end of each quarter (April 30 for Q1, July 31 for Q2, October 31 for Q3 and January 31 for Q4).