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 FleetLegal Solutions
 104-B Brothers Blvd.
 Red Oak, TX 75154
 Tel: 972-576-2629
 Fax: 972-576-2761

Trucking News


November 12, 2004
HVUT- The Good/Bad News

The Heavy Vehicle Use Tax (HVUT) credit initiative, passed as part of the American Jobs Creation Act, was signed into law by President Bush on October 22, 2004. The new law provides for a prorated tax credit to truck owners who have paid HVUT on a vehicle that is sold during the tax year. The law takes effect on July 1, 2005 and will apply to HVUT paid after that date. A proposed requirement to put a decal or transponder on trucks to show proof of HVUT payment was strongly opposed by TRALA and the American Trucking Associations and eliminated from the bill by Congress.

Now for the bad news... Another provision of the law strongly pushed by both Congress and the Department of Treasury eliminates the option to pay the HVUT in quarterly installments. So all motor carriers need to get prepared and start accruing funds now for the HVUT tax due next July!